I think we have all seen why this needs to happen. Long overdue.
Obvious insider trading. It must STOP!!
4 Likes
Won’t do any good. It’s the information. They’ll simply pass it on to family, friends, or trade in an LLC or something. What we need is trustfull politicians. Good luck to us!
Instead of the pension they now get, have them all participate in a 401K type of thing tied to the general economic health of the average American
3 Likes
Insider trading is already illegal. The problem is the DOJ doesn’t prosecute
5 Likes
I completely disagree, I think it should be made more public and legal but with an easy copy trade system for everyone to see so everyday people can follow and make money too. These people are going to do insider trading anyway whether through friends or family and is very hard to monitor that so its best to bring it into the light and allow them to do it, but make it so normal people can copy it too. This might actually mean politicians can help everyday people earn extra money with their insider knowledge.
For example make all politicians only be able to trade on 1 or 2 platforms like robinhood and make their profiles/ portfolios public so people can easily set an automatic copy trade when ever their favourite politician trades. If this is made legal everyone can benefit from it and it also may encourage people to learn more about finance and investing.
2 Likes
Exactly!
Making public notification a day prior to a trade would solve the problem in my opinion.
And all family as well!
1 Like
The 4th amendment requires a warrant for searches. Having a family member in politics should not cause a citizen to lose their 4th amendment rights. The politician themselves may accept an audit as a requirement of accepting their office, but they cannot cancel the rights of relatives.
Also, insider trading is already illegal, though it is difficult to prove.
Agreed!
Additionally, it should be clear law that a politician must recuse themselves from any vote that may involves or may result in a contract award to a company where they own stocks.
3 Likes
It is tough to prove, since many committee members hold closed-door meetings. Once trading is prevented and recusal is required if they own stocks, it should basically go away.
And their immediate relatives
1 Like
As stated, I wouldn’t support this as a law because it’s overly restrictive and insider trading is already illegal. Ask Martha Stewart!
If it was restated to eliminate the current exemption that Congress made for elected officials and their families, that would be much better. Remember, Nancy Pelosi (as just one example) hasn’t made any money on stock trading; she’s just a poor ol’ public servant. But her husband has accumulated a net worth exceeding $100 million somehow. It’s safe to conclude he’s an inside trader who uses info Nancy shares with him. Get rid of the legislative exemption and add sharing insider info to the criminal statue, and I’d support!
3 Likes
I agree for DURING their terms. If they already have a particular fund in their portfolio, they can keep, but not add to it. Once elected, they must file paperwork for any trade and maybe have a committee approve to ensure no conflicts of interest?
4 Likes
Hand in hand with my policy idea, and the legislature will be cleansed.
3 Likes
And when they leave office all security clearances need revoking and they have to refrain from having friends in the government give them advice on whats coming down as well. Called friends still in government for kickbacks. I really have no idea how this can be policed or enforced while someone is in office. There has to be an enforcement piece. Lose seat immediately. Can never run for office again. The person also cannot have a say so in who takes their seat. Again, called kickbacks.
1 Like
Stock Trading for politicians should be banned permanently!!!
If sports players, coaches or owners are banned for gambling, politicians should be banned for stock trading.
1 Like
Only fair to ban 
While in office yes. Also need a better sheriff in the Houses for discouraging tips and leaks to friends and family. I believe its rampant and a major perk for being in the “right club”.