If you're in congress and you aren't publicly in favor of banning the trading of individual stocks by people in congress, get your head out of your fucking ass.
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I don't think you will ever get Congress to vote against or outlaw its own interests. It will not happen until the people make it happen and that will probably take a violent revolution. I'm open to suggestions, but I do not see another viable path here.
We need more focus on the SAVE Act. If they pass this in Senate we’ll probably never have a fair election ever again. Millions of women will be unable to vote.
why isn’t anyone talking to Philip Low, Elon Musks x-Best Friend that actually has the courage and the balls to Stand up to him? Someone needs to bring more attention to his January posts about Elon Musks plan and ultimate goals! I can’t believe you all missed him, and WE THE PEOPLE know
Asking Congress to not take advantage of their positions of power when the voters are more than willing to allow it is, sorry to say, wish casting. The framers knew it. Everyone knows it. Voters keep politicians in check. But not in America. Start blaming voters, please.
Anyone with a fat bankroll and an options account would have made an ALARMING amount of money, if they had any advanced warning of these flip/flop announcements.
I’ll one up that. If you’re in Congress and aren’t publicly in favor of banning the trading of individual stocks by members of Congress, get the fuck out of Congress.
I would have thought a blind trust would be standard procedure to avoid conflict of interest. Or extend the clause regarding additional income to all levels of goverment.
If they get a big enough majority again Dems should make it compulsory to put your assets in a blind trust before running for national office. (Also releasing tax returns & medicals)
I agree that should be done but in this case I don't think it was congress calling the shots. I have no idea how accurate this assessment is, but it looks bad and highlights how there are others that ideally would be part of the policy too
Literally one of the most bipartisan issues of the 99%. Ask your mechanic, a cashier, a car dealer, a teacher, a dog walker, and every one of them will say "That should be illegal".
I think this is on us for continue to elect them just so they can serve themselves. This is why partisan voting sucks. Red of blue, if serving in office is making you rich, you are no longer serving your constituents.
Genuine question - retirement funds are usually stock-based, so what would be their alternative then? (And I’m thinking of like the 45-year-old freshman representative who fundraised to get there from individual donors, not those with millions already.)
retirement funds are generally based on mutual funds and index funds, a large collection of stocks and bonds, not stocks of individual companies. Hank is talking about banning trading stocks of specific companies
Until Trump came along this was the most nakedly corrupt thing about our government. Congress literally allowed to profit from the laws they pass (and the ones they don't). It's evil, and it's bipartisan
Representatives and Senators should be completely barred from trading any securities or commodities - stocks, bonds, gold, agricultural futures, etc., during their entire tenure. Period.
They should be not allowed to vote on any measures where they have a conflict of interest (a personal or family business that could benefit, etc.) And failure to disclose conflicts or to conform to those rules should result in their expulsion from Congress and bar them from future federal office.
Right....because If i had a free ATM I'd try to get rid of it, because why exactly?
They are all using their power to leverage the market for money. They aren't turning a blind eye, this isn't ignorance, it is self interest and corruption for nearly every last one of them.
Congress is AWOL - who are these people? ARE they ok with the corruption, security breaches, American dreams lost- means nothing. How can you SHAME them to do their JOB? THAT they are paid to do?
We live in a fascist dictatorship now, Hank. I’m sorry, but it’s true. For all that means, it’s true. And we need to face it head on. Denial is not serving us.
even funds. they should be forced to put their assets into blind trusts. I am thinking even their spouses. since a lot of times it's the spouse who makes lucky trades. it doesn't even have to be legally insider trading to still be unfair.
I don’t disagree. Any change you could promote folks calling their senators to oppose the SAVE Act? Millions of voters are about to be disenfranchised.
This!!! Hell, let's put them in public housing for the duration, too. Kind of like the Peace Corps. Give them a small stipend. It would weed out the greed.
My wife was saying they should only get paid the median income for the state they come from. Which would give them incentive to raise the standard of living in their state, if they want a bigger paycheck.
