Posted on 02/13/2022 11:59:49 AM PST by MarvinStinson
Walter Shaub
A congressional stock trading ban is likely to pass.
So some members are trying to push competing bills with a spousal loophole that they can drive a truck through.
Let’s be clear: a congressional stock trading ban is worthless if it doesn’t cover spouses.
(Excerpt) Read more at twitter.com ...
Senior Ethics Fellow @POGOwatchdog,
former Director @OfficeGovEthics.
Walter Shaub
Some in congress want to ban members and their spouses from trading stocks.
Others in congress want to ban only members (not spouses) from trading stocks, on Tuesday afternoons, when the weather dips below freezing, and the member is wearing a ski sweater, standing on one leg.
Will this become Congress’ “let them eat cake” moment in history ?
Walter Shaub
CONGRESSIONAL STOCK TRADE BAN UPDATE:
There are reporters, members of Congress and well-meaning watchdogs spreading incorrect info about blind trusts.
As the only person working for a watchdog group who has ever overseen the blind trust process, I will explain in a thread:
https://twitter.com/waltshaub/status/1492663382482337793
What about a brother or sister doing the deals, kind of like how the Biden’s do it?
Just like using a ‘foundation’ for bribes and calling them ‘contributions’ 🤪
We make money the old fasion way, we rely heavily on insider trading.
If you ban them from trading in stocks, they will trade in bonds, or real estate, or oil futures, etc.
They should rename this bill to “How Nancy Pelosi Got Rich” bill.
Go the other way around. Members shouldn’t be allowed to vote or advocate for votes on corporations in which they or family members own a substantial interest. Mandatory recusal. Failing to report this conflict of interest and voting or debating despite the non-disclosed conflict of interest, is grounds for impeachment.
It needs to include ALL family members PERIOD!!
Congressional pay and bonuses should be linked to the median after tax real wage growth.
The only bill that needs to be passed is the one they will never pass. I call it the “Crawling up Trumps ass”bill. The bill treats congressmen, senators and spouses like Donald Trump where you audit every damn thing he ever did or invested in like a proctologist for His life. Pelosi and her husband would be serving 50 yearsentences if that happened.
Good.
They’re stupid like a fox. Yeah, right. No stock trading if you’re in Congress. Like there aren’t already a thousand ways around that. My #10 is hardly rocket science, but they’ll never do it.
This will align the interests of the US and Congress. When we all do well, members of Congress do well, when the economy goes in the dumper, they get dumped too.
The reality is that either of those funds has been a GREAT investment for a century or longer. We will end up with more millionaires in Congress.
Seriously, the congress critters will always have a relative who heads a foundation, like the Clintons, or does business where the critter himself wouldn’t be allowed to, a la Hunter or Mr. Nanshy Peloshi. Groucho tells us graft is a living (Duck Soup). So on paper, they’ll be investing in indexes, whereas in reality, they’ll be doing insider real estate deals and tailoring bills to give them a tax break, or getting gifts of stock from lobbyists and foreign countries to their respective Hunters. Mandatory recusal and disclosure is the only way that might actually work, and disincentivize shenanigans like those of the Clinton, Biden and Peloshi crime families. So naturally they won’t even consider it.
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