Dems Set To Push Bill To Ban Congress From Trading Stock

[The_Krakenite]

Finally, house Democrats are going to be addressing the ugly black eye of their leadership <cough> Nancy Pelosi <cough>making ungodly sums from day-trading millions of dollars worth of stock and options ahead of legislative initiatives - while, at the same time, railing on capitalism with every opportunity they get publicly.

https://www.zerohedge.com/markets/dems-set-push-bill-ban-congress-trading-stock

 

[Snuskpelle]

While I agree that the congressional insider trading should be banned, there is a way this change could be detrimental to US traders: A politician who personally trades will more likely be sympathetic to the legal and political issues traders face.

See e.g. an insane law that was made in Germany recently that puts a limit on losses that can be deducted from profits at 10 000 Euro, totally killing trading in impacted instruments. (Assuming this has not changed from what was reported a year ago.)

 

[MKTrader]

While I agree that the congressional insider trading should be banned, there is a way this change could be detrimental to US traders: A politician who personally trades will more likely be sympathetic to the legal and political issues traders face.

See e.g. an insane law that was made in Germany recently that puts a limit on losses that can be deducted from profits at 10 000 Euro, totally killing trading in impacted instruments. (Assuming this has not changed from what was reported a year ago.)

You always have to be careful about unintended (?) consequences. Ominbus bills suck. Dodd-Frank did nothing to address real issues but punished retail traders, real estate investors, etc. We simply need a law to stop the Pelosis and their organized political crime ilk.

 

[ET180]

Interesting that the bill was pushed by Democrats. So even they acknowledge that it looks bad to buy a position and then use one's own legislative power to try to transfer taxpayer money (well, who are we kidding...newly printed Fed bucks) into the companies they own.

 

[Windlesham1]

You always have to be careful about unintended (?) consequences. Ominbus bills suck. Dodd-Frank did nothing to address real issues but punished retail traders, real estate investors, etc. We simply need a law to stop the Pelosis and their organized political crime ilk.

Mr Pelosi is a well known trader -if it was anything slightly suspect you can bet the farm GOP would be all over it. Oh wait they took $100 million from the NRA- and that is just for starters. Dems are the buffer zone between normality and global destruction.

 

[MKTrader]

Mr Pelosi is a well known trader -if it was anything slightly suspect you can bet the farm GOP would be all over it. Oh wait they took $100 million from the NRA- and that is just for starters. Dems are the buffer zone between normality and global destruction.

The Pelosi's activities have been well documented in books and other places. You're obviously programmed to the point where you lack any capacity for independent critical thought.

 

[easymon1]

Dems

You funny.
https://www.elitetrader.com/et/threads/democrats-are-hypocrites.22263/page-23#post-5640807

 

[CET]

I'm sure ole Nancy will quickly usher this one through the house. NOT. This sounds like a talking point for the mid-terms that will never actually get passed by Congress.