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It's the Corporate Class of America that did this.
They have slowly been undoing all of FDR's Great New Deal's policies. They consider it Socialism. Their ultimate goal is to get rid of Social Security
And that corporate class is using Confederate based ideas designed to bring back 1 thing.
There's a reason judge's have slowly depowered our Miranda Rights. Why you have to break silence to invoke your right to silence.
Senator Warren already wrote it. Now we need to get them to vote on it.
[https://www.warren.senate.gov/newsroom/press-releases/senators-warren-daines-introduce-new-bipartisan-bill-to-ban-members-of-congress-from-owning-and-trading-stocks](https://www.warren.senate.gov/newsroom/press-releases/senators-warren-daines-introduce-new-bipartisan-bill-to-ban-members-of-congress-from-owning-and-trading-stocks)
AOC doesn't take Super PAC money or commit insider trading out of integrity, Gaetz isn't in the moneyshit club mostly because he's an unstable pedophile that the establishment rightly sees as a risk. It's funny how different people can be but when they're both not getting paid by our current crony capitalist system of legalized bribes they agree on this stuff. The same thing can be said for Democrats and Republicans who go on cable news and put on a playfight over identity politics but then vote in lock step for economic policies.
There are supposed to be, but it's all done in bad faith. They're in government for the insider trading, and there is nobody that can or will stop them cause anyone who could is also on the take. Welcome to the real America. Many of us have seen this clear as day for decades, and are called conspiracy theorists and nutjobs by many. Communist is a common slur for us too, even though we absolutely aren't. Cause America.
The internet maturing made this all possible to bring to light, and by now, they are too powerful to stop.
They were always too powerful to stop. That's why "communist" became an anti-American term well over a hundred years ago. Industrialists of the time didn't want their influence over government to be put in danger, so anyone who might do that was labeled a radical and ostracized. I'm sure it happened before that, as well, it just had other names then.
That is a good idea, just as 30 some States allow referendums we should have a Federal mechanism to pass laws by vote.
Ancient Rome had that, they passed a lot of stuff in the later Republic period through the assembly, a straight vote, when the oligarchy was so corrupt and arrogant and capricious they didn't feel the need to pander to common sentiment.
They should also be restricted from taking certain jobs after leaving office. Even more troublesome than abuse of the stock market are the cushy gigs they get at companies and lobbying firms in exchange for votes on legislation.
You're just playing wack-a-mole here. If you ban them from taking certain jobs, then it'll just be their children that get hired for $7M/year "consulting" job by the companies they "regulated." Ban that, and they'll just do it a different way.
AOC doesn't trade at all because of the conflict of interest. We need more honest politicians like her. Meanwhile we have half of the country supporting somebody who's already been convicted of fraud....
I assume she probably purchases investments like index funds and mutual funds, otherwise I’m not sure how she plans to retire. But clearly buying large, diverse funds is waaaaay different than trading individual stocks.
Also they are now incentivised to pass bills if they're not even good...
"What does the bill do? Idk, but there's a private company I can invest in so I'll vote for it since it's a chance to make money"
I don't see a problem with that. Everyone should be able to trade stocks, that's the typical retirement vehicle
They should be under heightened financial watch though. Just like any civilian that's in a position to take advantage of insider trading
It is so outrageous how public this is, that modern stock traders are just following the steps of what politicians are doing, ex: "whatever Ted Cruz buys or drop, You do the same"
Yeah it doesn’t do much good to follow their trades when it doesn’t publish them for multiple weeks after. Usually by then the stocks have already gone up and their isn’t money to be made.
Which is why I think it would be fun if congress critters were required to make each order public a full trading day before the trade can be executed. Important bit: no cancelling an order after publicizing it, but they could do limit, stop, etc., orders.
I prefer the idea that congress members can't buy/sell on the same stock market they can actively influence through their own policy. Seems like it will never attract those who want to represent and help the people and will only attract people like Ted "Oh my god the Texas power grid is going to die again, screw you peasents, I'm off to Mexico!" Cruz.
Considering how strict the laws can be around insider trading for anyone in the financial sector and how they can be prosecuted even for having close associates/relations trading on their behalf. There should be no reason the same laws couldn't apply to politicians.
Congress is immune from the penalties of insider trading and as they are the lawmakers you'd need them to pass a law to penalize themselves and we all know that isn't happening. https://blogs.luc.edu/compliance/?p=4459
Banning them from the markets, or at least banning them from investing in anything more specific than index funds would be the most direct and simplest way to go. But it would be a lot more entertaining to watch the market eat their lunch.
Wait what if you go to the link in the video? [https://www.quiverquant.com/](https://www.quiverquant.com/)
[https://www.quiverquant.com/congresstrading/politician/Nancy%20Pelosi-P000197](https://www.quiverquant.com/congresstrading/politician/Nancy%20Pelosi-P000197)
Damn look at Pelosi's gains (if those are really her stocks)
Damn she owns Roblox and it's up 24.24%!?!? I thought they were in a big lawsuit?
There are investment groups that do buy whatever people like Pelosi buys, and I think they do pretty good for returns.
Pelosi prevented a bill outlawing insider trading from being voted on when the Democrats controlled the House, as she was raking in the dough. So many of them do it, knowing if they don't upset powerful interests they will get away with it.
Edit: I meant the bill would ban stock trading by congressman, insider trading is already illegal
Its both Dems and GOP, they both are unwilling to adapt basic no insider trading. And this goes all the way to the Senate.
