5 ms·

Is Doge Securities Fraud?

70 points by ioblomov 2y ago

KingLancelot 2y ago
[dead]
actionfromafar 2y ago
D.O.G.E. may actually be all other kinds of fraud.
jmclnx 2y ago
Yes, plus others. It is to enrich Trump and as a side effect to trickle some down to tech bros.
- amelius 2y ago
  pros -> bros
  - jmclnx 2y ago
    Thanks, I fixed it. bros is what I meant :)
HPsquared 2y ago
Related: "Everything, Everywhere is Securities Fraud" (also Bloomberg) https://www.bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud https://www.bloomberg.com/opinion/articles/2019-06-26/everyt... If I was to look for likely malfeasance, it'd be insider trading related to the tariffs.
- mitchbob 2y ago
  https://archive.ph/2024.10.06-001207/https://www.bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud https://archive.ph/2024.10.06-001207/https://www.bloomberg.c...
smallmouth 2y ago
I don't know how valid the article is, but speaking of securities fraud, I now read that DOGE is interested in the "Sudden Wealth" of so many congresscritters. I'd be interested in that as well.
- unsnap_biceps 2y ago
  Of so many democrat congresscritters. Really if they were interested in helping out the systemic issues, the right would be supporting bills that remove the ability of congresscritters to trade individual stocks. This has been attempted over the years, a great example is S.3631 in 2022 or S.1171 in 2023. It would be amazing to get it codified rather then witch hunting that's going on now.
  - HPsquared 2y ago
    It'd take quite a lot of "willpower" for congress to enact such a law.
  - citizenpaul 2y ago
    Restricting the rights of those with the power making the rules never works. Its best to just accept a certain level of corruption so its at least out in the open. It is and always will happen, in fact its part of the very foundation of power structures and cannot ever be removed. All laws will do is increase the layers of deceit making it even more difficult to see why bad things are happening. I always think it is weird that so many people that don't work in government have this odd belief that government work should basically be a vow of poverty. To pretend that people pursuing positions of power would accept universally that they should be poor is to deny human nature, which never works.
    - rat87 2y ago
      It shouldn't be a vow of poverty but it shouldn't open corruption shouldn't be acceptable. Instead we should raise their wages a bit
      - 2y ago
goles 2y ago
https://archive.is/NFiEq https://archive.is/NFiEq
- legitster 2y ago
  As a condition of bringing his newsletter to Bloomberg, Matt Levine made it a requirement that people could still sign up to get it delivered to their inboxes for free: https://www.bloomberg.com/account/newsletters/money-stuff https://www.bloomberg.com/account/newsletters/money-stuff I cannot recommend it enough - after all these years it's still a daily treat to read.
  - bb88 2y ago
    It's good, and funny, and does a great job of simplifying financial complexity down into small morsels of understandable content. Now that he has a podcast, I would like someone to generate an AI reader in the style of his voice so I can listen to it when driving.
    - mistrial9 2y ago
      I would like Matt Levine to choose how his personal voice and style are brought to the market
legitster 2y ago
> There’s a reason I write about “everything is securities fraud” all the time. It is weird to filter US political and legal life through securities fraud; it is weird to try to find ways to fit political disagreements into the framework of securities fraud. I mean, it’s fine when my readers email me about it — I sort of ask for it! — but it’s weird when actual politicians survey their range of potential actions and think “ah yes securities fraud lawsuit.” I wrote last year that “the thesis of ‘everything is securities fraud’ is that US law is somehow more responsive to financial-market claims than it is to other, substantive claims.”
- CRConrad 2y ago
  > the thesis of ‘everything is securities fraud’ is that US law is somehow more responsive to financial-market claims than it is to other, substantive claims. Seems utterly plausible. Financial-market claims feel rather likely to arise much more often, relatively speaking, among rich people than poor.

70 points by ioblomov 2y ago

KingLancelot 2y ago

[dead]

actionfromafar 2y ago

D.O.G.E. may actually be all other kinds of fraud.

jmclnx 2y ago

Yes, plus others. It is to enrich Trump and as a side effect to trickle some down to tech bros.

amelius 2y ago
pros -> bros
- jmclnx 2y ago
  Thanks, I fixed it. bros is what I meant :)

HPsquared 2y ago

Related: "Everything, Everywhere is Securities Fraud" (also Bloomberg) https://www.bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud https://www.bloomberg.com/opinion/articles/2019-06-26/everyt... If I was to look for likely malfeasance, it'd be insider trading related to the tariffs.

mitchbob 2y ago
https://archive.ph/2024.10.06-001207/https://www.bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud https://archive.ph/2024.10.06-001207/https://www.bloomberg.c...

smallmouth 2y ago

I don't know how valid the article is, but speaking of securities fraud, I now read that DOGE is interested in the "Sudden Wealth" of so many congresscritters. I'd be interested in that as well.

unsnap_biceps 2y ago
Of so many democrat congresscritters. Really if they were interested in helping out the systemic issues, the right would be supporting bills that remove the ability of congresscritters to trade individual stocks. This has been attempted over the years, a great example is S.3631 in 2022 or S.1171 in 2023. It would be amazing to get it codified rather then witch hunting that's going on now.
- HPsquared 2y ago
  It'd take quite a lot of "willpower" for congress to enact such a law.
- citizenpaul 2y ago
  Restricting the rights of those with the power making the rules never works. Its best to just accept a certain level of corruption so its at least out in the open. It is and always will happen, in fact its part of the very foundation of power structures and cannot ever be removed. All laws will do is increase the layers of deceit making it even more difficult to see why bad things are happening. I always think it is weird that so many people that don't work in government have this odd belief that government work should basically be a vow of poverty. To pretend that people pursuing positions of power would accept universally that they should be poor is to deny human nature, which never works.
  - rat87 2y ago
    It shouldn't be a vow of poverty but it shouldn't open corruption shouldn't be acceptable. Instead we should raise their wages a bit
    - 2y ago

goles 2y ago

https://archive.is/NFiEq https://archive.is/NFiEq

legitster 2y ago
As a condition of bringing his newsletter to Bloomberg, Matt Levine made it a requirement that people could still sign up to get it delivered to their inboxes for free: https://www.bloomberg.com/account/newsletters/money-stuff https://www.bloomberg.com/account/newsletters/money-stuff I cannot recommend it enough - after all these years it's still a daily treat to read.
- bb88 2y ago
  It's good, and funny, and does a great job of simplifying financial complexity down into small morsels of understandable content. Now that he has a podcast, I would like someone to generate an AI reader in the style of his voice so I can listen to it when driving.
  - mistrial9 2y ago
    I would like Matt Levine to choose how his personal voice and style are brought to the market

legitster 2y ago

> There’s a reason I write about “everything is securities fraud” all the time. It is weird to filter US political and legal life through securities fraud; it is weird to try to find ways to fit political disagreements into the framework of securities fraud. I mean, it’s fine when my readers email me about it — I sort of ask for it! — but it’s weird when actual politicians survey their range of potential actions and think “ah yes securities fraud lawsuit.” I wrote last year that “the thesis of ‘everything is securities fraud’ is that US law is somehow more responsive to financial-market claims than it is to other, substantive claims.”

CRConrad 2y ago
> the thesis of ‘everything is securities fraud’ is that US law is somehow more responsive to financial-market claims than it is to other, substantive claims. Seems utterly plausible. Financial-market claims feel rather likely to arise much more often, relatively speaking, among rich people than poor.