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That's a very interesting idea. One obvious downside is a congressman might change their position faster than you can because they have advanced knowledge, so i
by gleenn 4y ago
That's a very interesting idea. One obvious downside is a congressman might change their position faster than you can because they have advanced knowledge, so it would be riskier to hold the same position. Especially if that linked page updates even a little slowly. Secondly, they might have that position knowing exactly that - that they will have advanced knowledge and there it's worth having it at all. They know they have advanced knowledge so they are capable of riskier things. They also know that people can see their positions so they could game everyone by luring them into positions which they could exit quickly so as to pump and dump.
- thallium205 4y agoDo they actually do that though? Pump and dump their followers?
- Joel_Mckay 4y agoI'd wager it is heavily correlated with political lobbyist campaign donations. Theoretically they couldn't really trade quickly due to the speed of bureaucracy, but could change future legal policy that affects an industry commodity. =)
- fisherjeff 4y agoThis actually makes me think that an appropriate way to deal with congresspeople trading stock may be to require trade disclosure, say, a week in advance.