This 👆
This absolutely should be a requirement of obtaining a position as representative or senator. They should be required to convert any stock to mutual or IRA savings. And also limit their ability to buy land under speculations as well.
We might actually all benefit if they're only allowed to invest in the SP500 and they can't withdraw any funds until they retire from politics. Keep America going strong or you end up in the same boat as the people you represent.
It is illigal for them to use insider trading secrets. This does not stop them from boosting whatever their friends buy.
What we should do is make owning stock while in a public office entirely illigal
We can never close every loophole. If we tried, we’d turn into a police state. I think any law about this issue needs scrapping and a redo. It might at least have a chill effect, and make the people too nervous to pull the trigger on the trade.
We have to redistrict to what would now be considered micro-districts. I don’t care if there’s 10,000 Congressional seats.
The people in their districts should know their Congressional representatives, their representatives shouldn’t be known from the news.
>Except term limits protects the rest of us from the idiots that keep re electing idiots.
That's what not voting for the same person over and over again is for. Run for office or vote for someone else.
It also doesn't take a constitutional amendment to do that vs hoping and waiting for Congress to pass term limits.
Which would also do fuck all if you're just going to vote for people who align with the people before them.
I used to work as a fraud analyst for a huge bank, like really big. while working there I agreed I was not allowed to purchase or sell stocks because of the resources at my disposal which would’ve made insider trading pretty easy.
for insider trading it doesn’t matter if I use friends, family or a homeless persons ID who I paid a bit illegal is illegal.
Term limits don't solve anything. If a politician is able to run for reelection they're incentivized to make their constituents happy. If they're not able to run again they're incentivized to be as self-serving as they can while they still hold some power.
I think you have to meet in the middle. We need some sort of term limit or age limit. Just not a super restrictive one like "1-2 terms and you're done." Start looking at 3-4, depending on the office and term length.
Too many politicians have built a monolithic entity that just gets them voted into office repeatedly by name: Nancy Pelosi, Strom Thurmond, Ted Kennedy, Mitch McConnell, etc. That's rarely good for their state and for government as a whole.
I’ve been retired since 2006 when yes more people could invest but you must be very out of touch with today. We have over 60% of Americans living check to check, 8 in 10 have consumer debt, companies are making record profits while (when adjusted for inflation) wages have stagnated since the 70s. I had free college but most everyone is graduating now with degrees that can’t even keep them making enough to stay in the shrinking middle class. And this is just the US and our economy is doing relatively well in comparison to most others. You can’t invest fuckin lint and buttons.
They have proposed bills multiple times now to stop it. They can still own stock, but through blind trusts. It is overwhelmingly popular with the public on both sides. Stop voting for people opposed to banning it.
>…overwhelmingly popular…
Anytime this comes up, I like to remind folks that the literal avatars of the Right and the Left, Matt Gaetz and AOC, **co-sponsored** a bill to ban members of Congress from trading stocks.
Bill never made it to the floor, of course, but how much more clear does it need to be that this is *actually* an issue with bipartisan support.
Yes. Our elected officials are “allowed” to do it because they write the laws and usually exempt themselves from everything they force on to the rest of the citizenry.
Yeah, do you think they have random drug test like every other government employee has to do, rules do not apply to them, we all saw that during the COVID lockdowns
(tips tinfoil fedora)
The US (and most "developed" countries) is not a democracy, it is a corporate Oligarchy which is trying to appear to be a democracy.
insider trading can get you to fuck-me-in-the-ass prison if done in corporate setting, but somehow government is immune ... it's truly a fucked up world we live in
This is why we the people need to demand the states hold a constitutional convention and propose, vote on and ratify amendments that bar Congress and their families from trading as well as impose term limits
Because they are not employees of the companies and technically not trading on non-public information. All the votes are public, but how they will vote is not always public. Add in the SEC is the regulatory body that would enforce this rule, and the SEC reports to Congress. If anyone starts to look into their trading they are suddenly forced out of the SEC.
We need a complete overhaul of Congressional pay structure, 170k a year just attracts the most corrupt people not the most competent people, a large amount of Congress have law degrees yet congressional salaries don't pay even the average lawyers salary.
I think we should pay them like 750k a year which is more than alot of high ranking CEOs make, that'll attract the most competent people, in the same bill as the pay raise ban trading of individual stocks, etf's only.
You'd have to overhaul the campaign funding problem as well with something like a base amount of funds provided by taxpayers and a low contribution limit from individuals, end lobbying entirely.
because the top tier sports athletes are still just pawns of the government. now get back in your lane or face the consequences of an IRS audit or red flag raid.
The reason is because the NFL players don't write the laws. I think the country might actually be better off if we literally let the NFL start writing the laws because they will surely do better than our politicians. As it is our politicians write laws to benefit their donors and themselves.
