Congressional Members and Stock Trading

#26
#26
Velo Vol said:
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She’s a loud idiot painting with a very broad brush. A farmer can’t incorporate his business and own shares of stock in his own operation and also hold an elected office?

The question is should professional securities traders be banned from public office. That raises a different set of questions. What other professional should not be permitted from holding public office? How about starting with lawyers?
 
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#27
#27
Thunder Good-Oil said:
She’s a loud idiot painting with a very broad brush. A farmer can’t incorporate his business and own shares of stock in his own operation?

The question is should professional securities traders be banned from public office. That raises a different set of questions. What other professional should not be permitted from holding public office? How about starting with lawyers?
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Why lawyers?
 
#28
#28
The really gross part is they don't even need "insider info" to manipulate the stock. Someone like Pelosi is basically playing the game with cheats on. She could buy Facebook puts six months out, and when that gets disclosed guess what? FB will drop. Because it signals something bad is on the horizon for FB from a regulation standpoint. They sell on the dip, rinse and repeat. Maybe they buy calls next time. It doesn't matter, they can't lose. They should all be in blind trusts, but my guess would be that would correlate with a sharp decline in interest for getting into Congress.
 
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#30
#30
DancingOutlaw said:
The really gross part is they don't even need "insider info" to manipulate the stock. Someone like Pelosi is basically playing the game with cheats on. She could buy Facebook puts six months out, and when that gets disclosed guess what? FB will drop. Because it signals something bad is on the horizon for FB from a regulation standpoint. They sell on the dip, rinse and repeat. Maybe they buy calls next time. It doesn't matter, they can't lose. They should all be in blind trusts, but my guess would be that would correlate with a sharp decline in interest for getting into Congress.
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After what happened to Trump 24/7 I don’t know why any business leader would ever have a desire to run for office. It’s sad because those with a background of leading successful businesses might have the ideal skill set that’s needed to fix inefficient government programs.
 
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#32
#32
clarksvol00 said:
Like what?

Edit: don't most politicians pass self-serving legislation?
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That’s my point. Why should professional stock traders be singled out? Perhaps because most of the public is clueless as to how our capitalism works? Lawyers are ripping off the public far more but AOC isn’t grandstanding against them.
 
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#34
#34
Thunder Good-Oil said:
That’s my point. Why should professional stock traders be singled out? Perhaps because most of the public is clueless as to how our capitalism works? Lawyers are ripping off the public far more but AOC isn’t grandstanding against them.
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I was just curious why you went straight to lawyers. There aren't really that many holding office now compared to the past. I posted some numbers awhile back. How are lawyers ripping off the public?
 
#36
#36
clarksvol00 said:
I was just curious why you went straight to lawyers. There aren't really that many holding office now compared to the past. I posted some numbers awhile back. How are lawyers ripping off the public?
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Legalese in the laws is a problem. It's hard to argue the laws represent the people when someone with a public provided education cant understand the law.
 
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#37
#37
clarksvol00 said:
I was just curious why you went straight to lawyers. There aren't really that many holding office now compared to the past. I posted some numbers awhile back. How are lawyers ripping off the public?
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It’s easy to spot. Things like not passing tort reforms. Also everything that they do ends up costing the public far more. I blame lawyers for the reason that health care costs and insurance have reached ridiculous levels.

That **** isn’t just Dems or Republicans exclusively either. One that really bothers me, and isn’t directly on the legal element of lawmakers, is something that Barry Obama attempted to pass. Investment advisors charging their clients fees should be required to be fiduciaries. Most of their clientele has no clue what that even means. Wall Street employ lots of lawyers. Lobbyists might be overwhelmingly attorneys (and retired politicians).

My sister is a licensed attorney. She can’t stand the sleaze that runs through that industry.
 
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#38
#38
“ In the 113th Congress, for example, nearly a fifth of the 435 House members and 100 senators worked in education, either as teachers, professors, school counselors, administrators or coaches, according to the Roll Call and Congressional Research data.

There were twice as many lawyers and businessmen and businesswomen.”

Here's What Job Your Member of Congress Had Before Being Elected
 
#39
#39
Thunder Good-Oil said:
It’s easy to spot. Things like not passing tort reforms. Also everything that they do ends up costing the public far more. I blame lawyers for the reason that health care costs and insurance have reached ridiculous levels.

