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I mostly agree, but we only know a fraction of what the officials know. We wouldn't be able to tie purchases/sales to classified information for decades. The si
by insanitybit 4y ago
I mostly agree, but we only know a fraction of what the officials know. We wouldn't be able to tie purchases/sales to classified information for decades. The simplest solution is to have government officials engage in scheduled, double blind funds. They commit X dollars per month for N months, and they can only change the schedule with due notice of N months.
This is, to my knowledge, largely how executives handle the stock that they own, they have scheduled pre-arranged buys/sales, though with the government it has to be a bit broader (there's no such thing as blackout periods etc, they always have insider information).
I do believe that officials should be allowed to engage in the market given those restrictions. You need options like this to avoid abuse (a system that works well enough will keep most from trying to get around it) and you need options like this because otherwise you make politics a game for the rich (even more than it already is).