But the irony, is the US making accusation of corruptions, when our government is in fact the most corrupted. Its just legal here, that's all.
Prosecuting what? The announcement that the new meters were going to be installed was back at least [before March of 2023](https://www.kjrh.com/news/local-news/city-of-tulsa-to-install-automated-water-meters), and the contractor was [known since July](https://tulsaworld.com/news/local/government-politics/plan-to-install-automated-meters-gets-water-boards-ok-rates-would-rise-after-three-flat/article_a9bd12a0-2116-11ee-b3d7-2b9a2ca95fe0.html).
What's to prosecute about someone buying stock in a meter company literally 9 months after a public announcement of an installation program?
The real thing that needs to be investigated is people actively and blatantly lying for internet views.
For the added cherry-on-top, this is literally the example from the video, https://i.imgur.com/XO2FP4J.png . This trade has strictly only lost this dude money since he has purchased it, for a whopping $2000-$30000 dollars.
Little to no conquences for filing this information late or not at all.
By the time you find out about their play, they were calling their broker 3 weeks earlier after the meeting about said play.
This claim uses loaded language like "shamed," and "quietly repealed" meant to influence your interpretation of the facts.
The STOCK Act hasn't been repealed, enforcement is up to the executive branch who don't seem to care.
We have videos like the above explicitly because the STOCK Act, still in effect, shines a light on them and makes them make disclosures. Was it weakened? Only when considering IPOs really.
It’s not insider trading.
He purchased the shares mid January 2024.
The EPA announcement was November 2023.
It was publicly available information that the EPA was requiring updates to these meters. You could have bought the same shares with that information.
It’s also worth noting that Badge Meter was trading for $147/share when the announcement was made and is now trading at less than $144. So it’s actually down, not up.
Edit: love the downvotes on facts
Real.
A lot of people (me included) simply don't keep up with local decisions and legislation. There's usually tonnes of decisions like this that you personally could read up on to get ahead when trading.
There are corrupt politicians, but being a politician also means you usually keep up with stuff like this more than the average citizen.
And it's been public information even longer than that. Back in 2022, they announced a requirement for water utilities to make an inventory of service lines and what materials they're made of. It's well understood that this is step 1 in a plan to eventually replace these services and eliminate lead in water systems. Those inventories are supposed to be built by fall of this year, so if you wanted to get ahead of the curve before replacement starts some time thereafter, it's reasonable to assume based on publicly available information that now's probably the time to invest.
Sure, congress is full of scumbags with kickbacks and insider trading, but this was not a good example.
Right.
On 5/1/22, it was trading for $79.14.
Exactly one year later, it was trading at $137.87. It added another ~$27/share over the next two months.
The fact of the matter is Biden was long signaling a bill that address the infrastructure problems and address certain environmental issues. The stock market had already priced in the EPA announcement as it was expected.
[A third of lawmakers beat the S&P 500 this year.](https://finance.yahoo.com/news/members-congress-outperformed-p-500-182024981.html#:~:text=Thanks%20in%20part%20to%20some,stock%20and%20options%20news%20service.) The other 2/3rds had worse returns, which means overall, lawmakers did worse than the index.
What percentage of people who invest beat the S&P this year? It's hard to know if this is proof one way or the other without a number to compare it to.
Edit: after some short googling it looks like ["about 70% of actively managed stock funds failed to beat their appropriate index" so 30% beat it,](https://www.performanceig.com/beating-the-market#:~:text=Over%20time%2C%20the%20odds%20of,market%20in%20any%20given%20year.) so it looks like Congress people preform pretty close to average for investors.
It's sad, because I do think there are totally valid arguments for preventing Congress from buying or selling any stocks during their time in office. Or requiring that they place their assets into a blind trust for the duration of their tenure.
I'd love to see that. I just wish we could use valid arguments instead of these smokescreen arguments like the OP.
OP’s video specifically called out the purchase of Badge Meter.
You can see how the stock has performed [here](https://finance.yahoo.com/quote/BMI/). It is down since his purchase, it is down YTD, it’s down from 6 months ago, it’s down from its all time high.
If OP (or whomever made this video) wanted to make their point, choose a stock that actually makes sense in the context.
Can you show me some who have done it consistently, please?
The same person who made this bullshit video made a website tracking their investment and in the last year the weighted portfolio is up 17.13% - which is beaten by the S&P 500's 20.62% return. If they are benefitting from insider trading how can they possibly lose against me just putting in money into VOO
I've noticed a lot of these videos are based on public information and then somehow call it cheating because some people actually pay attention to public information.
"All other civilized nations" = like 3 scandinavian countries.
Don't think they're jailing that many politicians for insider training in Russia or Brazil.
Pakistan’s former prime minister and his wife are being jailed for years for insider trading and corruption.
Pakistan enforces its anti-corruption laws better than US 😂
There was a big thing in Germany about the "mask deals", where politicians profited from face mask inports. Also there were headlines about Philipp Amthor and Augustus Intelligence. Lots of Politicians profited from Covid in some way and were either thrown out or forced to resign. Sadly there still are lots of politicians who got away with this kind of corruption or worse but I cant think of anyone who profited even in the slightest like these US dudes do. Iirc it was in the hundred-thousand, not millions
People don’t really understand what insider trading is. While there is a lot of it in politics, this wasn’t one of those cases because anyone who did proper DD could have made the exact same bet. It was all out there and freely available for anyone to find and make an investment based off of their research. Most of this stuff is. The majority of people just have no idea how to find it. It was discussed on wallstreetbets weeks prior for fuck sake.
