3 ms·

So something you might find interesting there is a website out there https://senatestockwatcher.com/ https://senatestockwatcher.com/ that reports on the trades

by hpoe 5y ago

So something you might find interesting there is a website out there https://senatestockwatcher.com/ https://senatestockwatcher.com/ that reports on the trades made by congress people and one of the things that was discovered is that many congress people have below or only slightly above returns on stock market trading. That being said as far as I know it is only trades they make so there may be ways around it but just an interesting point of data.

ceejayoz 5y ago
Is it legal for Members of Congress to pass tips on, to friends and relatives?
- uptownfunk 5y ago
  not legal but not easily detectable either
- olivermarks 5y ago
  The 2012 stock act supposedly stopped this https://www.congressionalinstitute.org/2018/08/16/can-members-of-congress-engage-in-insider-trading/ https://www.congressionalinstitute.org/2018/08/16/can-member... Nancy Pelosi's (net worth $112m) recent financial activities with Emhoff make me very dubious about this. https://fortune.com/2021/07/08/house-speaker-nancy-pelosi-husband-paul-big-tech-stocks/ https://fortune.com/2021/07/08/house-speaker-nancy-pelosi-hu... etc etc
  - ceejayoz 5y ago
    > Nancy Pelosi's (net worth $112m) Significant portions of that are due to her being married to a venture capitalist and real estate investor.
    - olivermarks 5y ago
      They make a great team. Separately I mixed up Paul Pelosi with Emhoff, Kamala Harris's current husband.
- frellus 5y ago
  Technically, insider trading is defined by anyone trading on or passing non-public knowledge to an "outsider". So, yes.. if a Congress member passed along material information to someone that they traded on, both should get prosecuted. I'm not sure I've seen it happen to politicians in my lifetime, but totally should.
yunohn 5y ago
> many congress people have below or only slightly above returns on stock market trading This is an assumption unsupported by the data or this website. We do not have accurate position details, nor exact dates and times for the trades, to understand their earnings. Further, Congress members only provide ranges of values for the trades they make, with a significant reporting delay.

by hpoe 5y ago

ceejayoz 5y ago

Is it legal for Members of Congress to pass tips on, to friends and relatives?

uptownfunk 5y ago
not legal but not easily detectable either
olivermarks 5y ago
The 2012 stock act supposedly stopped this https://www.congressionalinstitute.org/2018/08/16/can-members-of-congress-engage-in-insider-trading/ https://www.congressionalinstitute.org/2018/08/16/can-member... Nancy Pelosi's (net worth $112m) recent financial activities with Emhoff make me very dubious about this. https://fortune.com/2021/07/08/house-speaker-nancy-pelosi-husband-paul-big-tech-stocks/ https://fortune.com/2021/07/08/house-speaker-nancy-pelosi-hu... etc etc
- ceejayoz 5y ago
  > Nancy Pelosi's (net worth $112m) Significant portions of that are due to her being married to a venture capitalist and real estate investor.
  - olivermarks 5y ago
    They make a great team. Separately I mixed up Paul Pelosi with Emhoff, Kamala Harris's current husband.
frellus 5y ago
Technically, insider trading is defined by anyone trading on or passing non-public knowledge to an "outsider". So, yes.. if a Congress member passed along material information to someone that they traded on, both should get prosecuted. I'm not sure I've seen it happen to politicians in my lifetime, but totally should.

yunohn 5y ago

> many congress people have below or only slightly above returns on stock market trading This is an assumption unsupported by the data or this website. We do not have accurate position details, nor exact dates and times for the trades, to understand their earnings. Further, Congress members only provide ranges of values for the trades they make, with a significant reporting delay.