View Poll Results: Should elected officials be allowed to trade stock when they have inside information?

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  • Yes

    1 2.78%
  • no

    35 97.22%
  • maybe

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Thread: Should elected officials be allowed to trade stock when they have inside information?

  1. #11
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    Re: Should elected officials be allowed to trade stock when they have inside informat

    It's simple. The law that we need to pass is the one that states that any law Congress passes applies to Congress the same as everyone else.

  2. #12
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    The Mark's Avatar
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    Re: Should elected officials be allowed to trade stock when they have inside informat

    Quote Originally Posted by megaprogman View Post
    I think what should be done is that if a politician is elected, all of their assets should be liquidated, kept in an account and go up or down, depending on metrics, such as median or average wage, GDP, # of laws overturned by the supreme court for unconstitutionality, or whatever metric we can come up with. If they do good, they make a profit, if not, then they do not.
    How about they invest that money in the government, and if the government makes a profit, their stock goes up...that could work for a metric...
    Education.

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    Re: Should elected officials be allowed to trade stock when they have inside informat

    Quote Originally Posted by The Mark View Post
    How about they invest that money in the government, and if the government makes a profit, their stock goes up...that could work for a metric...
    Why would you want government to make a profit?

    At best, it should break even.

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    Re: Should elected officials be allowed to trade stock when they have inside informat

    Quote Originally Posted by megaprogman View Post
    Why would you want government to make a profit?

    At best, it should break even.
    True, true...


    I'm just thinking that many if not all of those metrics could be manipulated.

    Not to mention there's the entire aspect of the various forces that they can't control, yet they tell the voters they will try anyway.

    Or something...
    Education.

    Sometimes I think we're alone. Sometimes I think we're not. In either case, the thought is staggering. ~ R. Buckminster Fuller

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    Re: Should elected officials be allowed to trade stock when they have inside informat

    Nope. I was mad as hell when I read about this earlier today. They should be impeached, then prosecuted.

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    Re: Should elected officials be allowed to trade stock when they have inside informat

    Quote Originally Posted by DiAnna View Post
    Nope. I was mad as hell when I read about this earlier today. They should be impeached, then prosecuted.
    My understanding is, they've been doing this for, like, the entire history of the country.

    Or at least decades.

    Sure, I think it shouldn't be accepted - but I have no real expectation that it will cease any time soon.
    Education.

    Sometimes I think we're alone. Sometimes I think we're not. In either case, the thought is staggering. ~ R. Buckminster Fuller

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    Re: Should elected officials be allowed to trade stock when they have inside informat

    Should the fox be given the key to the hen house?

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    Re: Should elected officials be allowed to trade stock when they have inside informat

    I checked the votes. Come out Vyktor. Don't be so tiggerdly with your opinion.
    Quote Originally Posted by Northern Light View Post
    The systems that ensure freedom and liberty are breaking down and fundamentalism is growing. Nobody is righteous anymore.


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    Re: Should elected officials be allowed to trade stock when they have inside informat

    It made me mad when I heard that story. I think it was Brian Baird (from WA, state) who tried to pass leg. to make it illegal. Kudos for him, at least he tried.
    "The measure off intelligence is the ability to change." Albert Einstein

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    Re: Should elected officials be allowed to trade stock when they have inside informat

    Not just no, but HELL NO!!

    It's no different that an individual who wishes to purchase stock (Martha Stewart) getting information no one else knows from his/her stock broker in advance of the markets open and using it to his/her advantage for financial gain. Congressmen/women have another insider advantage in that they work with lobbyist who help them write the very laws that give them a significant advantage over anybody else, including many business leaders, because they know when a change in a particular industry is forthcoming. As such, they can move their money towards or away from said industry long before anyone else knows what's happening. This is another reason why lobbying should be frowned upon.

    I don't know if there is a law prohibiting members of Congress from benefiting from insider trading since under the Constitution members of Congress can't be arrested while on the job while Congress is in session or during their daily commute to and from Congress. But I do know that any of us normal folk do what Martha Steward did they'd throw us in jail without hesitation! The same should apply to members of Congress where insider trading is concerned.

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