Congress trading stock

[ZenMaster]

Will anything ever get done?


https://youtu.be/leKv2gdHl0c?t=261

[warriorfan]

It’s insane that it hasn’t been banned along time ago.

So many Congress members have portfolios that have had gains that are mathematically impossible without inside trading info.

They can’t really hide it. Their gains are just too good and too consistent.

[j3lademaster]

Can you summarize some of the key points they hit on in this video?

[warriorfan]

Can you summarize some of the key points they hit on in this video?

Trying to pass a bill that would require congress members and I believe the president to liquidate all stocks upon being elected. They would also have to divest from any companies they own if the company has over 500 employees.

Mitt Romney and others argued that they need to amend it so an elected member wouldn’t have to liquidate, they can hold onto their securities when elected, just not further trade them while in term.

Some argued that this bill will turn congress “into a rich man’s game”, I guess insinuating that people who aren’t rich won’t run for congress because of the potential limitations on their future growth if this bill passes..


It was argued that it already is a rich man’s game and this bill is necessary to keep it in check and preserve the integrity of the elected.

There was also discussion on how trading needs to be banned by spouses of congress members. I’ve personally heard this excuse been used before, “I don’t do the trading, my husband does”.


That’s about it.

[j3lademaster]

Trying to pass a bill that would require congress members and I believe the president to liquidate all stocks upon being elected. They would also have to divest from any companies they own if the company has over 500 employees.

Mitt Romney and others argued that they need to amend it so an elected member wouldn’t have to liquidate, they can hold onto their securities when elected, just not further trade them while in term.

Some argued that this bill will turn congress “into a rich man’s game”, I guess insinuating that people who aren’t rich won’t run for congress because of the potential limitations on their future growth if this bill passes..


It was argued that it already is a rich man’s game and this bill is necessary to keep it in check and preserve the integrity of the elected.

There was also discussion on how trading needs to be banned by spouses of congress members. I’ve personally heard this excuse been used before, “I don’t do the trading, my husband does”.


That’s about it.:cheers: my man.

Agree with Romney on this at first glance. Chances are, they’re holding very similar portfolios at varying sizes, so if every member sells at once that can potentially bomb some ipo’s and screw over investors who got in honestly. But this is where a little bit of knowledge is dangerous, because without seeing what they have it’s impossible to make the decision. But yeah, basically what you said, it should have been banned a long time ago before it even got to this point.