Of course they did insider trading, but (a) no that’s not the main game, the protection racket is, and (b) gosh it might have been a good idea to make that illegal then like AOC and others proposed instead of Dem leadership keeping it legal so they could do it themselves for years - ThreadSky

jslez.bsky.social • 4 days ago

Of course they did insider trading, but (a) no that’s not the main game, the protection racket is, and (b) gosh it might have been a good idea to make that illegal then like AOC and others proposed instead of Dem leadership keeping it legal so they could do it themselves for years

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ann1ebee.bsky.social•4 days ago

We could've elected Warren who's called for an end to trading & ownership by members of Congress and high ranking govt officials for years. I hope she partners with AOC on this. They seem aligned.

highlawn.bsky.social•4 days ago

Thank you, I thought I was the only one.

fightlies.bsky.social•4 days ago

jslez.bsky.social•4 days ago

They definitely did insider trading!

You can also draw this chart for many decisions by Congress including in the years when Good Guys were in charge

fightlies.bsky.social•4 days ago

But this is the biggest example in history and NOBODY is going to be investigated for it.

jslez.bsky.social•4 days ago

Hard to investigate the thing that’s legal

Democratic controlled congresses failed to ban insider trading by politicians. It’s literally legal

fightlies.bsky.social•4 days ago

Insider trading is NOT legal.
Stock trading by politicians IS still legal, and many people think it should not be legal because of the prevalence of insider trading.

But ANY trading with non-public information is already ILLEGAL.

jslez.bsky.social•4 days ago

https://campaignlegal.org/update/stock-act-failed-effort-stop-insider-trading-congress

https://www.reddit.com/r/legaladviceofftopic/s/zsAxA8w88E

jslez.bsky.social•4 days ago

Specifically, the “moderate” lowkey corrupt leadership killed attempts by progressives like AOC to ban it

jslez.bsky.social•4 days ago

The majority leader was buying leveraging derivatives on stocks she was regulating. Good luck explaining to Americans how the real issue is just doing this a bit differently and too much https://finance.yahoo.com/news/nancy-pelosi-outperformed-nearly-every-180016264.html

bioturbonick.net•4 days ago

Not hard at all "all of it sucks, should be banned, and it's far worse to be the guy actually manipulating the market over just using inside information"

Not that hard.

jslez.bsky.social•4 days ago

Sounds like you’re convinced that the voting and caucus lobbying efforts of our side’s leaders is entirely unaffected by multimillion dollar insider trading portfolios they’ve built up

mdwallach.bsky.social•4 days ago

I mean the question of how hard is it to do and are the corrupt shits going to do it are a bit difffeent, but it’s important to differentiate that. For example, we can make them do it (somewhat) by doing things like threatening their elected positions, state audits of them, etc

mdwallach.bsky.social•4 days ago

Basically we can learn from the Nazis about one thing, which is this crop of gormless shitbird legislators respond to fear and while we don’t have to like threaten their kids maga style we can hurt their careers

mdwallach.bsky.social•4 days ago

Primary threats, angry contacts, opposition fundraising, protest, it works

jslez.bsky.social•4 days ago

*leveraged. Calls/puts

mdwallach.bsky.social•4 days ago

Hahahaha I hate it here how have we consistently elected the worst few hundred people in the country

jslez.bsky.social•4 days ago

This NYT analysis is useful https://www.nytimes.com/interactive/2022/09/13/us/politics/congress-members-stock-trading-list.html

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