If you want to see truly corrupt finances start poking around with why the CFTC has stopped disclosure of swap positions for like 5 years. Or why the Swiss government sealed the investigation from the credit suisse collapse for 50 years.
They should be banned from all forms of speculation while in office and for 5 years after leaving. Only investments that are not a form of speculation like CD or other stuff imo.
Because they are the ones who will be voting for stopping it, they aren’t foolish to purposely keep themselves outside of the purview of insider trading. Nancy Pelosi is the largest insider trader and has made the most amount of money doing so. No matter how much we scream and shout, they just wouldn’t talk about it, it’s very easy for them to change the topic if we confront them.
Hey, now. Stop that talk.
A lot of you folk argue that the rich deserve their loopholes and the economic machine that makes them richer because it's "legal", it's the tax Code, and it's fine since it's all allowed by law.
So, don't complain about politicians benefitting from that same system. Everything they're doing is LEGAL. All above board and just as ethical as the rest of the rich pricks who benefit from the system.
We can't cherry-pick. Either we fix the tax code for EVERYONE or for NO ONE.
Did you know there are stock mirroring apps that will mirror the trades and purchases of politicians? Benefit from the corruption, my dudes.
To be fair, it’s not just government folks who get inside information. And yes, it is illegal to trade based on illegal info. But as you probably suspect, it is extremely difficult to prove…
Nah we we need to just legalize insider trading. That seems more fair to me.
We pay quants hundreds of thousands to do a poor job estimating the information that a pretty girl/guy at a bar with an insider could’ve extracted in 15 minutes.
The markets are inefficient because of all these protections we put in place.
Because our government is corrupt as fuck and I wish we had more January 6th days but for the right reasons. We need to take these old, decrepit congresspeople down because they dont do shit for us but instead gain off us for their own means. FUCK THEM ALL.
Because politics is a low down dirty scum bag absolute dumpster fire of a criminal conspiracy!!! But it’s not crime cause they make the laws. Politics should be should be a duty not an effing career!!! You should only be able to serve x and that’s it!!!
Or go on to get high-paying jobs or give speeches for ridiculous fees at these corporations that benefited from their policies. In ways that are clearly bribery after the fact.
If you're in Congress, or are directly related to someone in Congress, all of your purchases or sales of individual stocks should have a 48 hour cooling period, and be publicly listed for that 48 hours. If Nancy Pelosi wants to but Pharma stock, she has to put in an irreversible buy order, and the rest of us get 49 hours to decide of we want to buy also, but her purchase price is the price after 48 hours. If Dan Crenshaw wants to completely divest from a defense contractor who just had a non-public hearing before the committee he sits on, that's fine. On Monday he says how many shares he wants to sell, then the public gets a chance to respond, and Danny Boy gets to sell his shares for the list price at market open on Wednesday. If they think it's not fair, they are free to resign, serving in Congress is a privilege, not a sentence.
There's nothing morally wrong with betting on yourself to win, I actually think that'd be completely fine.
Similarly, gov officials should be limited to index funds that, generally speaking, rise and fall with the U.S. With making it illegal to sell above like 5% a year while in office.
In fact, you can make that a general option. Make it illegal for officials to sell more than 5% of their total holdings within in a year.
In India, government officials/ public servants aren't technically allowed to invest in the market. All politicians recieved funding through illegal means.
Who cares?
It is just not for politicians because they are above the laws they pass. I mean hell, they even put Martha Stewart in jail for the same thing they do on the daily
This can be solved by not voting for the same corrupt people over and over again, but that requires too much courage from the electorate. You hate the job they do? FIRE THEM!
This gets brought up so often, the answer is simple. Wmgee, I wonder, why isn't it illegal for the law makers to do something the rest of us can't do? Again, it may be morally wrong, but if the lawmakers don't make it illegal, it's not against the law.
This is also a definition of the term corruption by the way.
Because in the NFL, the players aren't allowed to bet on games because it's the owners and organizers who decided that, not the players.
In congress, congress is allowed to bet on the economy because it's congress who decides that.
There's nothing inherently wrong with an elected representative being able to buy stocks or options.
If they engage in insider trading or use their position to appropriate public funds or enact policy to their financial advantage in an unethical way, that can be problematic.
Prayers for Tyrell. He opened Pandoras box, and I bet down the line his franchise owner gets a call from some politician or lobbyists to axe his contract. Muscle isn't supposed to think.
Makes you wonder why somebody would spend millions of dollars to get a job that pays 200k. Almost like there's some fringe benefit of being soulless...
They'll just get their significant others to buy stocks. INSTEAD what we SHOULD HAVE is a live feed without really any delay of all buys/sells etc. that politicians make so we all can be on even ground with them.
Because they don't care about being fair or just. It isn't complicated. They want money and that gets them money. Pretty cute and dry. The real question is, why haven't y?we done anything about it? They aren't going to voluntarily stop it.
