4 ms·

Members of Congress Violate Insider Trading and Conflict of Interest Law

atlasunshrugged 5y ago
Bi-partisanship is alive and well when it comes to circumventing rules to enriching oneself.
- WhisperingShiba 5y ago
  I keep beating this drum; The consequences for not accumulating wealth at every moment feels too high. This society is horribly sick with a case of prisoner's dilemma.
mercy_dude 5y ago
They forgot the absolute champion of them all - Nancy Pelosi. There is actually a Twitter account @NancyTracker that shows how her husband has been pulling over 1000+% gains for a number of years. Absolutely stunning.
- jjeaff 5y ago
  A year or so ago I went down the rabbit hole of her stock trades and some of the people making those claims. And I found the claims of outsized returns to be rather dubious. And that was me coming in with the assumption that she was cheating.
- kadoban 5y ago
  That account seems to spend most of its time on opinion. Any particularly interesting data it points out? > shows how her husband has been pulling over 1000+% gains for a number of years. How many years? You don't have to start with much or go for long for 10x yearly gains to mean you own more than the total wealth of the universe. Is there some hyperbole here?
  - jjeaff 5y ago
    It only looks that bad if you point out the winning trades and ignore the losers.
  - tata71 5y ago
    They're investment positions. Not odds for slot machine you can keep pulling the handle on all day.
    - kadoban 5y ago
      Then what does "pulling over 1000+% gains for a number of years" mean _exactly_?
      - tata71 5y ago
        I took it as an allusion to increases in net worth/total portfolio.
        kadoban 5y ago
        Then it's just not at all interesting, if it's just once over an unspecified time period then _many_ investments satisfy that and it's not noteworthy.
nielsbot 5y ago
“well, why shouldn’t i trade these stocks? i’m a member of congress after all.”
akomtu 5y ago
If you trade stocks during a blackout period, you're a criminal and will be punished. If you're a senator, you just pass a law to exempt yourself from the rule and then you can do insider trading as much as you want.

Bi-partisanship is alive and well when it comes to circumventing rules to enriching oneself.

WhisperingShiba 5y ago
I keep beating this drum; The consequences for not accumulating wealth at every moment feels too high. This society is horribly sick with a case of prisoner's dilemma.

They forgot the absolute champion of them all - Nancy Pelosi. There is actually a Twitter account @NancyTracker that shows how her husband has been pulling over 1000+% gains for a number of years. Absolutely stunning.

jjeaff 5y ago
A year or so ago I went down the rabbit hole of her stock trades and some of the people making those claims. And I found the claims of outsized returns to be rather dubious. And that was me coming in with the assumption that she was cheating.
kadoban 5y ago
That account seems to spend most of its time on opinion. Any particularly interesting data it points out? > shows how her husband has been pulling over 1000+% gains for a number of years. How many years? You don't have to start with much or go for long for 10x yearly gains to mean you own more than the total wealth of the universe. Is there some hyperbole here?
- jjeaff 5y ago
  It only looks that bad if you point out the winning trades and ignore the losers.
- tata71 5y ago
  They're investment positions. Not odds for slot machine you can keep pulling the handle on all day.
  - kadoban 5y ago
    Then what does "pulling over 1000+% gains for a number of years" mean _exactly_?
    - tata71 5y ago
      I took it as an allusion to increases in net worth/total portfolio.
      - kadoban 5y ago
        Then it's just not at all interesting, if it's just once over an unspecified time period then _many_ investments satisfy that and it's not noteworthy.

nielsbot 5y ago

“well, why shouldn’t i trade these stocks? i’m a member of congress after all.”

akomtu 5y ago

If you trade stocks during a blackout period, you're a criminal and will be punished. If you're a senator, you just pass a law to exempt yourself from the rule and then you can do insider trading as much as you want.