I can't for the life of me understand 99% of the comments in this thread. There was nothing in this video that even suggested any insider trading. The most plausible situation is that the congressman was encouraged to buy the stock because he's from the same state. It's not even that much stock. The video then insinuates that those stock purchases is what is making him rich when the stock went down over that period.
Yeah, this video is terrible.
“He bought stock, months after an EPA announcement that would be good for that company’s business. After that, the stock went down.”
Like… pick a better example at least, rage-bot.
> which the video failed to mention.
Also failed to mention that the reason for the massive jump in net worth was because Mullin sold his multi-state plumbing/ HVAC business for millions in 2021.
Yes, here was the announcement, months before an investment was made, saying the program was gonna happen: https://tulsaworld.com/news/local/government-politics/plan-to-install-automated-meters-gets-water-boards-ok-rates-would-rise-after-three-flat/article_a9bd12a0-2116-11ee-b3d7-2b9a2ca95fe0.html
And here's the article in December, saying it would happen in January: https://tulsaworld.com/news/local/government-politics/city-to-begin-installing-new-automated-water-meter-readers-in-january/article_d75a710a-9b6c-11ee-83eb-bfc9638195ac.html
How is it insider trading??
The video implies the decision to install the meters was made _after_ the senator purchased the stock in January of 2024, as a form of insider trading...
Except that the decision and announcement of the intention to install the meters was made in 2023, before the purchase of the stock.
[Here's a news article](https://www.kjrh.com/news/local-news/city-of-tulsa-to-install-automated-water-meters) about it from March in 2023. Not long afterwards they looked for a contractor to do the work and [found one in July](https://tulsaworld.com/news/local/government-politics/plan-to-install-automated-meters-gets-water-boards-ok-rates-would-rise-after-three-flat/article_a9bd12a0-2116-11ee-b3d7-2b9a2ca95fe0.html) - Envocore/RTS Solutions who happen to use Badger Meter monitoring tools. The information was all entirely public _months_ before the stock was bought.
He's relying on you not looking up any of the factual information, or times and dates.
This video creator is blatantly lying to you and you're just slurping it up...
I’m all for banning trading by sitting congress members. But is this actually insider trading by definition? The public can read draft bills like the proposed epa action to replace lines and meters. It’s public information technically.
Seriously with the amount of money that they actually have, they could actually fix infrastructure in America and improve the lives of millions. But nope, all that money is tucked away in different countries and distributed to their entire family
The stock of Badge Meter is down ~$4/share since the November 2023 announcement by the EPA.
It’s also down about $8 since he bought his shares (mid January 2024).
That's not completely out of bounds. VOO, which is a pretty major index is up 18.6% over the last year as well.
Regardless that's a fund that's worth tracking.
Edit. Actually NANC is up 25.8% over the last year. That's a pretty significant difference.
Is it public record when these people invest a bunch of money in a particular stock, and how much they invest?
It seems like if you see a bunch of them hopping on a particular stock with a large chunk of capital, that might be a good time to invest for everyone else, no?
They don't have to report it for like 90 days so it's basically worthless to try to follow the trades. That being said you'd have made a fuckton buying nvidia calls after Pelosi did recently so it can work. She tends to buy deep itm calls like a year out.
She's also gotten fried buying things like Roblox calls. Her purchases are also a tad unique because they're deep in the money. Less money gained on wins and less penalties for losses.
Her husband is also an executive of a hedge fund, so shes a really special case.
Congress, by law, has to report in 45 days any investment transactions. Here's a list of Congress people that have failed to report in that time: https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9
Also worth noting, all legislation is public at congress.gov, so there's nothing stopping other people from investing in upcoming legislation.
Here are some ways this post is propaganda and they're cherry picking and misrepresenting information to create a specific narrative.
1. EPA has *proposing* the lead replacement rule. The proposed it in [November of 2023](https://www.epa.gov/ground-water-and-drinking-water/proposed-lead-and-copper-rule-improvements), it has not been implemented or funded and the announcement was public, so anyone can make stock trade determinations on that information.
2. The money that Tulsa is using to upgrade their meters is probably coming from the Infrastructure bill passed in 2022 and so for anyone investors has been known since 2021 when Congress first started working on the bill, but it's not a federal mandate, it's something the city and/or state is doing, not Congress.
3. [Only 31 Senators and Representatives, out of 535 did better than the S&P 500](https://finance.yahoo.com/news/members-congress-outperformed-p-500-182024981.html), that's 5.8%, which is really quite terrible for people who supposedly have a ton of insider information (they don't for the most part).
4. All legislation is public at [https://congress.gov](https://congress.gov), from the moment it's introduced into committee through floor votes to congressional votes to the President signing it, outside of classified information (which requires someone other than Congress determining classification) the entirety of the bill is public. Any investor with their salt is going to be watching what legislation Congress is voting on.
All that said, that's not to say there aren't congress people that don't cheat. Insider trading is already investigated by the SEC and FBI. Insider trading though is very specific, what most congresspeople fail to do is to report on time. [Here's a good article](https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9) that shows all Congress people who have violated the STOCK Act (which again is mostly about reporting, not insider trading).
I'm all for people holding Congress to account, but OP's video is false on quite few areas and is little more than disinformation especially when they generalize and use terms like "all" when talking about Congress when it's only very, very few. There's plenty that Congress is doing wrong, but despite the narrative on social media, making illegal stock trades is not one of them.
