Posted on 09/01/2018 10:23:32 AM PDT by Twotone
Senator Elizabeth Warren proposes a ban on stock ownership by members of Congress.
They can put their savings in conflict-free investments like mutual funds, she explained last week, or they can pick a different line of work.
Given that a greater number of Americans own stocks than homes, the proposal seems like a difficult one to implement. The fact that lawmakers generally hail from the stock-owning class, a group about as large as the middle class, complicates the matter further.
I dont think the solution is an outright ban, Secret Empires author Peter Schweizer, journalisms foremost scourge of political corruption, tells The American Spectator. We want politicians vested into the free market economy. The key is preventing them from using inside information for their stock investments. So, requiring a blind trust, or limiting their investments to index funds, would be a great solution more to the point, a lifetime ban on lobbying after they leave office.
Warrens idea here does not seem dramatically different from what Schweizer advocates. In the last decade, Schweizer, a sort of better-natured Ida Tarbell, has done more than anyone else to spotlight the shady practices of crony capitalism. Politics, which makes strange bedfellows, brings together the Clinton Cash author who helped derail the last Democratic presidential nominee with the woman who hopes to become the next presidential nominee.
(Excerpt) Read more at spectator.org ...
If Warren were smart and had control of her mouth, she would stick to screwing over the money center banks.
I dont know if that would take her all the way, but it would broaden her support considerably in the coming realignment.
I hear attacking Trump works.
LOL
The logic of this doesnt matter since this is coming from Elizabeth Warren. Any good or even bad idea is made far worse as the legislative process plays out.
Liz warren would do the world of good by bashing her head with her tomahawk. A lot. And with force.
Perhaps she could ask for help doing it.
New members? What about hags like Pelosi? With all of the insider trading that goes on, they will never go along with that.
Proposing what Congress should do is a nice trick. I propose they all shit golden eggs. Wishing it wont make it so.
Depends on the fund, but yes, mostly stocks.
I certainly don't want everyone selling stocks I own, it would crash the price.
Ban on stock ownership by members of Congress.
When hell freezes over they will never give up the gravy train with all the insider trading they do how do you think they obtained their millions.
Has Warren sold any of her stock that her $8 million is invested in?
IMHO there would be something to be said for requiring Congressmen to invest in fixed-rate, long-term bonds.That way if they create huge budget-busting deficits that lead to inflation, interest rates shoot up and their bonds drop in value.
I think the point would be to not be able to use insider info to make a killing on specific stocks...lots of rich reps who would not be so if they weren’t playing fast and loose...
Corrupt 'elites' in DC went out of their way to change laws so THEY COULD USE INSIDER INFORMATION... THEY EXEMPTED THEMSELVES FROM THE LAWS THE REST OF US MUST FOLLOW.
More 'legal criminal' stuff for the benefit of themselves..
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