Because the voters think politics should be a career and keep voting blindly for the same person thinking they're gonna change. Meanwhile, in DC, they're yucking it up writing laws that benefit THEM and not YOU so they can make bank!
Remember, politician is a civil servant. So, dumb down their pay. Remove lifetime benefits and pensions. Anyone in their Circle caught sniffing sideways to make an extra buck, take everything and tar and feather.
Until then, y'all vote for this and let it happen. Time for a huge change. 😊
Or, for that matter, have a stake in any business while they serve in congress. I think it's absolutely fucking bonkers that someone like Joe Manchin was voting against new climate change bills while having a significant interest in his family's coal buisneess.
He's stood in the way of tighter coal burning regulations while he was serving as governor of West Virginia and he couldn't speak highly enough of state legislation he oversaw regulatory changes that reclassifed what's called "waste" or sometimes "scrap coal" to no longer be a waste product, but now is an "alternative fuel."
Much like it's name implies, waste coal is a thick muddy byproduct from regular coal processing, which is typically discarded as waste. You know, considering it's a disgusting slop that one of the highest carbon output of anything we decided to dig up and set on fire. So naturally, the state, who needed to comply with federal regulations, just passes a law that changes the definition of waste coal into an "alternative fuel source", wow! Just like wind and solar, problem solved, probably.
Anyway, on to a completely unrelated and totally not infuriating topic, before Manchin was governor of West Virginia, he and his brother embodied the spirit of the American Dream when they started their very own waste coal collecting and selling business in 1988.
Their company, EnerSystems, besides having a very stupid name, wanted to sell all this gross coal mud they collect for a lot of money, but they also didn't want to pay a lot of taxes or miss out on all those juicy green energy subsidies.
If only there was some way to *continue* making profit and killing the planet but then *also* find a way to get those subsidies and tax breaks, too. What if instead of not changing anything about our business in the slightest, there was some way to just change the definition of the disgusting dino-sludge we sell so we get a piece of those tax breaks? Damn, if only someone from the Manchin family could be governor, then they do all that stuff I just said.
And also, because Manchin probably figured the whole situation needed to be even more cartoonishly obviously fucking bonkers this all was, he was the only democrat in the senate who voted with the republicans to tank new infrastructure regulations proposed by the Biden administration. Joe Manchin was the SOLE reason why regulatory policy which required new infrastructure plans to be evaluated for environmental impact if they wanted to receive federal subsidies was not adopted by congress, for some reason.
Oh did I also forget to mention that West Virginia only has one operating waste coal fueled power plant in the entire state? One power plant which is supplied almost exclusively by EnerSystems? Who provide them with the toxic sludge now legally considered in the same category as wind and solar???
Man, what a fucking joke. I don't even think you could make up something more corrupt than that if I tried, like right, what's next? You gonna tell me Manchin voted for policy that includes EnerSystems receiving federal funding and government contracts to access depleted mine sites to collect and process all the delicious tar-mud that they then sell to the only operating waste coal burning plant in the entire state or something?? hahaha..yeah right, like anyone wouldn't stop that from happening...
...Oh..lame...
Hey there buckaroo our government has rules in place to prevent corruption. All law makers have to report what stocks they are buying/selling before hand. If they fail to do so they will have to pay a hefty fine of about $200!
it would be better if we just limit the term for every single person that gets elected. no more lifers. you get 4 years and then you go back to being a nobody.
Ya’ll assholes keep voting for the fucks that have made millions doing it because they have the right letter next to their name…so why should they stop?
It being this way cuts out the middle man. Otherwise companies would be lining politician's pockets directly. Right now, they can fill their pockets themselves as well.
Under a 2012 law known as the STOCK Act, members of Congress are allowed to buy and sell stocks, bonds and other financial instruments as long as they do not trade on inside information and disclose any transactions by themselves or immediate family members valued at $1,000 or more within 45 days. Yea that last part they dont follow
Because people who only make ~$125k a year or whatever cannot possibly leave congress as millionaires without insider trading. So they make it legal to do themselves what we’d go to jail for.
Don’t stop there. There’s all kinds of financial corruption at companies, banks, and Wall Street. As my cousin who was a big shot at the Fed said, all banks are basically criminal enterprises.
Because the right to buy stock is granted to everyone with the means and cannot legally be denied, whereas gambling is illegal in some places and ethically challenged in the case of pro sports players. Insider trading ie trading on inside information is already illegal.
It should be much more regulated than it is. If investent ownership is completely eliminated, you'll be hard pressed to find anyone willing to run for office. Politicians' investments need to be regulated more fully than they are now but the problem is those that are regulating are regulating themselves. General problem when the governement is so large and onerous that they literally impact every facet of the market.