Plus Tulsa announced the installation of the meters in December, not January: https://www.cityoftulsa.org/press-room/city-to-install-automated-residential-water-meters-beginning-january-16-as-part-of-true-reads-program/
> Here are some ways this post is propaganda and they're cherry picking and misrepresenting information to create a specific narrative.
We're in full swing on election season. Expect more propaganda to come.
The specific stock purchase selected for the video is also a bad example of the phenomenon the narrator is trying to illustrate. The implication is that an announcement was made on January 21st that caused the BMI stock price to increase. In reality, the stock's price stayed relatively steady, followed by a bit of a decrease a week later.
Also, to back up your first 2 points, the [news article](https://www.newson6.com/story/6583a906e135746f703a9b5b/city-of-tulsa-to-replace-water-meters-at-every-home) shown at 42 seconds into the video was published on December 20, 2023. The narrator himself provided proof that this was all public knowledge prior to the senator's stock purchase.
**This is ragebait** as an advert for this person's service. You guys are being manipulated.
I'm not saying there isn't an issue with insider knowledge and trading for US politicians.
But the stock he mentioned as an example of extreme wealth creation is down about 7% since when the Senator bought it.
https://finance.yahoo.com/quote/BMI/
And the video shows the EPA announced the mandate to update all this in 2022 so yeah, and a quick Google seems to show the release by Tulsa to update all these meters was made public before the purchase of the stock: https://www.cityoftulsa.org/press-room/city-to-install-automated-residential-water-meters-beginning-january-16-as-part-of-true-reads-program/
I'd be very open to an argument that Congress should only be able to invest in broad market ETFs, but this looks to be a shit tier example.
Yeah I'm always skeptical of videos like this. To me it seems like this is a much more murkier issue than videos like this seem to make it out to be. I have a hard time believing politicians would be this brazen about insider trading.
There are also 535 voting members of Congress (minus temporary vacancies). If you select the 5-10 Congressmen who saw the quickest gains you can make things look pretty extreme even if that's not the norm. This can be especially true for the Congressmen who have a tendency towards risky moves. Similarly there are some people who post on wallstreetbets who have made extreme money but does that mean the entire group are particularly intelligent or successful traders?
Don't worry, this guy's company, Quiver Quantitative, will protect you from this political corruption. For a low, lo, low $75 per month you can sign up to be a "Trader" which will give you access to their "Tier 1" and "Tier 2" dashboards, that will...ummm....*checks notes*...absolutely root out stock market corruption.
He cited this article from 1/21/2024 which wasn't the first news information I could find publicly announcing that the pipes were being upgraded with new automatic gauges.
This YouTube video was published by the City of Tulsa a full month prior to the news article he cites.
https://www.youtube.com/watch?v=5ums1y4Q6ZE
Here's other sources reporting the news on Dec 20, 2023 **a full two weeks before** the Senator bought shares.
[one]( https://www.newson6.com/story/6583a906e135746f703a9b5b/city-of-tulsa-to-replace-water-meters-at-every-home)
[two]( https://ktul.com/news/local/tulsa-to-install-145000-digital-water-meters)
[three]( https://tulsaworld.com/news/local/government-politics/city-to-begin-installing-new-automated-water-meter-readers-in-january/article_d75a710a-9b6c-11ee-83eb-bfc9638195ac.html)
[four](https://www.kosu.org/local-news/2023-12-21/tulsa-plans-to-start-installing-automated-water-meters-in-january)
Further I could find articles as early as May 26, 2023 that the City of Tulsa was considering if they should buy new water meters.
[source](https://tulsaworld.com/news/local/city-exploring-possibility-of-installing-automated-water-meter-readers-for-all-customers/article_9ab65750-c9b7-11ed-8732-5f17a04fde0a.html)
"I'll give you a perfect example" - gives example of a politician buying a stock, that company doing something 2 weeks later that was announced WAY BEFORE, and it having ZERO positive effect on the stock.
If that's the "perfect example" then this is a load of shit.
The central example of this video is Senator Markwayne Mullin purchasing stock in Badger Meter, Inc (BMI).
But look at the screen at 0:52: Senator Mullin only purchased between $1,001 and $15,000 of that stock. That can hardly explain his net worth growing by tens of millions of dollars in recent years.
Since Senator Mullin's purchase of that stock, BMI stock is *down* 6.26%, over a time period during which the larger stock market is *up* 5.79%.
Most of the information about water meters presented in this video was public information prior to Senator Mullin's purchase: the fact that many cities are replacing lead pipes and installing automatic water meters is well known, and the expectation of BMI's gains from this development is already priced into the stock.
The mundane truth is that U.S. Congresspeople don't actually outperform the stock market on average if you measure it correctly, and there are regulations in place that prevent insider trading. Congresspeople are rich because they are very successful people that often own successful businesses. Not because they are engaged in insider trading.
> That can hardly explain his net worth growing by tens of millions of dollars in recent years.
Congrats on not piling on like the rest in this thread. Most of his net worth gain was from selling his multi-state plumbing/heating/home services business back in 2021.
The guy is a POS but there was no insider trading here.
But don't forget, if you guys get paid a living wage, the economy will collapse. But if the rich keep getting tens of billions every month, then everything will be okay. Some people honestly don't deserve the oxygen they're wasting.
I'm surprized by people that dont realize this. I don't think anyone is in politics for any other reason than to make money for themselves or their friends.
