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I don’t know why this hasn’t been proposed sooner? Or was there any attempt before this?
by livinglist 4y ago
I don’t know why this hasn’t been proposed sooner? Or was there any attempt before this?
- rodneyhayes 4y agoSTOCK act 2012. I believe it was quietly repealed.
- JumpCrisscross 4y ago> STOCK act 2012. I believe it was quietly repealed. No, it wasn't. It was scoped back, uncontroversially, to not apply to e.g. Congressional staffers. It still applies to "the President, Vice President, Congress, or anyone running for Congress" [1]. It also, more controversially, "eliminated the requirement for the creation of searchable, sortable database of information in reports, and the requirement that reports be done in electronic format, rather than on paper." The law and its penalties still apply to members of Congress. It just permitted them to file on paper. That leads to crap like this [2]. Still, a long shot from repeal. [1] https://en.wikipedia.org/wiki/STOCK_Act#Amendment https://en.wikipedia.org/wiki/STOCK_Act#Amendment [2] https://www.businessinsider.com/stocks-congress-trading-disclosures-house-senate-ro-khanna-2022-5?r=US&IR=T https://www.businessinsider.com/stocks-congress-trading-disc...
- rodneyhayes 4y agoGreat information, thank you.
- encryptluks2 4y ago
- ckardat123 4y agoPelosi's Nvidia sale was timed poorly. $NVDA is up about 8% in the two days since they sold.
- encryptluks2 4y agoHere is the story: https://www.marketwatch.com/story/house-to-vote-thursday-on-chips-and-science-bill-but-measure-faces-some-trouble-after-manchin-bombshell-11659019738 https://www.marketwatch.com/story/house-to-vote-thursday-on-... When you see the CHIPS socialism for the rich act stall, and ultimately NVIDIA will be affected and NVDA goes down below that.. what is a couple days ultimately, if you get out ahead of a much larger drop?
- ckardat123 4y agoI'm operating on the assumption that the market has already priced the possibility of the CHIPS Act failing into the current price of $NVDA. It's possible that new information will come out that will lead to the price of $NVDA dropping, but I think that your initial comment was pretty misleading as the new announcement has not lead to Pelosi's sale being profitable.
- _fizz_buzz_ 4y agoThis needs a big [citiation needed]! Why would you throw such serious accusations around without a source?
- tenpies 4y agoIs this not common knowledge? Pelosi is a fantastic fund manager. If she weren't a politician she would crush almost every fund manager out there. You really have to be a die-hard Democrat to even pretend that it's a coincidence. See: https://unusualwhales.com/i_am_the_senate/pelosi https://unusualwhales.com/i_am_the_senate/pelosi
- ckardat123 4y agoThe comment above is plainly false though. Pelosi's sale of Nvidia was timed incredibly poorly, if the goal was to avoid short-term price movement around the CHIPS Act news. $NVDA is up about 8% in the two days since the sale.
- encryptluks2 4y agoUp 8% now, down 15-20+% in the near future. Hm... would you rather sale now if you have a heads up that the CHIPS act is going to stall and affect the price, which is correlated to others in the industry, or wait until is down more?
- deleted 4y ago[deleted]
- colinmhayes 4y agoNvidia isn’t benefiting form the chips act, so this makes no sense.
- encryptluks2 4y agoI think it is silly to say they don't benefit from it just because they aren't directly getting handouts. Many suppliers would benefit even if they were not handed the money directly.