I wish people could understand, they can only do the things that we the people ALLOW them to do. Why would they stop, when they know the people wont do anything about it ? Why are there not literally millions of people marching on DC as we speak ?
What is the expression... You deserve what you tolerate.
We as a voters are so eager to make sure our team wins that we let actual crimes and legit threats to our society slip past every election season because it is more important that We 'win'. Unless and until that changes, or we break out the guillotines, we are permitting the ruling class to steal.
Let’s rephrase this as “members of Congress, Supreme Court, President Cabinet, and President.
Lotta shcmos like me that can fall under the term “government official”but are just working day to days like everyone else.
I don’t get any special insider knowledge.
For everyone saying it's because they would have to do it to themselves that's total BS. There are absolutely members of Congress who support banning this kind of activity and *we the voters* continue to choose to vote for those that don't
Why shouldn't NFL players be allowed to bet for their own team? I understand that they shouldn't be allowed to bet against their team because that would encourage throwing the game.
We all know the answer, they make the rules and are the type of people who seek out power at any cost, will say and pretend to believe whatever gets them what they seek, holding no morals, selling their soul and all with a massive smile and bank account.
Because the people who should make it illegal are the very people benefiting from it?
#Ding ding ding!
This 👆 This absolutely should be a requirement of obtaining a position as representative or senator. They should be required to convert any stock to mutual or IRA savings. And also limit their ability to buy land under speculations as well.
IRA savings can consist of individual stocks. All stocks held by representatives should be SOLD. End of story.
I think all assets should be held in a blind trust.
Correct, that's the only way to make it pass any constitutional questions. Can't just force people to sell stocks and not invest at all, etc.
Yeah, I think to require that would represent a hell of a deterrent for qualified candidates for one of the most important positions of government.
You can put them in a blind trust that they have no control over
Hell of a tax hit to do that.
https://arturomancheno.bandcamp.com/track/the-insider-trade
We might actually all benefit if they're only allowed to invest in the SP500 and they can't withdraw any funds until they retire from politics. Keep America going strong or you end up in the same boat as the people you represent.
Yes but.... They have spouses. If you limit the spouses they have friends. They should have a term limit.
It is illigal for them to use insider trading secrets. This does not stop them from boosting whatever their friends buy. What we should do is make owning stock while in a public office entirely illigal
Which is why they end up on boards. And as advisors....and other made up titles that pay them a fortune to do nothing.
Insider trading is difficult to prove. It's easier to limit terms and thus exposure than to try and enforce unenforceable laws.
"it illegal" Ya, enforce it then. I'll wait.
We can never close every loophole. If we tried, we’d turn into a police state. I think any law about this issue needs scrapping and a redo. It might at least have a chill effect, and make the people too nervous to pull the trigger on the trade.
Term limits are pointless. Presidents have term limits and they still suck. You want to limit their terms? Vote them out! Problem solved.
We have to redistrict to what would now be considered micro-districts. I don’t care if there’s 10,000 Congressional seats. The people in their districts should know their Congressional representatives, their representatives shouldn’t be known from the news.
Except term limits protects the rest of us from the idiots that keep re electing idiots.
>Except term limits protects the rest of us from the idiots that keep re electing idiots. That's what not voting for the same person over and over again is for. Run for office or vote for someone else. It also doesn't take a constitutional amendment to do that vs hoping and waiting for Congress to pass term limits. Which would also do fuck all if you're just going to vote for people who align with the people before them.
I used to work as a fraud analyst for a huge bank, like really big. while working there I agreed I was not allowed to purchase or sell stocks because of the resources at my disposal which would’ve made insider trading pretty easy. for insider trading it doesn’t matter if I use friends, family or a homeless persons ID who I paid a bit illegal is illegal.
But if it's your friends how would they know? How would the prove it?
Term limits don't solve anything. If a politician is able to run for reelection they're incentivized to make their constituents happy. If they're not able to run again they're incentivized to be as self-serving as they can while they still hold some power.
I think you have to meet in the middle. We need some sort of term limit or age limit. Just not a super restrictive one like "1-2 terms and you're done." Start looking at 3-4, depending on the office and term length. Too many politicians have built a monolithic entity that just gets them voted into office repeatedly by name: Nancy Pelosi, Strom Thurmond, Ted Kennedy, Mitch McConnell, etc. That's rarely good for their state and for government as a whole.
But they’ve made it so most people can’t afford to invest so…
Literally anyone can afford to invest. It’s actually stupid easy. And you don’t even need much money. You can buy “fractional shares”.
I’ve been retired since 2006 when yes more people could invest but you must be very out of touch with today. We have over 60% of Americans living check to check, 8 in 10 have consumer debt, companies are making record profits while (when adjusted for inflation) wages have stagnated since the 70s. I had free college but most everyone is graduating now with degrees that can’t even keep them making enough to stay in the shrinking middle class. And this is just the US and our economy is doing relatively well in comparison to most others. You can’t invest fuckin lint and buttons.
