I have been seeing a bunch of articles implicating US senators of insider training. Here is one example.
Why have no charges been brought against these POS? Martha did her time. I would at think at a minimum that they should be removed from office for these felonious actions that are well documented.
Going forward, I don’t see a rational for allowing representatives to own individual stocks. There is just to much conflict of interest to allow it.
What are your thoughts?
What vehicle should they use for retirement?
I am okay with them using things like index funds. Additionally, US senators do not need retirement. They get paid for life after office, which is also BS IMO.
Edit: They have really good benefits, but not quite what I was thinking.
I have a lot of things I think we should hammer like this at the national level which I believe would limit corruption. Nothing would pass though because “what about freedom.” Which in congressional speak would be freedom to get rich from corruption.
Lobbying and election spending should be reigned in big time. But I suppose that is limiting free speech. You should definitely have the freedom to buy your vote. It’s what the founders would have wanted.
I can no longer herp-derp myself into arguing or believing from a given point or principal in support of people who are so bold faced lacking in principal and who’s only point in anything is to take/make as much money as they possibly can.
What was that report like 70 of the 85 lines that killed derivatives after the bank bailouts were written by Citigroup lobbyists. We had a financial crisis. Said let’s work on stuff to keep it from happening again. And then hired the guys who helped cause it!
The big banks said you will not attempt to make rules for us unless we help or write them for you. We should have wiped our ass with the constitution and started the whole thing from scratch right there.
But free speech. Bring that money in. Roll in that free speech. No such thing as too much influence.
96.72457777777773% chance absolutely nothing will happen to them.
At worst in 12-18 months time a couple will have to squirm and eat crow for an afternoon before a judicial committee
Hopefully people take that stance come time to vote. I think people are going to be pretty frustrated with covid-19 by November. Hopefully some political opponents bring up their illegal profiteering from the virus.
There’s less chance than that. Their investments are managed through a blind trust. They don’t communicate with their money managers and they don’t ever know what they are invested in.
No doubt, she came home and told her connected husband the situation and he got word to the right people but unless someone spills the beans, which they have no incentive to do, there will be no repercussions. Let’s hope the voters remember.
Spot on sir.
Epstein also committed suicide.
They kinda did. They voted for and believed the lies of corporate Democrats. How are those 2k stim. checks working out for people?
Why is trading even legal for a politician? If you wanna trade, don’t run for office.
As someone said up thread, what vehicle should politicians use for retirement?
Right now it’s a hearse.
Better be an electric hearse
What type of pension do they receive? I’d have thought it wasn’t the type to leave them in penury.
They could presumably make some type of congressional defined contribution pension, like the vast majority of people in any pension system.
Index funds, mutual funds, the basic growth funds that you find in a 401k. Preparing for retirement does not require that you are micromanaging a portfolio of individual stocks that allow you to trade on insider information. I own a fair bit of stock through my retirement 401ks, but I couldn’t tell you a single individual stock that I own. That should be a reasonable model for government officials.
Is that not the model they are already using? Having a financial advisor manage their well diversified accounts? Additionally, i max out my 401k, maxed out my IRA and still had savings i wanted to invest, so i have a separate investment account that is much more stock heavy. And its not like i make a ton of money. My wife does the same, but she has a probono financial advisor through her company that manages her retirement portfolio (separate from the 401k/IRA). What are politicians supposed to do with their big ol’ nest egg retirement account? Tell their financial advisor who manages the account to not try and make them money?
I think a more reasonable and/or fair option would be to have all of congress (and potus) turn over their personal accounts to a centralized financial advisor who would manage everyone’s portfolios until they leave office to avoid individual politicians getting rich off inside information. Or, better yet find someway to tie their portfolio growth to the growth of the stockmarket as well as economy in general.