Then Nancy explains to AOC: "We aren't just stealing the tip jar here in Congress. We're stealing the entire cash register!"
Posted on 12/19/2021 4:48:59 AM PST by Erik Latranyi
Democratic Rep. Alexandria Ocasio-Cortez pushed back against House Speaker Nancy Pelosi's rejection of a ban on members of Congress from trading and holding individual stock while in office.
In a series of tweets on Friday evening, Ocasio-Cortez reiterated her prior opposition to members trading individual stock while in office, writing that the practice is inappropriate when members "write major policy and have access to sensitive information."
(Excerpt) Read more at msn.com ...
“pharmaceutical”
This is the area where insider information is most likely to matter.
AOC wants that to continue as she hasn’t received her fair share of it yet.
“She’s playing her socialist commie card to her base.”
Agreed. It’s much like Graham pretending to be conservative. It plays well, and nothing will come of it.
Or they may just show her out in the primaries.
“sweetheart deals with Netflix or publishing companies”
Very sweet indeed, as the Obamas know well.
Serving and retired political figures should be required to the proceeds into a trust with a withdrawal rate limited to the salary amount of a congressman annually, with the trust balance going into the Treasury upon their death (or that of a surviving spouse).
Copyrights are supposed to be limited to the author’s lifetime (but probably should have been for a straight 28 years).
Nancy Pelosi’s only worth a hundred million dollars.
She knows people kiss butt of the wealthy - which equals power. So there’s no way she’s going to give up her advantage.
Blind squirrel meet acorn.
What is interesting, though, is that this has opened the discussion!
There is a far bigger problem than Congresscritters getting rich unfairly.
The stock market has become so big that Congress feels obliged to run massive deficits [~$6 trillion for 2020 & 2021] to avoid a stock market crash.
To recover the federal funds used to prop up the stock market, I suggest a secondary financial instrument capital gains tax with a rate equal to the deficits since 2019 divided by the capitalizations of the NYSE and Nasdaq as of January 1 of the tax year.
For 2022, the secondary financial instrument capital gains tax rate would be about 12% based on $6 trillion of accumulated deficits and $50 trillion in stock market valuation.
To make calculation easier, stock on companies worth less than say $1 billion might be excluded from the stock market valuation divisor.
This is all a smokescreen. Spouses and family can still trade stock. Paul Pelosi does it all the time based on Nancy’s inside information.
Sadly, corporate and GOP establishment types tend to be accommodating of Democratic grifters because they are usually willing to make a deal. This attitude also frequently leads to an all too common disregard of ethics issues by the GOP and of the larger political need to find common cause with working people and minorities based on issues.
“The Securities and Exchange Commission’s (SEC) Form 13F is a quarterly report that is required to be filed by all institutional investment managers with at least $100 million in assets under management. It discloses their equity holdings and can provide insights into what the smart money is doing in the market. However, studies have found that 13F filings also have serious flaws and can’t be taken at face value.”
https://www.investopedia.com/terms/f/form-13f.asp
The latest 13F-HR for CalPERS:
https://stockzoa.com/fund/calpers/#:~:text=Top%205%20stock%20holdings%20are,Employees%20Retirement%20System‘s%20stock%20portfolio.
Even a broken clock is right twice a day.
+1
Odd that AOC is bucking Pelosi on this issue .... Until you realize that AOC does NOT have Pelosi’s “access” and power inside Washington!
See, “IF” AOC had the power and influence that she thinks she has - and that Pelosi-Boxer-Feinstein-Schumer-etc-etc-etc-etc-etc actually do have - then AOC WOULD BE all for allowing Congress and Congressional staff and Congressional family members to purchase and control stocks and futures markets and the nation’s economy!
Then Nancy explains to AOC: "We aren't just stealing the tip jar here in Congress. We're stealing the entire cash register!"
Even a blind sow finds an acorn once in awhile.
Blind Sqirrel, Broken Clock,etc
I assumed it was illegal, except when done “blindly” by a third party, such as a broker, without communication.
“I agree with AOC on this one!”
Same here - talk about a conflict of interests! That’s the ultimate insider trading.
Is there bacon in the treetops, because AOC sounds sane here.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.