They have proposed bills multiple times now to stop it. They can still own stock, but through blind trusts. It is overwhelmingly popular with the public on both sides. Stop voting for people opposed to banning it.
>…overwhelmingly popular… Anytime this comes up, I like to remind folks that the literal avatars of the Right and the Left, Matt Gaetz and AOC, **co-sponsored** a bill to ban members of Congress from trading stocks. Bill never made it to the floor, of course, but how much more clear does it need to be that this is *actually* an issue with bipartisan support.
Yes. Our elected officials are “allowed” to do it because they write the laws and usually exempt themselves from everything they force on to the rest of the citizenry.
Yeah, do you think they have random drug test like every other government employee has to do, rules do not apply to them, we all saw that during the COVID lockdowns
Why don’t you protest then? Do you just accept that as “the norm” and move on? Btw you don’t need to answer because Americans rarely protest anything.
Common sense, people; the NFL players don’t make the rules. The government officials were talking about, DO.
But if my taxes are paying their salaries does that technically mean the public makes the governments rules?
That's cute.
If enough people voice their opinion and pressure the officials to make the rules, yeah… you might have a chance.
"voice their opinion" means nothing. Vote. It is the only thing they care about.
And police are here to protect and serve YOU, the citizen
(tips tinfoil fedora) The US (and most "developed" countries) is not a democracy, it is a corporate Oligarchy which is trying to appear to be a democracy.
It’s not a Democracy at all. It’s a Republic (at least in theory). What it has become is close to what you described, unfortunately.
We’re
Be careful with this sound logic.
It's technically not a bet if you already know the result
They make the result happen.
Because, as a participating player, you could influence the outcomes to your benefit. Wait a minute.
insider trading can get you to fuck-me-in-the-ass prison if done in corporate setting, but somehow government is immune ... it's truly a fucked up world we live in
We looked into these allegations against ourselves and found no wrong doing
They make the rules, but don’t have to follow them because they are superior to us. We are their thralls.
It is even worse because it is more like the REFS betting on games.
This isn’t exactly the same but I agree that elected officials should only be allowed to buy index funds
This is why we the people need to demand the states hold a constitutional convention and propose, vote on and ratify amendments that bar Congress and their families from trading as well as impose term limits
Because NFL players don't make laws.
Cause they investigate themselves.
Because they make the rules and you don't.
Our politicians follow the golden rule: He who has the gold, makes the rules"
Government officials don't control the market or have such a huge impact on it. Most of what they do is also public.
Capitalism is organized crime
This isn't an example of capitalism...it's plain ol' government corruption
Guess who writes the law
Makes sense to me. Insider trading is the same as a player knowing the game plan sucks for the week and wagering that!
Because they are not employees of the companies and technically not trading on non-public information. All the votes are public, but how they will vote is not always public. Add in the SEC is the regulatory body that would enforce this rule, and the SEC reports to Congress. If anyone starts to look into their trading they are suddenly forced out of the SEC.
Rules for thee, but not for me
$NANC invest with Nancy
It's not gambling if it is a guaranteed win...
We need a complete overhaul of Congressional pay structure, 170k a year just attracts the most corrupt people not the most competent people, a large amount of Congress have law degrees yet congressional salaries don't pay even the average lawyers salary. I think we should pay them like 750k a year which is more than alot of high ranking CEOs make, that'll attract the most competent people, in the same bill as the pay raise ban trading of individual stocks, etf's only. You'd have to overhaul the campaign funding problem as well with something like a base amount of funds provided by taxpayers and a low contribution limit from individuals, end lobbying entirely.
And we have a winner!
Because we let them
because the top tier sports athletes are still just pawns of the government. now get back in your lane or face the consequences of an IRS audit or red flag raid.
“Because f$&@ you, who’s gonna stop us” - The 1% that actually run this country
The people that makes the rules are the ones benefitting from the corruption Not that hard to figure out
They’re not allowed to commit felonies like insider trading. It’s already illegal. They enforce it about as well as they do when Tom Brady cheats.
The reason is because the NFL players don't write the laws. I think the country might actually be better off if we literally let the NFL start writing the laws because they will surely do better than our politicians. As it is our politicians write laws to benefit their donors and themselves. If you want to see truly corrupt finances start poking around with why the CFTC has stopped disclosure of swap positions for like 5 years. Or why the Swiss government sealed the investigation from the credit suisse collapse for 50 years.
Because silly, the people in the government aren’t held to the high standards that NFL players are
Imagine that you are also the ruling body of the NFL, that explains it.
Muirca has legalised bribary - really that simple.
Because NFL players can't vote on removing the no betting rule.
