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This is a pretty click bait title. Banning congress people and their families from trading any stock altogether is pretty extreme. There are laws against using
by blululu 5y ago
This is a pretty click bait title. Banning congress people and their families from trading any stock altogether is pretty extreme. There are laws against using material non public information in trades that are clearly being violated and these laws should be enforced and strengthened. An outright ban is a bit of a big imposition. Creating narrow trading windows, or requiring trades to be pre-planned are both reasonable approaches, but the article focuses instead on the most extreme form of restriction and ignores any of the more reasonable reforms.
- dcist 5y agoIt's not extreme. Being a politician should not be financially rewarding, period.
- blululu 5y agoAgreed that being a politician should not be financially rewarding. There are lots of policy initiatives that can achieve this end. Using insider information is already illegal, but poorly enforced (probably the easiest step here). Implementing restricted trading windows or insisting that people plan their trades ~3 months in advance is also a reasonable policy that is common practice among senior executives at large corporations. Banning people from trading stocks outright is actually quite extreme in America. Basic things like saving for retirement or buying a home effectively require people to buy and sell stocks. Saying that someone can't own stocks just because their aunt is a congresswoman feels like it is going too far.