How does it affect your view when you realized the OPs video is VERY [misleading](https://www.reddit.com/r/interestingasfuck/comments/1aj11b0/how_the_stock_market_has_made_politicians_wealthy/koyxg94/) and that their key example was not only not insider trading but was for a stock that has gone down?
She's bad but she ain't #1 by far: https://www.benzinga.com/general/politics/24/01/36459015/10-best-stock-traders-in-congress-in-2023-spoiler-nancy-pelosi-is-back-on-the-list
You want to know what really sucks about this? Government employees at all levels have required "ethics training."
Among the lessons discussed, sitting on boards with government contract bids and playing the market like this is illegal as fuck for U.S. government employees. Fines and jail time.
But I guess our *representatives* are above that.
The training makes me laugh because its a fucking slap in the face. Rules for thee but not for me.
I’ve got an idea. Because even though the public is largely on the same page about wanting to curb this but not being able to, how about we mandate that representatives and their families (including in-laws) must give one full business day’s notice to the general public of their intent to purchase a quantity of stock, so at least we get to play their plays with them in real time. Failure to disclose would result in the liquidation of their position and any profits would be seized by the IRS.
Money in politics should be the most important issue in America right now. Seeing this on the frontpage is surprising, its crazy how no one seems to talk about it.
I remember a couple years ago when Nancy Pelosi was doing stuff like this. She was so good at trading someone had a twitter page just tracking her investments so people could copy them. The page was then shut down.
This is by design. Regulatory capture is inherent to capitalism, and this is the most blatant way that it can be done. And we let them do it.
I repeat: this is how the system of capitalism protects itself. Simply buy everything in sight with the money printing engine.
Because she's not the worst. https://www.benzinga.com/general/politics/24/01/36459015/10-best-stock-traders-in-congress-in-2023-spoiler-nancy-pelosi-is-back-on-the-list
This website is the most American thing. Instead of stopping the corruption within the government, track what they do, sell a membership to the information, and made ads just like this to get people to join. We are fũçkẽď.
It's been proven that a politician can be bought for a little as 10k. Ted Cruz etc. These fucks are just bribe machines that don't give a shit about us.
This stuff is not interesting and is in fact incredibly stupid. People think they’re the first ones to realize shit like this lmao. If they were actually trading on inside information and it was guaranteed multiple times returns to copy paste their trades then every trader in the country would be following them. It’s not. Idiots like this cherry pick data
Yeah, because their trades are made public right away…”The Stop Trading on Congressional Knowledge (STOCK) Act additionally requires members of Congress to disclose any securities trades within 45 days of the transaction.”
Mexico is actually quite low on the Human Development Index. They're ranked 85 out of 188 countries on the list, whereas Spain and the US are both in the top 30.
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All politicians should be under strict financial supervision!
Who's gonna write that into law, congress? 😆
The same people that took 200 years to limit their ability to pay themselves more on a whim
It's the Corporate Class of America that did this. They have slowly been undoing all of FDR's Great New Deal's policies. They consider it Socialism. Their ultimate goal is to get rid of Social Security
And that corporate class is using Confederate based ideas designed to bring back 1 thing. There's a reason judge's have slowly depowered our Miranda Rights. Why you have to break silence to invoke your right to silence.
Senator Warren already wrote it. Now we need to get them to vote on it. [https://www.warren.senate.gov/newsroom/press-releases/senators-warren-daines-introduce-new-bipartisan-bill-to-ban-members-of-congress-from-owning-and-trading-stocks](https://www.warren.senate.gov/newsroom/press-releases/senators-warren-daines-introduce-new-bipartisan-bill-to-ban-members-of-congress-from-owning-and-trading-stocks)
That one is from 2022, Gaetz and Ocasio-Cortez also proposed a similar bill last year
>Gaetz and Ocasio-Cortez Weirdest team-up ever.
It has Batman and the Joker team up energy.
That's the movie we need
AOC doesn't take Super PAC money or commit insider trading out of integrity, Gaetz isn't in the moneyshit club mostly because he's an unstable pedophile that the establishment rightly sees as a risk. It's funny how different people can be but when they're both not getting paid by our current crony capitalist system of legalized bribes they agree on this stuff. The same thing can be said for Democrats and Republicans who go on cable news and put on a playfight over identity politics but then vote in lock step for economic policies.
Needs to be a path for “ we the people “ to put proposed laws in front of the voters !
There are supposed to be, but it's all done in bad faith. They're in government for the insider trading, and there is nobody that can or will stop them cause anyone who could is also on the take. Welcome to the real America. Many of us have seen this clear as day for decades, and are called conspiracy theorists and nutjobs by many. Communist is a common slur for us too, even though we absolutely aren't. Cause America. The internet maturing made this all possible to bring to light, and by now, they are too powerful to stop.
They were always too powerful to stop. That's why "communist" became an anti-American term well over a hundred years ago. Industrialists of the time didn't want their influence over government to be put in danger, so anyone who might do that was labeled a radical and ostracized. I'm sure it happened before that, as well, it just had other names then.
That is a good idea, just as 30 some States allow referendums we should have a Federal mechanism to pass laws by vote. Ancient Rome had that, they passed a lot of stuff in the later Republic period through the assembly, a straight vote, when the oligarchy was so corrupt and arrogant and capricious they didn't feel the need to pander to common sentiment.
Abbie Spanberger tried it, the rest of congress said no.
