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Thread: Congress votes to eliminate key requirement of insider trading law

  1. #41
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    Re: Congress votes to eliminate key requirement of insider trading law

    Quote Originally Posted by Lachean View Post
    IMO no one is above the law, nor should an elected leader see their position as an opportunity to aggrandize themselves.

    I'm also opposed to their being able to park anywhere in DC without being ticketed/towed. We're Americans, we abhor the notion of royalty or special classes.



    How do you feel about regular citizens insider trading? I mean its their money...
    When I was a staffer I did not get to park anywhere I want to in DC and regular citizens do not have their finances broadcast all over the internet for people to nose into it so neither should staffers, many of whom do not live or work in DC to begin with.

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    Re: Congress votes to eliminate key requirement of insider trading law

    Quote Originally Posted by Fisher View Post
    When I was a staffer
    Congressmen have that privilege, not their staffers nor did I suggest that.

    Quote Originally Posted by Fisher View Post
    I did not get to park anywhere I want to in DC and regular citizens do not have their finances broadcast all over the internet for people to nose into it so neither should staffers, many of whom do not live or work in DC to begin with.
    Aww poor them, If I could make a killing insider trading and it was legal, I care not who looks at my finances.
    Haymarket's "support" of the 2nd Amendment, a right he believes we never had.
    Quote Originally Posted by haymarket View Post
    no. You cannot lose rights you do not have in the first place. There is no such thing as the right to have any weapon of your choice regardless of any other consideration. It simply does not exist.

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    Re: Congress votes to eliminate key requirement of insider trading law

    Quote Originally Posted by Lachean View Post
    Aww poor them, If I could make a killing insider trading and it was legal, I care not who looks at my finances.
    Trying to make libertarians look bad with your presumptions?

    My understanding is that the new law only makes them not have to post their transactions online. Has to do with others obtaining personal information for unscrupulous reasons.

    Here is the bill:

    S.716

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    Re: Congress votes to eliminate key requirement of insider trading law

    We have representatives who answer to the voters. We have oversight committees who are either civilians or representatives of the people. I see no need for me to have intimate knowledge of someone elses private financial transactions so long as someone trustworthy is supervising them. This could all be solved by simply stopping electing the same idiots over and over again.

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    Re: Congress votes to eliminate key requirement of insider trading law

    Quote Originally Posted by Lord of Planar View Post
    Trying to make libertarians look bad with your presumptions?

    My understanding is that the new law only makes them not have to post their transactions online. Has to do with others obtaining personal information for unscrupulous reasons.

    Here is the bill:

    S.716
    Thats the bill as it stands now, it was gutted.
    Haymarket's "support" of the 2nd Amendment, a right he believes we never had.
    Quote Originally Posted by haymarket View Post
    no. You cannot lose rights you do not have in the first place. There is no such thing as the right to have any weapon of your choice regardless of any other consideration. It simply does not exist.

  6. #46
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    Re: Congress votes to eliminate key requirement of insider trading law

    Quote Originally Posted by Redress View Post
    Most congressional staffers are not becoming lobbyists, and certainly not the high paid kind. Congressmen do become lobbyists at times after they retire, but they are still required to post their investments online.
    What information, that the staffers and family members would have posted online, is at greater risk of abuse than the the information that the congressmen post?

  7. #47
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    Re: Congress votes to eliminate key requirement of insider trading law

    Quote Originally Posted by Cardinal View Post
    What information, that the staffers and family members would have posted online, is at greater risk of abuse than the the information that the congressmen post?
    Wrong question. The better question is what is the difference between a congressman and a staffer. I think the answer should be obvious.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

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    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Congress votes to eliminate key requirement of insider trading law

    Quote Originally Posted by Redress View Post
    Wrong question. The better question is what is the difference between a congressman and a staffer. I think the answer should be obvious.
    No, I think I'd like my question answered, thankyouverymuch.

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    Re: Congress votes to eliminate key requirement of insider trading law

    Quote Originally Posted by Cardinal View Post
    No, I think I'd like my question answered, thankyouverymuch.
    The problem with your question is that the reason for the differing standards is not the level of security risk. It is the difference between congressmen and staffers. Congressmen, being at the top of the food chain, are asked to assume more risk. This is true despite your claims otherwise earlier in the thread.

    By the way, are you aware that the more you treat people like **** who work for the government, the less likely you are to get good people to actually work in government?
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Congress votes to eliminate key requirement of insider trading law

    Quote Originally Posted by Redress View Post
    The problem with your question is that the reason for the differing standards is not the level of security risk. It is the difference between congressmen and staffers. Congressmen, being at the top of the food chain, are asked to assume more risk. This is true despite your claims otherwise earlier in the thread.
    The level of security risk was one of the main premises for eliminating the key requirement. As Pbrauer already posted, "The reasoning for this change was to prevent cyber criminals from gaining access to the financial data and using it against affected persons." So if staffers and family members are made vulnerable by the requirement, why aren't the congressmen?

    Quote Originally Posted by Redress View Post
    By the way, are you aware that the more you treat people like **** who work for the government, the less likely you are to get good people to actually work in government?
    Demanding greater transparency of our elected representatives and those who could profit from their connections to them is treating them like ****?

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