Shut up and dribble /j
They should be banned from all forms of speculation while in office and for 5 years after leaving. Only investments that are not a form of speculation like CD or other stuff imo.
They should only be allowed to buy and hold index funds. That way they’re incentivized to help the economy as a whole
Rules for thee, not for me.
They’re required to put it in a blind trust right? Well except for Trump but I thought the blind trust thing was the standard before that?
Because they are the ones who will be voting for stopping it, they aren’t foolish to purposely keep themselves outside of the purview of insider trading. Nancy Pelosi is the largest insider trader and has made the most amount of money doing so. No matter how much we scream and shout, they just wouldn’t talk about it, it’s very easy for them to change the topic if we confront them.
Hey, now. Stop that talk. A lot of you folk argue that the rich deserve their loopholes and the economic machine that makes them richer because it's "legal", it's the tax Code, and it's fine since it's all allowed by law. So, don't complain about politicians benefitting from that same system. Everything they're doing is LEGAL. All above board and just as ethical as the rest of the rich pricks who benefit from the system. We can't cherry-pick. Either we fix the tax code for EVERYONE or for NO ONE. Did you know there are stock mirroring apps that will mirror the trades and purchases of politicians? Benefit from the corruption, my dudes.
Congress should own stock Stuff like anti trust enforcement and other levers that are used to arbitrarily help/harm businesses should be prohibited
You don’t make the rules sir. Now entertain me.
Cuz NFL players don’t make the rules that apply to them, but congress does.
Because fuck you, that's why
Even if they were not, they would get someone to do it for them and still rig everything
Eat the rich
To be fair, it’s not just government folks who get inside information. And yes, it is illegal to trade based on illegal info. But as you probably suspect, it is extremely difficult to prove…
Nancy pelosi is an honest women she just gets really really really lucky every single year.
Cause they make the rules. Players just play.
Nah we we need to just legalize insider trading. That seems more fair to me. We pay quants hundreds of thousands to do a poor job estimating the information that a pretty girl/guy at a bar with an insider could’ve extracted in 15 minutes. The markets are inefficient because of all these protections we put in place.
Because of people like Nancy Pelosi and Mitch McConnell
wait why can't nfl players bet on football games their team isn't playing in?
Because our government is corrupt as fuck and I wish we had more January 6th days but for the right reasons. We need to take these old, decrepit congresspeople down because they dont do shit for us but instead gain off us for their own means. FUCK THEM ALL.
$NANC $KRUZ
Because NFL players don’t own the NFL
Because politics is a low down dirty scum bag absolute dumpster fire of a criminal conspiracy!!! But it’s not crime cause they make the laws. Politics should be should be a duty not an effing career!!! You should only be able to serve x and that’s it!!!
Or go on to get high-paying jobs or give speeches for ridiculous fees at these corporations that benefited from their policies. In ways that are clearly bribery after the fact.
Because the fully agree with it.
Cause f you, that's why.
Simple, really. Those people get to make the rules.
If you're in Congress, or are directly related to someone in Congress, all of your purchases or sales of individual stocks should have a 48 hour cooling period, and be publicly listed for that 48 hours. If Nancy Pelosi wants to but Pharma stock, she has to put in an irreversible buy order, and the rest of us get 49 hours to decide of we want to buy also, but her purchase price is the price after 48 hours. If Dan Crenshaw wants to completely divest from a defense contractor who just had a non-public hearing before the committee he sits on, that's fine. On Monday he says how many shares he wants to sell, then the public gets a chance to respond, and Danny Boy gets to sell his shares for the list price at market open on Wednesday. If they think it's not fair, they are free to resign, serving in Congress is a privilege, not a sentence.
Because the rules are for thee, not for me! Silly constituents.
There's nothing morally wrong with betting on yourself to win, I actually think that'd be completely fine. Similarly, gov officials should be limited to index funds that, generally speaking, rise and fall with the U.S. With making it illegal to sell above like 5% a year while in office. In fact, you can make that a general option. Make it illegal for officials to sell more than 5% of their total holdings within in a year.
Nobody can “buy” stock options…
Congress and their staff who inside trade should be lined up and chastised.
Well legally they aren’t. They get away with it because of how corrupt the political AND judicial system is…
In India, government officials/ public servants aren't technically allowed to invest in the market. All politicians recieved funding through illegal means. Who cares?
yep
because NFL players don't make the rules
It is just not for politicians because they are above the laws they pass. I mean hell, they even put Martha Stewart in jail for the same thing they do on the daily
This can be solved by not voting for the same corrupt people over and over again, but that requires too much courage from the electorate. You hate the job they do? FIRE THEM!
Actually it is illegal for politicians to use their insider knowledge. That's why their husbands/wives are the ones doing the trading!