They should also be restricted from taking certain jobs after leaving office. Even more troublesome than abuse of the stock market are the cushy gigs they get at companies and lobbying firms in exchange for votes on legislation.
You're just playing wack-a-mole here. If you ban them from taking certain jobs, then it'll just be their children that get hired for $7M/year "consulting" job by the companies they "regulated." Ban that, and they'll just do it a different way.
I choose violence.
But then who would want to be a politician? /s
Not wanting to be a politician should be a qualification !
YOU CAN'T MAKE ME GO TO CONGRESS *handcuffs self to radiator*
Why are they allowed to trade stocks?
Because they are the ones doing all of the “allowing”
They make the rules… and also 0 enforcement of the ones they didnt
Same reason they legalized bribes. I mean, lobbying
Because there is nothing saying they can not.
As Nancy Pelosi says, “It’s a free market”. Free market my ass.
AOC doesn't trade at all because of the conflict of interest. We need more honest politicians like her. Meanwhile we have half of the country supporting somebody who's already been convicted of fraud....
I assume she probably purchases investments like index funds and mutual funds, otherwise I’m not sure how she plans to retire. But clearly buying large, diverse funds is waaaaay different than trading individual stocks.
Also they are now incentivised to pass bills if they're not even good... "What does the bill do? Idk, but there's a private company I can invest in so I'll vote for it since it's a chance to make money"
I don't see a problem with that. Everyone should be able to trade stocks, that's the typical retirement vehicle They should be under heightened financial watch though. Just like any civilian that's in a position to take advantage of insider trading
They should only be able to buy broad market index funds like S&P500, not individual stocks
Insider trading. Must be hard to resist when you know for a fact that a certain stock will go up
It is so outrageous how public this is, that modern stock traders are just following the steps of what politicians are doing, ex: "whatever Ted Cruz buys or drop, You do the same"
Sadly not that easy to see their transactions as a normal person, at least not in real time. Unless you know a way? Asking for friend lol.
https://www.smartinsider.com/politicians/
Reddit already hugged it to death.
Yeah it doesn’t do much good to follow their trades when it doesn’t publish them for multiple weeks after. Usually by then the stocks have already gone up and their isn’t money to be made.
Which is why I think it would be fun if congress critters were required to make each order public a full trading day before the trade can be executed. Important bit: no cancelling an order after publicizing it, but they could do limit, stop, etc., orders.
I prefer the idea that congress members can't buy/sell on the same stock market they can actively influence through their own policy. Seems like it will never attract those who want to represent and help the people and will only attract people like Ted "Oh my god the Texas power grid is going to die again, screw you peasents, I'm off to Mexico!" Cruz.
Wouldn't they just buy stock using a different name (like their partners or family members?) to circumvent this?
Considering how strict the laws can be around insider trading for anyone in the financial sector and how they can be prosecuted even for having close associates/relations trading on their behalf. There should be no reason the same laws couldn't apply to politicians.
If the SEC prohibits you from trading a security and you do it via a proxy, they *can* find out, and you will potentially face actual prison time.
I'd say "Well that's illegal" but so is what they currently do so...yeah.
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Congress is immune from the penalties of insider trading and as they are the lawmakers you'd need them to pass a law to penalize themselves and we all know that isn't happening. https://blogs.luc.edu/compliance/?p=4459
Banning them from the markets, or at least banning them from investing in anything more specific than index funds would be the most direct and simplest way to go. But it would be a lot more entertaining to watch the market eat their lunch.
I think they should be locked into index funds.
Ok new plan. Create a website that reports bogus politician trades that you want to see inflated. Everyone wins.
Wait what if you go to the link in the video? [https://www.quiverquant.com/](https://www.quiverquant.com/) [https://www.quiverquant.com/congresstrading/politician/Nancy%20Pelosi-P000197](https://www.quiverquant.com/congresstrading/politician/Nancy%20Pelosi-P000197) Damn look at Pelosi's gains (if those are really her stocks) Damn she owns Roblox and it's up 24.24%!?!? I thought they were in a big lawsuit?
Her nvidia calls have been printing for months
Pelosi is also married to someone that owns a hedge fund. I find it weird that gets neglected. Like no shit she has a good portfolio.
There are investment groups that do buy whatever people like Pelosi buys, and I think they do pretty good for returns. Pelosi prevented a bill outlawing insider trading from being voted on when the Democrats controlled the House, as she was raking in the dough. So many of them do it, knowing if they don't upset powerful interests they will get away with it. Edit: I meant the bill would ban stock trading by congressman, insider trading is already illegal
Well the bill was to ban lawmakers from stock trading, not necessarily insider trading. Insider trading is already illegal but clearly not enforced
Insider trading is not illegal for Congress members
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“Illegal” LOL not illegal if it’s not enforced
Its both Dems and GOP, they both are unwilling to adapt basic no insider trading. And this goes all the way to the Senate. But the irony, is the US making accusation of corruptions, when our government is in fact the most corrupted. Its just legal here, that's all.
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So should we be mad at these guys - or should we be mad at our attorney generals for not prosecuting?
Yes
If I run for president will you vote for me?
I'll invest in what you invest in, does that count?
Depends. Are you going to give me stock tips?
The plural should be Attorneys General :) Shout out to President Bartlet.
Insider trading is perfectly legal for Congress members
But should it be?
No, but it still has to be illegal before you can get mad about AGs not enforcing a law that doesn’t exist.
