Lawmakers should not be allowed to trade stocks
Say it louder for the people in the back
What about large index funds?
Only T-bonds.
That’s not really what people consider “stocks” but yes of a lot of economists and political theorists were able to debate the details of the policy people could decide and urge their reps to do the right thing. Worth a shot I guess.
What is your solution, that she resign or that she divorces her husband whom she married in college? Her husband’s primary income is from the investment firm he owns, so basically she cannot be a legislator while married to him if those are the rules.
Sounds perfectly reasonable to me.
I would sooner reform shared finances of married couples, at least that of congress, or better yet bar shareholders from running for office, than end Nancy’s marriage of 60 years over her supposed insider trading (which I’ve never even seen a decent argument about, if anything Paul’s trades are kind of shit given her position of power).
Her husband’s not a lawmaker. Once again: lawmakers should be banned from trading stocks.
Carter sold his family’s peanut farm.
Legislators, members of governments and their households should either be forbidden from doing insider trading, with regular detailed audits to ensure it, or should be forced to use blind trusts for investments.
I know Pelosi is one of the magats’ favorite talking points, but last time I saw Pelosi’s market gains posted, she wasn’t even in the top 10 of Congressfucks rigging their investments, and it wasn’t close to being a one party issue.
What the right doesn’t get is that the left wants this corruption to stop, even when the corruption is from the same side. The GOP only wants the other side to be held accountable
the left wants this corruption to stop, even when the corruption is from the same side
This is very confusing. The left absolutely does want it to stop but centrist Dems do not. The left is not on the same side as Pelosi.
I was talking about the voting base, and how dem voters are willing to criticize the dem electorate, while GOP voters (even leaving MAGA aside, bc they’re a lost cause to the cult) don’t hold their representatives accountable.
Dem voters are the Dem electorate. Did you mean Dem representatives?
And you’re still eliding the difference between the left and centre-right. Left and centre-left voters are willing to criticise Dem politicians. The centre is not. And, while hypocrisy absolutely is a characteristic of the right because they know how power works, it’s nonsense to suggest that the entirety of the Dem electoral coalition holds its representatives to account. It doesn’t, not least because a large proportion are in on the grift. And that’s why we’re having another global fascist spasm. Liberals refuse to challenge power, not least because they like its perks and also believe that those perks should exist.
Right, I meant elected instead of electorate.
I don’t think a large portion of the dem voter base benefits from the grift that the dem politicians are participating in. If they were rich and wanted to benefit, they’d just vote GOP. Don’t get me wrong, the rich who vote dem absolutely benefit from the corporate center of the party (which is most of it), but the wealthy class is a tiny proportion on both sides and I was talking about the majority.
And I think you’re giving too much credit to the GOP voters by saying they “know how power works”. The vast majority of them are useful idiots taken in by culture war nonsense continually voting against their self interest.
I didn’t say GOP voters know how power works.
And there is barely any difference in the proportion of rich people voting GOP or Dem. 1-2% in the 2020 exit polls. In 2016, Clinton had swings in her favour amongst the very rich, and larger swings against amongst lower income and POC voters. Not because they switched to the GOP but because she gave them no reason to turn out.
You’re projecting your ideal onto a party which relies on the very wealthy to fund their politics. And they can do that because it is how power works and why they do not want to challenge power.
Stop confusing the left with the centre. The necessity of the electoral coalition is precisely a result of power, and its ability to silence the left while pandering to the right.
“For every blue-collar Democrat we lose in western Pennsylvania, we will pick up two moderate Republicans in the suburbs in Philadelphia, and you can repeat that in Ohio and Illinois and Wisconsin.” – Chuck Schumer, 2016
You’re projecting your ideal onto a party which relies on the very wealthy to fund their politics.
I’m not talking about the rich, because while they wield outsized clout in what their parties do, they’re a tiny percentage of the population and consequently voters. All I’m saying is the vast majority of dem voters (they’re not wealthy and they don’t benefit from the grifting that the majority that the dem pols do) are willing to criticize dems. The opposite is not true–most GOP voters, who also don’t benefit from anything the GOP elected does, will never speak a word against the people in office.
Maybe the left like you and me do, on the ground, but I guarantee that lawmakers on both sides of the aisle are just fine with how things are right now.
Yeah I was thinking more about left voters instead of pols. Almost everyone in congress is fine with the corruption. But right wing voters hardly ever criticize their own, let alone the maga cultists
Right-wingers who are critical of Trump get plenty of airtime. Left-wingers who are critical of Dems, not so much.
