Posted on Dec 16, 2021

Corruption: Pelosi defends letting sitting members of Congress trade stocks

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I disagree with Nancy for the reasons listed, and I want to know how many of them have stock in the Medical insurance companies and Hospital corporations.
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Corruption: Pelosi defends letting sitting members of Congress trade stocks

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Economics

Posted >1 y ago

Responses: 3

Suspended Profile

Posted >1 y ago

This is a tough one. Yeah I think it’s shady that the people who get closed door briefings on the economy can shift stocks around but I also don’t want to punish someone who is trying to secure their future in good faith. I believe most modern presidents have put their investments into blind trusts while in office, I think that could be a fair accommodation

SFC Casey O'Mally

>1 y

The article offers the solutions of index funds (which go up with the market as a whole, and remove conflict of interest concerns) or mutual funds (which are traded by others on their behalf, removing the Congressperson from decision making on individual funds).

I think either of those, and/or the blind trust would be viable options.

(2)

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Suspended Profile

>1 y

SFC Casey O'Mally I’m not a market expert, but I would also want them to be able to preserve existing investments once they take office. A lot of them already have a portfolio by the time they get elected and I wouldn’t want them to have to dump it to move the money elsewhere if they’re one of those who made smart decisions/got lucky

SFC Casey O'Mally

>1 y

SFC Thomas Foreman I see the logic. The big problem I see is them using inside information to dump stock before it drops off. Making them sell it before taking their Seat is unfair, making them hold it (even if it is tanking) until they are out of office is unfair, and letting them actively trade it while in office lends itself to corruption. None of the solutions are good, moving it to blind trust / out of control of Congress critter seems like the LEAST BAD option.

(2)

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Suspended Profile

>1 y

SFC Casey O'Mally and even that is pretty open to abuse but you’re right it’s the least crap option