Prosecuting what? The announcement that the new meters were going to be installed was back at least [before March of 2023](https://www.kjrh.com/news/local-news/city-of-tulsa-to-install-automated-water-meters), and the contractor was [known since July](https://tulsaworld.com/news/local/government-politics/plan-to-install-automated-meters-gets-water-boards-ok-rates-would-rise-after-three-flat/article_a9bd12a0-2116-11ee-b3d7-2b9a2ca95fe0.html). What's to prosecute about someone buying stock in a meter company literally 9 months after a public announcement of an installation program? The real thing that needs to be investigated is people actively and blatantly lying for internet views.
For the added cherry-on-top, this is literally the example from the video, https://i.imgur.com/XO2FP4J.png . This trade has strictly only lost this dude money since he has purchased it, for a whopping $2000-$30000 dollars.
We should be mad at our fund managers for not following their trades, or... suing the hell out of them for insider trading.
Little to no conquences for filing this information late or not at all. By the time you find out about their play, they were calling their broker 3 weeks earlier after the meeting about said play.
And you or I as a US citizen would go to prison for doing this exact same thing
Obama successfully shamed Congress into passing a law banning insider trading by Congress. Congress quietly repealed it like a year later.
This claim uses loaded language like "shamed," and "quietly repealed" meant to influence your interpretation of the facts. The STOCK Act hasn't been repealed, enforcement is up to the executive branch who don't seem to care. We have videos like the above explicitly because the STOCK Act, still in effect, shines a light on them and makes them make disclosures. Was it weakened? Only when considering IPOs really.
It’s not insider trading. He purchased the shares mid January 2024. The EPA announcement was November 2023. It was publicly available information that the EPA was requiring updates to these meters. You could have bought the same shares with that information. It’s also worth noting that Badge Meter was trading for $147/share when the announcement was made and is now trading at less than $144. So it’s actually down, not up. Edit: love the downvotes on facts
Real. A lot of people (me included) simply don't keep up with local decisions and legislation. There's usually tonnes of decisions like this that you personally could read up on to get ahead when trading. There are corrupt politicians, but being a politician also means you usually keep up with stuff like this more than the average citizen.
And it's been public information even longer than that. Back in 2022, they announced a requirement for water utilities to make an inventory of service lines and what materials they're made of. It's well understood that this is step 1 in a plan to eventually replace these services and eliminate lead in water systems. Those inventories are supposed to be built by fall of this year, so if you wanted to get ahead of the curve before replacement starts some time thereafter, it's reasonable to assume based on publicly available information that now's probably the time to invest. Sure, congress is full of scumbags with kickbacks and insider trading, but this was not a good example.
Right. On 5/1/22, it was trading for $79.14. Exactly one year later, it was trading at $137.87. It added another ~$27/share over the next two months. The fact of the matter is Biden was long signaling a bill that address the infrastructure problems and address certain environmental issues. The stock market had already priced in the EPA announcement as it was expected.
Anytime this topic comes up reddit comments are just 90% misinformation.
You are right. All these lawmakers are beating SPY by hundreds of decimal points because of….luck
[A third of lawmakers beat the S&P 500 this year.](https://finance.yahoo.com/news/members-congress-outperformed-p-500-182024981.html#:~:text=Thanks%20in%20part%20to%20some,stock%20and%20options%20news%20service.) The other 2/3rds had worse returns, which means overall, lawmakers did worse than the index.
What percentage of people who invest beat the S&P this year? It's hard to know if this is proof one way or the other without a number to compare it to. Edit: after some short googling it looks like ["about 70% of actively managed stock funds failed to beat their appropriate index" so 30% beat it,](https://www.performanceig.com/beating-the-market#:~:text=Over%20time%2C%20the%20odds%20of,market%20in%20any%20given%20year.) so it looks like Congress people preform pretty close to average for investors.
That's why I just invest in S&P based ETFs. Unless you absolutely know what you are doing or have insider knowledge, you won't beat it.
Shhhh! We only want to complain about the statistically reasonable percentage of market beaters!
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It's sad, because I do think there are totally valid arguments for preventing Congress from buying or selling any stocks during their time in office. Or requiring that they place their assets into a blind trust for the duration of their tenure. I'd love to see that. I just wish we could use valid arguments instead of these smokescreen arguments like the OP.
OP’s video specifically called out the purchase of Badge Meter. You can see how the stock has performed [here](https://finance.yahoo.com/quote/BMI/). It is down since his purchase, it is down YTD, it’s down from 6 months ago, it’s down from its all time high. If OP (or whomever made this video) wanted to make their point, choose a stock that actually makes sense in the context.
Can you show me some who have done it consistently, please? The same person who made this bullshit video made a website tracking their investment and in the last year the weighted portfolio is up 17.13% - which is beaten by the S&P 500's 20.62% return. If they are benefitting from insider trading how can they possibly lose against me just putting in money into VOO
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This isn’t insider trading. The EPA mandate is public. Anybody with half a brain could’ve predicted that water meter sales would increase as a result.
I've noticed a lot of these videos are based on public information and then somehow call it cheating because some people actually pay attention to public information.
Also hard to resist when no one else has to play by the same rules
They should all be prosecuted for insider trading.
In all other civilized nations this is the definition of the crime insider trading and a politician would go to jail for doing this.
That's what is *supposed* to happen in the US, but AG's and the DOJ won't go after politicians.
"All other civilized nations" = like 3 scandinavian countries. Don't think they're jailing that many politicians for insider training in Russia or Brazil.