That **** isn’t just Dems or Republicans exclusively either. One that really bothers me, and isn’t directly on the legal element of lawmakers, is something that Barry Obama attempted to pass. Investment advisors charging their clients fees should be required to be fiduciaries. Most of their clientele has no clue what that even means. Wall Street employ lots of lawyers. Lobbyists might be overwhelmingly attorneys (and retired politicians).

My sister is a licensed attorney. She can’t stand the sleaze that runs through that industry.
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I remember when TN was all about med mal reform. It was gonna lower docs med mal insurance and the savings would be passed on to us. That was 15 years ago. My health insurance premiums never went down.
 
#40
#40
clarksvol00 said:
I remember when TN was all about med mal reform. It was gonna lower docs med mal insurance and the savings would be passed on to us. That was 15 years ago. My health insurance premiums never went down.
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I’m not a huge Trumpster, but I do believe that had he been re-elected he would have been able to get health care reform on track. When he lost Congress in 2018 there was no way the Dems were going to allow him to get a victory there… his re-election would have been automatic.
 
#41
#41
Thunder Good-Oil said:
I’m not a huge Trumpster, but I do believe that had he been re-elected he would have been able to get health care reform on track. When he lost Congress in 2018 there was no way the Dems were going to allow him to get a victory there… his re-election would have been automatic.
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Ehhh... I just think a lot of these "reforms" that blame lawyers for driving up costs are just an excuse for various lobbies like insurance companies to say, "were gonna cut our expenses and pass the savings on to you," when in reality they're lowering their exposure without the average consumer benefitting.
 
#42
#42
clarksvol00 said:
Ehhh... I just think a lot of these "reforms" that blame lawyers for driving up costs are just an excuse for various lobbies like insurance companies to say, "were gonna cut our expenses and pass the savings on to you," when in reality they're lowering their exposure without the average consumer benefitting.
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Insurance companies employ lots of lawyers as well as the lobbyists.
 
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#46
#46
clarksvol00 said:
Last year there were 145 House members who were lawyers and 47 senators. Probably more than any other profession, but not enough to block anything if the non-lawyers ganged up on them.
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You know that is not good Clark..Too many hucksters.
 
#47
#47
Orangeburst said:
You know that is not good Clark..Too many hucksters.
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That goes back to the premise though. I don’t agree that every lawyer, or even every politician, is a huckster.

Edit: I'd say that politicians as a group, no matter their occupations, have a higher percentage of hucksters than lawyers as a group.
 
#48
#48
clarksvol00 said:
That goes back to the premise though. I don’t agree that every lawyer, or even every politician, is a huckster.
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Lawyers by their very definition "manipulate", "deflect", "omit" "amplify", "look for loopholes", even lie by ommision etc....to win cases. It is what they do and by mere numbers do not reflect the proportion in Congress vs the population citizenry. These clowns wouldnt know you or me from a tree stump.

Feels Roman
 
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#49
#49
Orangeburst said:
Lawyers by their very definition "manipulate", "deflect", "omit" "amplify", "look for loopholes", even lie by ommision etc....to win cases. It is what they do and by mere numbers do not reflect the proportion in Congress vs the population citizenry. These clowns wouldnt know you or me from a tree stump.

Feels Roman
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A few thoughts...

I'm not sure that Congress needs to reflect the occupational makeup of the US citizenry.

The "look for loopholes" comment makes me think about all the times I've seen posters say its okay to use tax loopholes. Why is a loophole in tax law any different than a loophole in any other law? Does that make all the people who bragged about using loopholes to minimize their tax burden shady?

In some businesses, having a good lawyer and a good accountant can save you a lot of headaches.
 
#50
#50
clarksvol00 said:
A few thoughts...

I'm not sure that Congress needs to reflect the occupational makeup of the US citizenry.

The "look for loopholes" comment makes me think about all the times I've seen posters say its okay to use tax loopholes. Why is a loophole in tax law any different than a loophole in any other law? Does that make all the people who bragged about using loopholes to minimize their tax burden shady?

In some businesses, having a good lawyer and a good accountant can save you a lot of headaches.
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It is a rabbit hole in the system for sure, but I dont think we need rabbits to make law..Corny. Nice dig at Tump though..

Frankly, we are too big to be governed by 535 and should apply the 10th. That is live and let live, not this burden on the national populace.
 
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