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If they obtained info about this through their role as a senator/congressperson, and not just through normal channels. If I understand it correctly: Insider t
by dmoy 3y ago
If they obtained info about this through their role as a senator/congressperson, and not just through normal channels. If I understand it correctly:
Insider trading off of classified or whatever info they get from their senate/congress job - not illegal (though imo it should be illegal). (Edit: as mandevil points out, strictly speaking illegal, but largely uneforceable/unenforced)
Insider trading off of info they got from their buddy at XYZ place who knew about something ahead of time, unrelated to their senate/congress job - still illegal, same as for other people.
- bee_rider 3y agoWhy don’t people track the investments of senators and congresspeople and race to follow them? It seems like an easy way to get nearly insider trading.
- dmoy 3y agoIn 2013 the electronic disclosure part of the 2012 STOCK act was removed, so they can just disclose in some way you can't follow.
- qwytw 3y agoBecause: > Trades executed by lawmakers or their families must be disclosed within 45 days of execution Is probably an issue (it's it's actually insider trading). People do track it, though: https://www.capitoltrades.com/politicians https://www.capitoltrades.com/politicians
- ada1981 3y agoAs in they need to announce them 45 days before they make them? Or 45 days after?
- dmoy 3y agoAfter
- deleted 3y ago[deleted]
- zinglersen 3y agoAfter.
- ada1981 3y agoWe really ought to make them disclose them in advance like CEOs.
- dmoy 3y agoI would be 100% supportive of all congresspeople being required to file 10b5-1 plans in advance for the whole year, for any stock holdings
- ada1981 3y agoRight, they still get legally protected insider trading otherwise. The public ought to benefit from the same insights and info. And if a trade disclosure would be considered a threat to national security for some reason, you don’t make the trade.
- ada1981 3y agoHas anyone calculated how much $$$ has been made by Congress folks due to this type of trading?
- gsuuon 3y agoThis is a thing: https://www.quiverquant.com/sources/senatetrading https://www.quiverquant.com/sources/senatetrading