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#311367 - 03/05/19 03:34 AM Oh no! She's coming for our insider trades!
NW Ponderer Offline
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Carpal Tunnel

Registered: 09/09/11
Posts: 16680
Remember AOC's viral video about corruption in Congress? It's having an impact: Alexandria Ocasio-Cortez is right about corruption in Congress (NBC, opinion). Follow the links in the story. Keep it up, folks! Abnormal Returns from the Common Stock Investments of the U.S. Senate (Harvard)
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Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

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#311372 - 03/05/19 04:03 AM Re: Oh no! She's coming for our insider trades! [Re: NW Ponderer]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 8309
Loc: North San Diego County
Scandalous, and Congressmen seem to be immune to insider trading laws.

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#311376 - 03/05/19 01:56 PM Re: Oh no! She's coming for our insider trades! [Re: NW Ponderer]
Ujest Shurly Offline
newbie

Registered: 10/16/16
Posts: 389
Loc: Sterling Heights, MI, USA
I seem to remember reading or watching a TV show where they mentioned that Congress specifically exempted themselves from many of the insider issues. Something about it could not be avoided because of the hearings that are held... :ohsnap: popcorn2
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#311387 - 03/05/19 08:38 PM Re: Oh no! She's coming for our insider trades! [Re: NW Ponderer]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 2370
Loc: Port Angeles, WA
Makes good sense to me! I remember when they were trying to fix things financial during Obama. Turned out that one of them Democratic house members was running a stock operation out of his office. If I remember correctly they figured out that the market moved according to their announcements. Given their positions they also had access to other stuff too so giving the selves a bit of an edge kinda makes sense? Don' make it right, but.............

As far as I can tell congress folk work approximately 3 days a week. They will tell you that they spend a lot more than that. Some may, some may not - the fact remains, that's how much time they spend that can be accounted for. This being the case, and the simple fact that they are horribly underpaid at 174,000.00 a year, one can understand why they might do a bit of stock trading?

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#311388 - 03/06/19 05:09 AM Re: Oh no! She's coming for our insider trades! [Re: jgw]
pdx rick Offline
Member
Carpal Tunnel

Registered: 05/09/05
Posts: 41177
Loc: Puget Sound, WA
Originally Posted By: jgw
...underpaid at 174,000.00 a year...


What?!? crazy

Have I told you that I'm going to run for Congress? Hmm , smile
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#311395 - 03/06/19 09:56 PM Re: Oh no! She's coming for our insider trades! [Re: NW Ponderer]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 8309
Loc: North San Diego County
Yes, even freshmen congressmen (and women) get that. BUT they are supposed to be representatives, so it's like they have one job in DC, and another one back home in their district, so for some of them the commute is a bitch! I suspect they aren't doing a lot of leisure activities.

There's no good reason they aren't forced by law to put their investments in a blind trust while they serve. Or just put them in index funds they never sell while in office, at the least.

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