4 ms·

This is about the Fed banning it's own policymakers from owning them, not about congress.

by smolder 5y ago

smnrchrds 5y ago
Chair of the Federal Reserve has a salary of US$221,400.
animal_spirits 5y ago
Correct, the article has zero mentions of congress
Roboprog 5y ago
Perhaps someone will start a “Speaker of the House” index fund which the officers from the Federal Reserve can buy, since they won’t be able to buy individual stocks.
- glial 5y ago
  Folks are doing it manually: https://www.npr.org/2021/09/21/1039313011/tiktokers-are-trading-stocks-by-watching-what-members-of-congress-do https://www.npr.org/2021/09/21/1039313011/tiktokers-are-trad...
  - tlear 5y ago
    This is good “The Speaker has no prior knowledge or subsequent involvement in any transactions," said the spokesperson.
tessierashpool 5y ago
thank you for this extremely important correction. I was reading the comments instead of the article and wondering in the back of my mind how the Fed even had jurisdiction over Congress. sure hope it remains visible in the comment hierarchy.
- denton-scratch 5y ago
  I went to the article; the UI is horribly broken, and prevented me reading past the first para (by continuously reloading); but I got that it was about their own staff.
whimsicalism 5y ago
Yeah but who has time to do such an in-read depth of *checks notes*... the headline?
nerfhammer 5y ago
Would the Fed actually have the authority to even do that, regulate what securities Congress members are allowed to hold?
- dnautics 5y ago
  probably not. Then again, does the fed actually have the authority to do some of the things that it does?
- kolbe 5y ago
  “The Fed” as in the Federal Reserve: no. “The Fed” as in the Federal Government: yes.
  - westurner 5y ago
    "Blind Trust" > "Use by US government officials to avoid conflicts of interest" https://en.wikipedia.org/wiki/Blind_trust https://en.wikipedia.org/wiki/Blind_trust https://www.oge.gov/ https://www.oge.gov/ ... If you want to help, you must throw all of your startup equity away. ... No, you may not co-brand with that company (which is not complicit with your agenda). ... Besides, I'm not even eligible for duty: you can't hire me. ... Maybe I could be more helpful from competitive private industry. ... How can a government hire prima donna talent like Iron Man? ... Is it criminal to start a solvent, sustainable business to solve government problems, for that one customer? ... Which operations can a government - operating with or without competition - solve most energy-efficiently and thus cost-effectively? Looks like single-payer healthcare and IDK what else? (Edit) US Digital Services Playbook: https://github.com/usds/playbook https://github.com/usds/playbook From https://www.nist.gov/itl/applied-cybersecurity/nice/nice-framework-resource-center https://www.nist.gov/itl/applied-cybersecurity/nice/nice-fra... : > "NIST Special Publication 800-181 revision 1, the Workforce Framework for Cybersecurity (NICE Framework), provides a set of building blocks for describing the tasks, knowledge, and skills that are needed to perform cybersecurity work performed by individuals and teams. Through these building blocks, the NICE Framework enables organizations to develop their workforces to perform cybersecurity work, and it helps learners to explore cybersecurity work and to engage in appropriate learning activities to develop their knowledge and skills. From "NIST Special Publication 800-181 Revision 1: Workforce Framework for Cybersecurity (NICE Framework)" (2020) https://doi.org/10.6028/NIST.SP.800-181r1 https://doi.org/10.6028/NIST.SP.800-181r1: > 3.1 Using Existing Task, Knowledge, and Skill (TKS) Statements (Edit) FedNOW should - like mCBDC - really consider implementing Interledger Protocol (ILP) for RTGS "Real-Time Gross Settlement" https://interledger.org/developer-tools/get-started/overview/ https://interledger.org/developer-tools/get-started/overview... From https://interledger.org/rfcs/0032-peering-clearing-settlement/ https://interledger.org/rfcs/0032-peering-clearing-settlemen... : > Peering, Clearing and Settling; The Interledger network is a graph of nodes (connectors) that have peered with one another by establishing a means of exchanging ILP packets and a means of paying one another for the successful forwarding and delivery of the packets.