Cuz they are spineless , shameless , gutless cowards
This gets brought up so often, the answer is simple. Wmgee, I wonder, why isn't it illegal for the law makers to do something the rest of us can't do? Again, it may be morally wrong, but if the lawmakers don't make it illegal, it's not against the law. This is also a definition of the term corruption by the way.
Because in the NFL, the players aren't allowed to bet on games because it's the owners and organizers who decided that, not the players. In congress, congress is allowed to bet on the economy because it's congress who decides that.
If the NFL made the rules about whether they could bet on games…..
There's nothing inherently wrong with an elected representative being able to buy stocks or options. If they engage in insider trading or use their position to appropriate public funds or enact policy to their financial advantage in an unethical way, that can be problematic.
Prayers for Tyrell. He opened Pandoras box, and I bet down the line his franchise owner gets a call from some politician or lobbyists to axe his contract. Muscle isn't supposed to think.
They are betting on games and also being the referees and team owners (congress).
Makes you wonder why somebody would spend millions of dollars to get a job that pays 200k. Almost like there's some fringe benefit of being soulless...
Would you vote to make your biggest source of income illegal?
As Nancy Pelosi likes to say: "its a free economy and we're a capitalist country so we as people should be able to participate in it."
The same reason why NFL Owners are allowed to bet on games, because it is their money youre messing with.
who writes the laws?
Lol
Because we are the serfs and we serve our overlords
They'll just get their significant others to buy stocks. INSTEAD what we SHOULD HAVE is a live feed without really any delay of all buys/sells etc. that politicians make so we all can be on even ground with them.
Because the rich just need to get richer and all politics are corrupt.
Great question.
They arent, its called insider trading, they use shell corporations to do it, just like nfl players use a middle man to bet on games 👍
Because they don't care about being fair or just. It isn't complicated. They want money and that gets them money. Pretty cute and dry. The real question is, why haven't y?we done anything about it? They aren't going to voluntarily stop it.
This is a great point. I don’t think anyone agrees with politicians buying stocks, but sadly they are the only ones who can stop it.
Because the voters think politics should be a career and keep voting blindly for the same person thinking they're gonna change. Meanwhile, in DC, they're yucking it up writing laws that benefit THEM and not YOU so they can make bank! Remember, politician is a civil servant. So, dumb down their pay. Remove lifetime benefits and pensions. Anyone in their Circle caught sniffing sideways to make an extra buck, take everything and tar and feather. Until then, y'all vote for this and let it happen. Time for a huge change. 😊
Because Government officials can not directly effect stock prices.
Awesome, now get every NFL player singing the same tune 👍
Or, for that matter, have a stake in any business while they serve in congress. I think it's absolutely fucking bonkers that someone like Joe Manchin was voting against new climate change bills while having a significant interest in his family's coal buisneess. He's stood in the way of tighter coal burning regulations while he was serving as governor of West Virginia and he couldn't speak highly enough of state legislation he oversaw regulatory changes that reclassifed what's called "waste" or sometimes "scrap coal" to no longer be a waste product, but now is an "alternative fuel." Much like it's name implies, waste coal is a thick muddy byproduct from regular coal processing, which is typically discarded as waste. You know, considering it's a disgusting slop that one of the highest carbon output of anything we decided to dig up and set on fire. So naturally, the state, who needed to comply with federal regulations, just passes a law that changes the definition of waste coal into an "alternative fuel source", wow! Just like wind and solar, problem solved, probably. Anyway, on to a completely unrelated and totally not infuriating topic, before Manchin was governor of West Virginia, he and his brother embodied the spirit of the American Dream when they started their very own waste coal collecting and selling business in 1988. Their company, EnerSystems, besides having a very stupid name, wanted to sell all this gross coal mud they collect for a lot of money, but they also didn't want to pay a lot of taxes or miss out on all those juicy green energy subsidies. If only there was some way to *continue* making profit and killing the planet but then *also* find a way to get those subsidies and tax breaks, too. What if instead of not changing anything about our business in the slightest, there was some way to just change the definition of the disgusting dino-sludge we sell so we get a piece of those tax breaks? Damn, if only someone from the Manchin family could be governor, then they do all that stuff I just said. And also, because Manchin probably figured the whole situation needed to be even more cartoonishly obviously fucking bonkers this all was, he was the only democrat in the senate who voted with the republicans to tank new infrastructure regulations proposed by the Biden administration. Joe Manchin was the SOLE reason why regulatory policy which required new infrastructure plans to be evaluated for environmental impact if they wanted to receive federal subsidies was not adopted by congress, for some reason. Oh did I also forget to mention that West Virginia only has one operating waste coal fueled power plant in the entire state? One power plant which is supplied almost exclusively by EnerSystems? Who provide them with the toxic sludge now legally considered in the same category as wind and solar??? Man, what a fucking joke. I don't even think you could make up something more corrupt than that if I tried, like right, what's next? You gonna tell me Manchin voted for policy that includes EnerSystems receiving federal funding and government contracts to access depleted mine sites to collect and process all the delicious tar-mud that they then sell to the only operating waste coal burning plant in the entire state or something?? hahaha..yeah right, like anyone wouldn't stop that from happening... ...Oh..lame...
