Posted on 12/10/2022 11:39:29 PM PST by blueplum
That’s why I spell it Congre$$.
You can’t prohibit family members from trading stocks. They didn’t tell their cousin to run for Congress. And nothing on this earth can prevent the congress critter from passing on hot tips. Any teeth you put in it will get knocked out by the courts. 5th Amendment due process clause and all.
Here are the culprits:
Sen. Dianne Feinstein, a Democrat from California
Sen. Tommy Tuberville, a Republican from Alabama
Sen. Roger Marshall, a Republican from Kansas
Sen. John Hickenlooper, a Democrat from Colorado
Sen. Rand Paul, a Republican from Kentucky
Sen. Sheldon Whitehouse, a Democrat from Rhode Island
Sen. Rick Scott, a Republican from Florida
Sen. Tom Carper, a Democrat from Delaware
Sen. Bill Hagerty, a Republican from Tennessee
Sen. Cynthia Lummis, a Republican from Wyoming
Sen. Gary Peters, a Democrat from Michigan
Sen. Dan Sullivan, a Republican from Alaska
Sen. Mark Kelly, a Democrat from Arizona
Rep. Tom Malinowski, a Democrat from New Jersey
Rep. Pat Fallon, a Republican from Texas
Rep. Diana Harshbarger, a Republican from Tennessee
Rep. Susie Lee, a Democrat of Nevada
Rep. Madison Cawthorn, a Republican from North Carolina.
Rep. Katherine Clark, a Democrat from Massachusetts
Rep. Blake Moore, a Republican from Utah
Rep. Jamie Raskin, a Democrat from Maryland
Rep. Mo Brooks, a Republican from Alabama
Rep. Lauren Boebert, a Republican from Colorado
Rep. Dan Crenshaw, a Republican from Texas.
Rep. Debbie Wasserman Schultz, a Democrat from Florida
Rep. Alan Lowenthal, a Democrat from California
Rep. Brian Mast, a Republican from Florida
Rep. Kathy Manning, a Democrat from North Carolina
Rep. Mikie Sherrill, a Democrat from New Jersey
Rep. Kevin Hern, a Republican from Oklahoma
Rep. Brad Schneider, a Democrat from Illinois
Rep. Teresa Leger Fernandez, a Democrat from New Mexico
Rep. Michael Guest, a Republican from Mississippi
Rep. Sean Patrick Maloney, a Democrat from New York
Rep. Lori Trahan, a Democrat from Massachusetts
Rep. Mary Gay Scanlon, a Democrat from Pennsylvania
Rep. John Rutherford, a Republican from Florida
Rep. Josh Gottheimer, a Democrat from New Jersey
Rep. Mark Green, a Republican from Tennessee
Rep. David Trone, a Democrat from Maryland
Rep. Carol Miller, a Republican from West Virginia
Rep. Pete Sessions, a Republican from Texas
Rep. Tom Suozzi, a Democrat from New York
Rep. Dan Meuser, a Republican from Pennsylvania
Rep. Maria Elvira Salazar, a Republican from Florida
Rep. Vicente Gonzalez, a Democrat from Texas
Rep. Kathy Castor, a Democrat of Florida
Rep. Bill Pascrell, a Democrat of New Jersey
Rep. August Pfluger, a Republican from Texas
Rep. Brian Higgins, a Democrat from New York
Rep. Cheri Bustos, a Democrat from Illinois
Rep. Steve Chabot, a Republican from Ohio
Rep. Victoria Spartz, a Republican from Indiana
Rep. Rick Allen, a Republican from Georgia
Rep. Kim Schrier, a Democrat from Washington
Rep. Kurt Schrader, a Democrat from Oregon
Rep. Mike Kelly, a Republican from Pennsylvania
Rep. Chris Jacobs, a Republican from New York
Rep. Bill Keating, a Democrat from Massachusetts
Rep. Bobby Scott, a Democrat from Virginia
Rep. Austin Scott, a Republican from Georgia
Rep. Ed Perlmutter, a Democrat from Colorado
Rep Dwight Evans, a Democrat from Pennsylvania
Rep. Lloyd Doggett, a Democrat from Texas
Rep. Warren Davidson, a Republican from Ohio
Rep. Lance Gooden, a Republican from Texas
Rep. Chuck Fleischmann, a Republican from Tennessee
Rep. Michael Burgess, a Republican from Texas
Rep. Cindy Axne, a Democrat from Iowa
Del. Michael San Nicolas, a Democrat from Guam
Rep. Peter Welch, a Democrat from Vermont
Rep. Jim Banks, a Republican from Indiana
Rep. Mike Garcia, a Republican from California
Rep. Rob Wittman, a Republican from Virginia.
Rep. Jim Hagedorn, a Republican from Minnesota.
Rep. Roger Williams, a Republican from Texas
Well, the bastards on Capitol Hill makes so little money they need to moonlight to make money to feed their families. SARC/
In effect you could. Simply enact chamber rules that instead of giving members a pass on insider trading enforce tough rules, such as many other professional organizations have (e.g., the CFA institute) that extend to beneficial trades for family members. For example, strip committee assignments from those who violate them. And then enforce such tip passing or trading rules to the full extent of the law for everyone else.
Prove they passed a tip. There are plenty of ways through technical and fundamental analysis to construct a predicate for shorting or buying up a stock that is also being discussed in the halls of Congress.
I think insider trading is inevitable, both by people involved with the company, and people in government. You’re asking people to deliberately disregard information that is beneficial to them. So long as they are not trading in volumes so large that it changes the stock’s normal trajectory, to the detriment of others, I’d say all power to them. Martha Stewart was unjustly imprisoned.
As a consequence of the corrupt, constitutionally undefined political parties dividing both Houses of Congress, neither House can find the two thirds supermajority votes needed to expel law-breaking lawmakers.
"Article I, Section 5, Clause 2: Each House may determine the Rules of its Proceedings, punish its Members for disorderly Behaviour, and, with the Concurrence of two thirds, expel a Member [emphasis added]."
In fact, consider that political party divisions have also effectively nullified Senate power to remove House-impeached presidents, desperate Senate Democrats and RINOs failing to remove twice-mock-impeached Trump from office.
If all they have to do is REPORT trades based upon their insider info this is institutionalized corruption. It is like giving a pass to pedo — so long as you admit it and say you are sorry.
No. Such trading by gov’mt workers and their immediate families must be forbidden. Totally.
The laws, which lead to trials and convictions, are enforced (albeit imperfectly) for the “regular” people — and so should apply to our congress critters as well.
And capital markets too corrupt as they are, without repealing insider trading laws. Jeesh!
I’m for repealing it entirely, except when there’s market manipulation. It’s definitely a better way to capitalize on one’s office than traveling with your brother or son, and having them start “businesses” in countries you’re visiting. The former is just exploiting information you’re privy to. The latter is bribery, a high crime and misdemeanor.
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