Congressional Stock trading

#27
#27
SpaceCoastVol said:
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?
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A big bucks politician/investor should have the same right as anybody else to bet on the direction of the US economy. Anybody using inside information to make illegal trades should be punished.

A farmer/politician might support legislation to buy soybeans and ship them to help alleviate a famine stricken region.

They important thing for trader/politicians is when information is available to the public and when are trades being made. Trades of public investments are memorialized in broker records so enforcement of trading with insider information should be a fairly easy crime to prove.

Just enforce the existing laws. Punish the law breakers to the max. If necessary, create more laws that make punishments harsher for public servants.
 
#28
#28
Vol737 said:
And that's okay, too.
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I'm more in the camp that elected officials and bureaucrats/regulators need to be forced into more transparency and scrutinized than the average citizen. They and their immediate family should be required to report all trades and the SEC should scrutinize everyone of them. They should be held to the same insider trading rules normal people are.
 
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#29
#29
Vol737 said:
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?
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Just how blind are blind trusts? Isn’t it just as likely that politicians could just feed information to the brokers/money managers that are making decisions for the trust?
 
#30
#30
Take investors out of office and letting non-investors make things like tax policy on investments isn’t a good approach. We don’t need the AOCs and Bernies setting every rule.
 
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#31
#31
Thunder Good-Oil said:
A big bucks politician/investor should have the same right as anybody else to bet on the direction of the US economy. Anybody using inside information to make illegal trades should be punished.

A farmer/politician might support legislation to buy soybeans and ship them to help alleviate a famine stricken region.

They important thing for trader/politicians is when information is available to the public and when are trades being made. Trades of public investments are memorialized in broker records so enforcement of trading with insider information should be a fairly easy crime to prove.

Just enforce the existing laws. Punish the law breakers to the max. If necessary, create more laws that make punishments harsher for public servants.
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Not if they are making policy that shapes that direction.

Their trades should be disclosed IN ADVANCE of being made. That really isn't going to cost them anything unless they actually were cashing in on insider knowledge.

All of this is an exercise in mental masturbation anyway as none of those assholes in DC will either enact anything that would potentially prevent them from cashing in , nor would they enforce the laws already on the books that would prevent it.
 
#33
#33
Thunder Good-Oil said:
Take investors out of office and letting non-investors make things like tax policy on investments isn’t a good approach. We don’t need the AOCs and Bernies setting every rule.
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I don't advocate taking them out. I want them to be upfront about what they are doing.

Just saw that Nancy P's net worth is up over $100M from $70M in 2022. Damn she's so smart.
 
#35
#35
SpaceCoastVol said:
I don't advocate taking them out. I want them to be upfront about what they are doing.

Just saw that Nancy P's net worth is up over $100M from $70M in 2022. Damn she's so smart.
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They already gave to make disclosures about their finances.

It would be easy to prove any trading based on insider information since their trades are recorded and their votes are a matter of record. Just enforce existed laws EQUALLY and there shouldn’t be an issue.

Spouse’s activity is disclosed in congressional filings. What about boyfriends, girlfriends, cousins, business associates, etc. Just make it clear that they will serve time if they break insider trading laws.
 
#38
#38
McDad said:
Do you have a problem with them using 'insider knowledge"?
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I’m on the fence honestly about the concept of insider trading in general. I think insider trades should be public knowledge for sure and I have less of a problem with buying stock than I do with short selling.

If insiders are betting their company will do well, I respect that. If they’re betting against their own company, now I have a problem
 
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#39
#39
SpaceCoastVol said:
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.
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To be clear though, this is public knowledge and nothing prohibits you from following him, right?
 
#40
#40
Jamie Raskin has some nerve calling out Justice Thomas. What a pos.
 
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