It’s that part of the fascist playbook where the enemy is weak and dangerous at the same time.
So? You approve of the behavior? That sounds like “what aboutism”, ignoring the point. Unless you have a spare 500k to send to me showing how little you care because it’s insignificant.
Well considering she made the purchase a couple weeks before there was an announcement of a new chip plant in China. The game is rigged folks.
Well considering she made the purchase a couple weeks before there was an announcement of a new chip plant in China. The game is rigged folks.
I mean. Its absolutely nothing compared to the post ChatGPT runup.
If anything I could see that China news harming the stock evaluation. Bad publicity is real, and allying with China is risky in this market.
vote blue no matter who
Vote progressive in the primary.
deleted by creator
It’s obvious you’re being sarcastic, but actually yes, vote blue no matter what. This is literally the best thing you can do to fight blatant fascism with your vote.
Yeah Nance and the Dems are the only ones doing this stuff…
You should add a /s, friend
All of the top stock traders are GOP reps, Nancy’s husband Paul didn’t even make top 10 in 2022.
I’m criticizing Pelosi because she is a democrat. We don’t expect anything better from the GOP. We can hopefully exert some pressure through outrage to make democrats change this. Democrats by and large suck but it’s a given that republicans do this too.
Quick, ask her again if representatives should be able to trade stocks.
Remember when the bill to ban stock trading well was tabled so Democratic leadership could introduce a bill to ban stock trading poorly and then that bill was quietly delayed until after the Democrats lost the house?
https://www.nytimes.com/2022/09/30/us/politics/stock-trading-vote-congress.html
The house always wins.
Actually, Paul has lost money some years.
Anyone with Nvidia stock made a stupid amount of money.
Not everyone who has Nvidia stock has a hand in policy that influences stock prices.
What legislation involved nvidia?
The gain was from a call though, no lt ownership of existing stock over long term.
Stop voting for these people you fucktards.
It turns out the two party system is sort of like a hostage situation
Stop voting for who? Democrats? Republicans? Politicians? Insider trading is effectively legal in congress, no matter your party affiliation.
We need a complete overhaul. But we still need to keep voting. Progressives at least favor improvements to the system itself, so if you mean “vote progressive instead of these others”, then I agree.
How do 80 year olds know what stocks to buy and I don’t?
Because they get all the insider info that they are legally allowed to use for investment strategies which commoners are not.
Well excuse her for finding a permanent life partner while in college. I suppose she should be ashamed of herself, is that the consensus here?
BTW, what exactly are her inside trades? Is it when her husband bought a large stock offering from VISA right before a big vote on VISA legislation where she *checks notes voted against VISA’s interests and passed regulation against them in 2007? Is that the big secret, voting against the big companies while buying their stock?
Fun Fact, the top traders in Congress are all GOP reps. In 2022 she wasn’t even top 10, some years her husband makes Negative profits.
She married a man in college who would later become the owner of an investment firm. Have you tried doing that?
Who says they do? Everyone holding Nvidia got the gains, it’s the 6th largest company by market cap, everybody with enough money in the stock market (or any shares in an S&P 500 index fund) owns some.
And you’ll never see an article about Nancy Pelosi losing money because nobody cares, so if she has a lot of money in a lot of places, you’ll just see the bets that succeeded and think she’s killing it.
What methods have you tried? She’s tried ALL of them
Girlboss financial crimes 💅
There is a lot of financial crime in congress, but this isn’t it. Heck, even I knew to buy Nvidia.
What’s the crime? anyone who follows the market knows people have been drooling over nvidia for a long time now.
Is it really a bet if you know the outcome?
Pray tell the supposed known outcome you speak of? Did I miss the big 2023/2024 nVidia legislation? Was it somehow completely unrelated to announcements by companies like OpenAI’s new model and nVidia’s expansion in China? Or are you saying Pelosi knew about the nVidia Announcement somehow?
You sure it wasn’t her Husband that did that? I mean it is what he does as his job.
He probably gave her advice based on what would likely be happening in Congress.
And again I ask what legislation affected nvidia stock?
Can I hire her as my stock broker?
You should hire her husband that has done this his entire life.
YOLO
Making money isn’t the problem, insider trading is the problem. Did she do something as a congressperson that gave her inside knowledge of how AI was going to blow up Nvidia stock?
If not this is a non story.
Nah, see, the reality is the stock market is a fundamentally manipulatable thing that is weakly coupled to anything.
Oh OK then, thanks for clarifying.
She’s probably one of the ones who made a bunch of trades just before the first lockdown of the pan. Or her husband. I don’t trust any of 'em without full transparency.