This is about the Fed banning it's own policymakers from owning them, not about congress.

smnrchrds 5y ago

Chair of the Federal Reserve has a salary of US$221,400.

animal_spirits 5y ago

Correct, the article has zero mentions of congress

Roboprog 5y ago

Perhaps someone will start a “Speaker of the House” index fund which the officers from the Federal Reserve can buy, since they won’t be able to buy individual stocks.

glial 5y ago
Folks are doing it manually: https://www.npr.org/2021/09/21/1039313011/tiktokers-are-trading-stocks-by-watching-what-members-of-congress-do https://www.npr.org/2021/09/21/1039313011/tiktokers-are-trad...
- tlear 5y ago
  This is good “The Speaker has no prior knowledge or subsequent involvement in any transactions," said the spokesperson.

tessierashpool 5y ago

thank you for this extremely important correction. I was reading the comments instead of the article and wondering in the back of my mind how the Fed even had jurisdiction over Congress. sure hope it remains visible in the comment hierarchy.

denton-scratch 5y ago
I went to the article; the UI is horribly broken, and prevented me reading past the first para (by continuously reloading); but I got that it was about their own staff.

whimsicalism 5y ago

Yeah but who has time to do such an in-read depth of *checks notes*... the headline?

nerfhammer 5y ago

Would the Fed actually have the authority to even do that, regulate what securities Congress members are allowed to hold?

dnautics 5y ago
probably not. Then again, does the fed actually have the authority to do some of the things that it does?
kolbe 5y ago
“The Fed” as in the Federal Reserve: no. “The Fed” as in the Federal Government: yes.
- westurner 5y ago
  "Blind Trust" > "Use by US government officials to avoid conflicts of interest" https://en.wikipedia.org/wiki/Blind_trust https://en.wikipedia.org/wiki/Blind_trust https://www.oge.gov/ https://www.oge.gov/ ... If you want to help, you must throw all of your startup equity away. ... No, you may not co-brand with that company (which is not complicit with your agenda). ... Besides, I'm not even eligible for duty: you can't hire me. ... Maybe I could be more helpful from competitive private industry. ... How can a government hire prima donna talent like Iron Man? ... Is it criminal to start a solvent, sustainable business to solve government problems, for that one customer? ... Which operations can a government - operating with or without competition - solve most energy-efficiently and thus cost-effectively? Looks like single-payer healthcare and IDK what else? (Edit) US Digital Services Playbook: https://github.com/usds/playbook https://github.com/usds/playbook From https://www.nist.gov/itl/applied-cybersecurity/nice/nice-framework-resource-center https://www.nist.gov/itl/applied-cybersecurity/nice/nice-fra... : > "NIST Special Publication 800-181 revision 1, the Workforce Framework for Cybersecurity (NICE Framework), provides a set of building blocks for describing the tasks, knowledge, and skills that are needed to perform cybersecurity work performed by individuals and teams. Through these building blocks, the NICE Framework enables organizations to develop their workforces to perform cybersecurity work, and it helps learners to explore cybersecurity work and to engage in appropriate learning activities to develop their knowledge and skills. From "NIST Special Publication 800-181 Revision 1: Workforce Framework for Cybersecurity (NICE Framework)" (2020) https://doi.org/10.6028/NIST.SP.800-181r1 https://doi.org/10.6028/NIST.SP.800-181r1: > 3.1 Using Existing Task, Knowledge, and Skill (TKS) Statements (Edit) FedNOW should - like mCBDC - really consider implementing Interledger Protocol (ILP) for RTGS "Real-Time Gross Settlement" https://interledger.org/developer-tools/get-started/overview/ https://interledger.org/developer-tools/get-started/overview... From https://interledger.org/rfcs/0032-peering-clearing-settlement/ https://interledger.org/rfcs/0032-peering-clearing-settlemen... : > Peering, Clearing and Settling; The Interledger network is a graph of nodes (connectors) that have peered with one another by establishing a means of exchanging ILP packets and a means of paying one another for the successful forwarding and delivery of the packets.