This has the opposite issues with motivations though. Then you loose a lot of talent to private industry. The current system is almost certainly worse and I feel your anger, but this doesn't seem ideal for choosing leadership of a country. Put another way, it also allows more money temptation
I've always said that they should make an average salary of all their constituents, that way they are more motivated to bring up the quality of life for those in their districts/states.
Also remove money as a barrier for entry by capping business contributions to campaigns,, yadda yadda.
A poorly paid congress is one in which only the independently wealthy can afford to take positions of power. Sounds good in concept, is a bad idea in reality.
Ok, I disagree with this. It creates bad outcomes. Limiting the pay for members of Congress makes it so that only those who are already wealthy can afford to work there. You also want them to be able to dedicate their chill time to understanding issues and crafting legislation.
Part time state legislatures like NH that pay their members almost nothing make it so that the legislators themselves have little time or expertise, and rely on industry and interests groups to write legislation for them. It’s bad.
It’s shameful that members of Congress make millions while remaining completely out of touch with their constituents and then they get upset when their constituents say they’re out of touch.
Buying a bunch of options knowing your party is likely going to pass some legislation (or an executive order will do) that will tank stock prices so you can buy dirt cheap and sell for the agreed upon high price doesn't sound like it will result in good outcomes. A tiny handful of people
get to fuck up the finances of millions of others (especially elderly retirees) to line your own pockets isn't terrible? They're still getting a salary much higher than the median salary. If we want to prevent corruption via bribes, kick out the trash in SCOTUS and reverse
the Citizens United decision. My experience with politicians that I know personally is that a lot of them aren't bright enough to understand the issues no matter how much time they dedicate to the task. The dumbasses vote other dumbasses into office because when you have a pathetic understanding
of the world and the issues at hand, you're likely to speak as though the issues are simple. And dumbasses can understand simple. They like simple. They vote for it.
Ok, I disagree with this. It creates bad outcomes. Limiting pay for teachers in schools makes it so that only those who are already wealthy can afford to work there. You also want them to dedicate their chill time to constructing thorough lessons…
Chill was a typo, I meant to type full. And I think teachers should be paid more and schools should receive funding so teachers aren’t buying classroom supplies with their own money.
All I’m saying is that the impulse to limit congressional pay because you’re mad at them only makes things worse.
I would venture a guess the post you replied to was not meant to limit the pay of congress so much as it is to advocate for high educator pay, though both would occur.
Teaching is an altruistic profession and gets paid accordingly. Should public servants not also be altruistic?
Exactly this. I have been considering a run for office. I think I have the background to be effective. But I can't afford the income hit. State offers virtually no compensation. Federal would cut my income in half. I have a kid in college and a mortgage. I can't afford that and rent in DC.
When Republicans and supporters are like “..Nancy Pelosi…” well, charge her, arrest her if she broke the law. Don’t excuse them just because you support them politically.
I find it interesting the "law and order" party that says they hate crooked politicians has openly become the "so what, your side is probably corrupt too" party.
Has a political movement ever debased itself so thoroughly? All because one malevolent narcissist demands nothing less from them.
They also berate us by saying we have "Trump Derangement Syndrome" and he lives rent free in our heads, like they weren't the ones spending their every waking hour complaining about Obama and Biden.
it’s already illegal! it took more than 20y after Trading Places, but there IS a law, & it’s even named after Eddie Murphy! why the FUUUUUCK is nobody enforcing it??
If you're in congress and you aren't publicly in favor of banning the trading of individual stocks by people in congress, ITS BECAUSE YOU'RE INSIDE TRADING
If you haven't seen it, "Look up" Is very relevant right now. Specifically, this song, about politicians needing to get their heads out of their assets
Congress consistently out performs the rest of the public in the market as well as the annual return average. This has been going on too long. That falls under "FRAUD" Doge or "ABUSE" TAKE YOUR PICK.
KEEP YOUR HANDS OFF SS AND HEALTHCARE 🇺🇸💪😠
They are there because taking taxpayer money to then make more money via insider trading and market manipulation is the point, not representing others.
