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I've been collecting and sharing (@QuiverCongress on Twitter) data on stock trading by U.S. congressmen for the past couple years. While there is currently leg

I've been collecting and sharing (@QuiverCongress on Twitter) data on stock trading by U.S. congressmen for the past couple years. While there is currently legislation that requires congressmen to disclose their financial dealings, enforcement around it is incredibly weak. Congressmen are supposed to disclose stock transactions within 45 days of when they are made, but in practice there are dozens of violations of this rule which result in hardly a slap on the wrist. I've seen a couple cases of politicians conveniently waiting till after election cycles to disclose controversial trades. While I'm generally pessimistic about the odds of congress voting to regulate itself, I'm still hopeful that something comes from this push. There's certainly a lot of room for improvement.

munk-a 4y ago
If it becomes a big enough liability that prominent representatives are concerned about their reelection due to it then it will happen. Yes, Congress is reluctant to specifically legislate against itself, so to make it happens a stink must be raised.
- ckardat123 4y ago
  Yeah, I definitely don't want to write it off entirely. The STOCK act passed 96-3, so while congress might not tend to be keen on regulating themselves, it's not completely allergic. Interestingly, one of the 3 'no' votes on the STOCK act was later engaged in some of the fishiest trading I've seen around the start of COVID. Here's a visual I made on it: https://www.reddit.com/r/dataisbeautiful/comments/gwocvt/sen_richard_burr_stock_transactions_alongside_the/ https://www.reddit.com/r/dataisbeautiful/comments/gwocvt/sen...
- yndoendo 4y ago
  Binding resolution allows for We the People to force the legislative body to enact legislation that they oppose. This is now cannibals become legal in Colorado. Unfortunately not all states have binding resolution nor are legislative body willing to empower the people. Binding resolution also needs to be bound at a Federal level, which it is not, to bring in true balance of power and laws that have true accountability. Such as all money gained through insider trading is forfeited along with possible jail time and possible loss ability to be a constitute representative. If binding resolution was an available tool for We the People, legislative body would work move together than separately.
  - jwkane 4y ago
    Cannibals are legal in Colorado? Can't wait for the next Top Chef -- Denver edition.
SoftTalker 4y ago
I'm not sure a complete ban is necessasry, but their investments should be moved to a blind trust while they are in office, and perhaps for some time afterwards.
- deleted 4y ago
  [deleted]
- thatswrong0 4y ago
  Blind trust, and only allow index funds. Maybe forever after holding office, to further dissuade corruption.
melony 4y ago
- DiggyJohnson 4y ago
  I don’t see any shilling in this comment in particular, and I have no relationship or awareness of this person or their company. Unless GP comment was edited, I think you are the one violating the HN guidelines for not responding to the best interpretation of a comment.
- ckardat123 4y ago
  I haven't even unlocked the downvote button, and certainly don't have anyone on my small team downvoting you. I don't think that anything in my 5 HN posts and handful of comments warrants a ban. I've been posting less and less on Reddit recently, but I believe that if you block me on that platform my future posting should be hidden. Reddit posting was definitely big for early traction on my site, but I never used any inorganic methods to promote my work.

munk-a 4y ago

If it becomes a big enough liability that prominent representatives are concerned about their reelection due to it then it will happen. Yes, Congress is reluctant to specifically legislate against itself, so to make it happens a stink must be raised.

ckardat123 4y ago
Yeah, I definitely don't want to write it off entirely. The STOCK act passed 96-3, so while congress might not tend to be keen on regulating themselves, it's not completely allergic. Interestingly, one of the 3 'no' votes on the STOCK act was later engaged in some of the fishiest trading I've seen around the start of COVID. Here's a visual I made on it: https://www.reddit.com/r/dataisbeautiful/comments/gwocvt/sen_richard_burr_stock_transactions_alongside_the/ https://www.reddit.com/r/dataisbeautiful/comments/gwocvt/sen...
yndoendo 4y ago
Binding resolution allows for We the People to force the legislative body to enact legislation that they oppose. This is now cannibals become legal in Colorado. Unfortunately not all states have binding resolution nor are legislative body willing to empower the people. Binding resolution also needs to be bound at a Federal level, which it is not, to bring in true balance of power and laws that have true accountability. Such as all money gained through insider trading is forfeited along with possible jail time and possible loss ability to be a constitute representative. If binding resolution was an available tool for We the People, legislative body would work move together than separately.
- jwkane 4y ago
  Cannibals are legal in Colorado? Can't wait for the next Top Chef -- Denver edition.

SoftTalker 4y ago

I'm not sure a complete ban is necessasry, but their investments should be moved to a blind trust while they are in office, and perhaps for some time afterwards.

deleted 4y ago
[deleted]
thatswrong0 4y ago
Blind trust, and only allow index funds. Maybe forever after holding office, to further dissuade corruption.

melony 4y ago

DiggyJohnson 4y ago
I don’t see any shilling in this comment in particular, and I have no relationship or awareness of this person or their company. Unless GP comment was edited, I think you are the one violating the HN guidelines for not responding to the best interpretation of a comment.
ckardat123 4y ago
I haven't even unlocked the downvote button, and certainly don't have anyone on my small team downvoting you. I don't think that anything in my 5 HN posts and handful of comments warrants a ban. I've been posting less and less on Reddit recently, but I believe that if you block me on that platform my future posting should be hidden. Reddit posting was definitely big for early traction on my site, but I never used any inorganic methods to promote my work.