Congressional Stock trading

#4
#4
SpaceCoastVol said:
Should members of the .gov be banned from trading? Should that also be expanded to their immediate families?
Click to expand...
I just wish members of the .gov would be held to the same standards as civilians and others who engage in insider trading. Wouldn't need banning if they would enforce current law.
 
  • Like
Reactions: ButchPlz, marcusluvsvols, SlipKidVol and 5 others
#6
#6
blind trust option.

found this interesting - including the app that allows you to trade in concert with how Congress trades.

abcnews.go.com

Citizen watchdogs eye Congress' 'killing it' approach to stock trading

A senator could vote for an infrastructure bill, then buy stock in concrete. Or they could sit on the Armed Services Committee and trade in defense contractors stock.
abcnews.go.com abcnews.go.com

"Annual reviews of the trades of 535 members of the House and Senate, compiled by the Unusual Whales account, have found lawmakers' stock portfolios consistently beat the S&P 500."
 
  • Like
Reactions: marcusluvsvols, McDad and davethevol
#8
#8
McDad said:
National park rangers, service men and women, and the White House Tour guides.
Click to expand...

The reason I ask is judges should be included as well.

Reps, Senators, Federal Judges, the President, VP and Cabinet as well as staffers directly involved with them all should not be able to directly trade in the market.
 
  • Like
Reactions: McDad
#11
#11
Grand Vol said:
The reason I ask is judges should be included as well.

Reps, Senators, Federal Judges, the President, VP and Cabinet as well as staffers directly involved with them all should not be able to directly trade in the market.
Click to expand...
staffers, secretaries, etc of those people should also be under stringent oversight.
 
  • Like
Reactions: SpaceCoastVol
#15
#15
Grand Vol said:
Define members of the government.
Click to expand...
I would say anyone that establishes/enforces policy. House/Senate/WH/SCOTUS... Anyone in the Big 3 branches, and I would even extend that to anyone working in their offices as well. And definitely their immediate families.
 
#16
#16
Vol8188 said:
I have no problem with them trading
Click to expand...
There is a website. Capitoltrading.com. Ro Khanna has made over 14,000 trades. in the last 3 years. Over 4500 in the last year. Drunk Nancy made only about 65, but how many did her husband make based on pillow talk?

Paul Pelosi purchased 50 call options for December of 2024. She disclosed that he spent between 1 and 5 million dollars to do that. Today's at the money $470 calls are selling for around $91. So, in order to hit the low end (1 million) worth of call option purchase, one would have to buy the December 2024 $300 strike (that is today, not last November) In Nov, NVDA was trading around $400 which means he has had a nice runup in spite of the last two days. So I want to now what he knew. Or do the Pelosi's have so much money that laying a $1-5 million wager on a $400 stock is chump change?

Edit: I was just looking at it again, and it shows the strike price at $120. The premium on $120 strikes today is about $360/share. So based on that and 50 contracts, he spent somewhere around $1.8 million.
 
Last edited:
#17
#17
What about the converse? Should professional traders, investors, and hedge fund managers be barred from political office?

Just enforce laws against actually trading with insider information. Give lawmakers that trade from non-public information harsh prison sentences and fines. AND… punish those that attempt to use the judicial system for political attacks.
 
  • Like
Reactions: hog88
#18
#18
Any elected person in congress, POTUS, SCOTUS judges or those employed in any federal bureaucracies (FBI, CIA, NSA, ATF, DHS, HUD, etc.) that will put them in line to receive full tax payer funded pensions should only be allowed to invest in Mutual Funds, ETF's or fixed income assets. Once separated from their position and no longer in the "public service" world, there should be a five year wait period before being able to invest in individual equities.
 
  • Like
Reactions: SpaceCoastVol
#19
#19
Thunder Good-Oil said:
What about the converse? Should professional traders, investors, and hedge fund managers be barred from political office?

Just enforce laws against actually trading with insider information. Give lawmakers that trade from non-public information harsh prison sentences and fines. AND… punish those that attempt to use the judicial system for political attacks.
Click to expand...
How do we get those that are obviously above the law to enforce those laws? It's the same theory that we can change representation at the ballot box, but we know that in practice this isn't the case. Barring a pro trader is an interesting thought, but as hog said, maybe there should be another level of scrutiny for them. Perhaps require them to disclose any trade they (or a significant other) intends to make a day before they actually make it.
 
#20
#20
Just about everyone that goes to Washington somehow manages to get wealthy off their public servant wages. Everybody sees it and knows what’s going on. There’s a reason why they all protect one another from outsiders. Politicians live by a different set of rules.

The root of the problem is that most people just don’t care.
 
  • Like
Reactions: StarRaider, 825VOL, hog88 and 2 others
#22
#22
Vol737 said:
Any elected person in congress, POTUS, SCOTUS judges or those employed in any federal bureaucracies (FBI, CIA, NSA, ATF, DHS, HUD, etc.) that will put them in line to receive full tax payer funded pensions should only be allowed to invest in Mutual Funds, ETF's or fixed income assets. Once separated from their position and no longer in the "public service" world, there should be a five year wait period before being able to invest in individual equities.
Click to expand...

I do not agree with this.
 
  • Like
Reactions: Vol737
#23
#23
Vol737 said:
Any elected person in congress, POTUS, SCOTUS judges or those employed in any federal bureaucracies (FBI, CIA, NSA, ATF, DHS, HUD, etc.) that will put them in line to receive full tax payer funded pensions should only be allowed to invest in Mutual Funds, ETF's or fixed income assets. Once separated from their position and no longer in the "public service" world, there should be a five year wait period before being able to invest in individual equities.
Click to expand...

What about owning non-publicly traded equities? Farmers don’t have to sell their farms to serve. Lawyers don’t have to close their offices if they’re elected.
 
  • Like
Reactions: Vol737 and hog88
#24
#24
Thunder Good-Oil said:
What about owning non-publicly traded equities? Farmers don’t have to sell their farms to serve. Lawyers don’t have to close their offices if they’re elected.
Click to expand...
Interesting, but can a farmer or businessman that owns a single business really inject enough policy to get uber wealthy thereon? I get what you are doing, and that is to establish the line. I think we could what if those kind of scenarios all night, but the pachyderm in the room is equities/options trading which insider information can be hidden and affected on a larger scale by things yet to be made public. How many people do you know that buy almost $2 million in deep in the money calls on a tech stock a year out?
 
#25
#25
Thunder Good-Oil said:
What about owning non-publicly traded equities? Farmers don’t have to sell their farms to serve. Lawyers don’t have to close their offices if they’re elected.
Click to expand...
Fair question, but getting in the weeds a bit here and outside my wheelhouse. The two examples you give I have no problem with, at first glance and assume many these are small businesses started with and maintained by their own private capital and earnings. I wouldn't expect them to have to sell their business. What I'm more interested in preventing is an unfair advantage of federal govt. employees and representatives that receive inside information from various sources in regards to the broader, public stock markets. Non-publicly traded companies would take more examination on my part because I don't know what I don't know, but off the cuff I would ask, wouldn't blind trusts serve as that firewall at least while they are in the public service?
 
  • Like
Reactions: SpaceCoastVol
New posts
You must log in or register to reply here.

VN Store



Back
Top