How about all possible Stocks, ETFs, Cryptocurrencies, any type of options trading, Sports Betting, Casino Investment or Offshore Casinos. Hell, they aren't allowed to invest in anything other than the US government Bond or a pension fund
But none of their heads have flared bases. It's a disaster. This requires surgical removal. This is something that I do not know from personal experience.
Hear me out - we withdraw the consent of the governed (We the People) and re-establish with new and improved government policies - such as banning stock trading by congress.
💯 but I think it can apply to other things too! Every elected official not publicly supporting the banning of lying by candidates/elected also needs to get their head out of their ass.
Hank, I love ya, but here's my problem: Their heads aren't stuck up their asses. That implies a state of denial. They're not in denial; They know what's going on and they're in it for themselves. Please stop assigning charitability where there clearly isn't any - Get your head out of your ass.
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https://bsky.app/profile/ilhanmn.bsky.social/post/3lmg2e7spqc2y
Hear hear
And if they would sell out for Genocide, there is nothing NOTHING they won't sell out for.
Including insider trading for their own benefit.
Which is why no one should trust politicians who accept AIPAC money period.
Tldr project 2025
https://docs.google.com/document/d/1CISFEvJq3JekZYGPnm-fCAB2Xd43xls8w_8PBSQHQYY/mobilebasic
I'm f*ckin here for it!
Didn’t one buy stock in Zoom right before the shut down after WH briefing?
$1M donation to Trump after, no consequences.
https://www.npr.org/2020/04/13/832859747/stock-trades-after-coronavirus-briefing-complicate-loefflers-reelection-bid
https://endcitizensunited.org/latest-news/press-releases/all-in-the-family-sen-kelly-loefflers-husband-writes-1-million-check-to-trump-super-pac/
They don't care about white collar crimes, they have pardons
Impeach or gtfo
https://bsky.app/profile/ronfilipkowski.bsky.social/post/3lmfo5kjck22w
It’s a get rich quick scheme, on ill gotten gains.
In fact also the Senate, white house, cabinet, white house staff.
Also could enforce only long positions, no shorting for family members.
They are all using their power to leverage the market for money. They aren't turning a blind eye, this isn't ignorance, it is self interest and corruption for nearly every last one of them.
https://www.reddit.com/r/economy/comments/1jvmjfl/trump_introduces_charles_schwab_in_the_oval/
Sci-fan! 100%
see those wages and living standards go WAY up.
As a software engineer, it's definitely messed up how many jobs that are important for society get paid less and have less geographic flexibility
But... I also think the countries leaders should probably get more than those jobs
Also remove money as a barrier for entry by capping business contributions to campaigns,, yadda yadda.
All I’m saying is that the impulse to limit congressional pay because you’re mad at them only makes things worse.
Teaching is an altruistic profession and gets paid accordingly. Should public servants not also be altruistic?
It's the "you're just as bad as us" argument. You see it a lot with flat earth types and some religious arguments of various kinds.
Has a political movement ever debased itself so thoroughly? All because one malevolent narcissist demands nothing less from them.
And if banning insider trader hurts some dems, GREAT.
The remaining dems would be much better!!!
⬇️⬇️⬇️⬇️
https://youtu.be/BnyvDBGojoQ?si=-JXnGmK8lZFTQBZN
KEEP YOUR HANDS OFF SS AND HEALTHCARE 🇺🇸💪😠
Remember when Martha Stewart did hard time in prison for insider trading of 4000 ImClone shares to avoid a $46,000 loss in 2004?
The penalty for scooping a $305,000,000,000 insider trading move today? Seems to be reelection. Amazing.
That is all, carry on.
https://chng.it/5yNHZsVmdj
It just needs to be public WHEN they do it. Full disclosure.
3rd party investors & funds just make loop holes.
because.... this is the TRUTH. It's 2 Parties for the same 1%.
They chose to abandon Labor for the Money from Oligarchy and betrayed Labor, which Betrays 99% of us.
Regardless of the Nice things they SAY, they cannot DO them.
https://www.c-span.org/program/washington-journal/future-of-the-democratic-party/333721