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I actually disagree. Federal employees have more strict stock regulations and yet we still see problems with private influence on the government. The issue is
by cogman10 1y ago
I actually disagree.
Federal employees have more strict stock regulations and yet we still see problems with private influence on the government.
The issue is our bribery laws are ridiculously weak. It's not illegal for your pals at Nestle to pay you 10x for your house or send your kids to college.
Stock is fairly public knowledge and you owning shares in Nestle doesn't do nearly as much to influence the laws you write regulating Nestle. You can always dump the stock before sending the laws out of committee.
The one positive of banning congressional stock trading is that at least it might make congressional people more sensitive to the broad market.
- threetonesun 1y agoMake your own crypto coin, maybe do a few press conferences about it and how great it is. If you find yourself in a situation where you might be legally immune to any prosecution, maybe just outright state that buying said asset will get you favoritism.
- cogman10 1y agoCrypto isn't stock. But yes, I'd support outright banning crypto, especially for Congress. WAAAAY to easy to spin up a new coin that effectively works as money laundering. That's a much worse scenario than stock currently is. It's a lot harder to create new stock.