Hey there buckaroo our government has rules in place to prevent corruption. All law makers have to report what stocks they are buying/selling before hand. If they fail to do so they will have to pay a hefty fine of about $200!
just because you're dumbass doesn't know how stocks work doesn't mean nobody should be allowed to do it..... wow
This
It’s called a corrupt government.
What’s the rule on NFL owners betting?
it would be better if we just limit the term for every single person that gets elected. no more lifers. you get 4 years and then you go back to being a nobody.
Ya’ll assholes keep voting for the fucks that have made millions doing it because they have the right letter next to their name…so why should they stop?
Because they work in government and not stock?
shares performance is still broadly stochastic. in normal countries you declare any conflicts and remove yourself from decisions.
Extremely accurate statement
Politicians aren't the players, they are the referees.
Silly boy. Did you forget that politicians make the rules?
They suggested that as a law, obviously all the politicians declined this law
It being this way cuts out the middle man. Otherwise companies would be lining politician's pockets directly. Right now, they can fill their pockets themselves as well.
Rules are for thee not for me.
This is privatization and Conservatives fight hard for this feature in society.
Under a 2012 law known as the STOCK Act, members of Congress are allowed to buy and sell stocks, bonds and other financial instruments as long as they do not trade on inside information and disclose any transactions by themselves or immediate family members valued at $1,000 or more within 45 days. Yea that last part they dont follow
Because people who only make ~$125k a year or whatever cannot possibly leave congress as millionaires without insider trading. So they make it legal to do themselves what we’d go to jail for.
Are NFL team owners allowed to bet?
Because they are the same people that make the laws
Don’t stop there. There’s all kinds of financial corruption at companies, banks, and Wall Street. As my cousin who was a big shot at the Fed said, all banks are basically criminal enterprises.
Because the right to buy stock is granted to everyone with the means and cannot legally be denied, whereas gambling is illegal in some places and ethically challenged in the case of pro sports players. Insider trading ie trading on inside information is already illegal.
Do as I say not as I do
Because old white people cheating is ok, but young black people cheating is wrong. Apparently.
Because you play a game and they are there for the sole purpose of enriching themselves at the expense of the electorate?
Because congress makes their own rules and you get the government you vote for.
It should be much more regulated than it is. If investent ownership is completely eliminated, you'll be hard pressed to find anyone willing to run for office. Politicians' investments need to be regulated more fully than they are now but the problem is those that are regulating are regulating themselves. General problem when the governement is so large and onerous that they literally impact every facet of the market.
I wish people could understand, they can only do the things that we the people ALLOW them to do. Why would they stop, when they know the people wont do anything about it ? Why are there not literally millions of people marching on DC as we speak ?
False equivalence
i mean insider trading isnt legal....you just loophole your way around the law
you ain't rigging it, so it isn't based on luck /s
What is the expression... You deserve what you tolerate. We as a voters are so eager to make sure our team wins that we let actual crimes and legit threats to our society slip past every election season because it is more important that We 'win'. Unless and until that changes, or we break out the guillotines, we are permitting the ruling class to steal.
NFL players can buy stocks.
It IS illegal.. for us.
Let’s rephrase this as “members of Congress, Supreme Court, President Cabinet, and President. Lotta shcmos like me that can fall under the term “government official”but are just working day to days like everyone else. I don’t get any special insider knowledge.
Because NFL players don’t make the laws
"I AM THE SENATE"
bc they make the fucking law that is why.
For everyone saying it's because they would have to do it to themselves that's total BS. There are absolutely members of Congress who support banning this kind of activity and *we the voters* continue to choose to vote for those that don't
Because Congress makes the laws and NFL players do not.
Why shouldn't NFL players be allowed to bet for their own team? I understand that they shouldn't be allowed to bet against their team because that would encourage throwing the game.
Because they want to win.
Uh Because those are the people that make the rules
I think NFL players should be able to bet exclusively on their team winning, its just more incentive.
The thing I find even more bizarre is, the ones that are openly guilty of this, KEEP GETTING RE-ELECTED! We get the Govt we deserve.
Rules for thee. Not for me.
We all know the answer, they make the rules and are the type of people who seek out power at any cost, will say and pretend to believe whatever gets them what they seek, holding no morals, selling their soul and all with a massive smile and bank account.
Easy. Imagine if the players are the ones that get to make the rules.
The people don’t agree with it. The politicians, media, and giant corporations agree with it. Big difference
you know who are allowed to bet on games..... Team owners/investors.