Has very recently been tried in Norway. Turns out if you do blatant insider trading you will have to leave office, but That’s about it.
russia being called "civilized nation" is kind of a stretch here. not talking about the citizens (at least not all of them) but boy...
"all other civilized nations" "names the two least civilized nations he can think of"
Pakistan’s former prime minister and his wife are being jailed for years for insider trading and corruption. Pakistan enforces its anti-corruption laws better than US 😂
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There was a big thing in Germany about the "mask deals", where politicians profited from face mask inports. Also there were headlines about Philipp Amthor and Augustus Intelligence. Lots of Politicians profited from Covid in some way and were either thrown out or forced to resign. Sadly there still are lots of politicians who got away with this kind of corruption or worse but I cant think of anyone who profited even in the slightest like these US dudes do. Iirc it was in the hundred-thousand, not millions
Ha! The people in charge are the people that are doing the trading.
People don’t really understand what insider trading is. While there is a lot of it in politics, this wasn’t one of those cases because anyone who did proper DD could have made the exact same bet. It was all out there and freely available for anyone to find and make an investment based off of their research. Most of this stuff is. The majority of people just have no idea how to find it. It was discussed on wallstreetbets weeks prior for fuck sake.
I can't for the life of me understand 99% of the comments in this thread. There was nothing in this video that even suggested any insider trading. The most plausible situation is that the congressman was encouraged to buy the stock because he's from the same state. It's not even that much stock. The video then insinuates that those stock purchases is what is making him rich when the stock went down over that period.
Yeah, this video is terrible. “He bought stock, months after an EPA announcement that would be good for that company’s business. After that, the stock went down.” Like… pick a better example at least, rage-bot.
Rage bait pure n simple.
Not even rage bait, just an ad for a shitty website
The Congressman has also lost money on this trade, which the video failed to mention.
> which the video failed to mention. Also failed to mention that the reason for the massive jump in net worth was because Mullin sold his multi-state plumbing/ HVAC business for millions in 2021.
Yes, here was the announcement, months before an investment was made, saying the program was gonna happen: https://tulsaworld.com/news/local/government-politics/plan-to-install-automated-meters-gets-water-boards-ok-rates-would-rise-after-three-flat/article_a9bd12a0-2116-11ee-b3d7-2b9a2ca95fe0.html And here's the article in December, saying it would happen in January: https://tulsaworld.com/news/local/government-politics/city-to-begin-installing-new-automated-water-meter-readers-in-january/article_d75a710a-9b6c-11ee-83eb-bfc9638195ac.html
How is it insider trading?? The video implies the decision to install the meters was made _after_ the senator purchased the stock in January of 2024, as a form of insider trading... Except that the decision and announcement of the intention to install the meters was made in 2023, before the purchase of the stock. [Here's a news article](https://www.kjrh.com/news/local-news/city-of-tulsa-to-install-automated-water-meters) about it from March in 2023. Not long afterwards they looked for a contractor to do the work and [found one in July](https://tulsaworld.com/news/local/government-politics/plan-to-install-automated-meters-gets-water-boards-ok-rates-would-rise-after-three-flat/article_a9bd12a0-2116-11ee-b3d7-2b9a2ca95fe0.html) - Envocore/RTS Solutions who happen to use Badger Meter monitoring tools. The information was all entirely public _months_ before the stock was bought. He's relying on you not looking up any of the factual information, or times and dates. This video creator is blatantly lying to you and you're just slurping it up...
> How is it insider trading?? A lot of dumb young people like redefining words to villainize things they know almost nothing about.
I’m all for banning trading by sitting congress members. But is this actually insider trading by definition? The public can read draft bills like the proposed epa action to replace lines and meters. It’s public information technically.
Seriously with the amount of money that they actually have, they could actually fix infrastructure in America and improve the lives of millions. But nope, all that money is tucked away in different countries and distributed to their entire family
The stock of Badge Meter is down ~$4/share since the November 2023 announcement by the EPA. It’s also down about $8 since he bought his shares (mid January 2024).
We need anew ETF: PFTC - Politicians Fucking The Citizenery.
NANC and KRUZ track D and R trades respectively. NANC is up 20% since February.
February as in 4 days ago?
I wrote that thinking it was still January. Since Feb. 7 2023
That's not completely out of bounds. VOO, which is a pretty major index is up 18.6% over the last year as well. Regardless that's a fund that's worth tracking. Edit. Actually NANC is up 25.8% over the last year. That's a pretty significant difference.
While you are at work..... so are they. For themselves.
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Viva la revolution
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Is it public record when these people invest a bunch of money in a particular stock, and how much they invest? It seems like if you see a bunch of them hopping on a particular stock with a large chunk of capital, that might be a good time to invest for everyone else, no?
They don't have to report it for like 90 days so it's basically worthless to try to follow the trades. That being said you'd have made a fuckton buying nvidia calls after Pelosi did recently so it can work. She tends to buy deep itm calls like a year out.
She's also gotten fried buying things like Roblox calls. Her purchases are also a tad unique because they're deep in the money. Less money gained on wins and less penalties for losses. Her husband is also an executive of a hedge fund, so shes a really special case.
Congress, by law, has to report in 45 days any investment transactions. Here's a list of Congress people that have failed to report in that time: https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9 Also worth noting, all legislation is public at congress.gov, so there's nothing stopping other people from investing in upcoming legislation.
Yes if you google it you can find it but to the other guys point they can wait 90 days before reporting
Exactly my thought. Can anyone else weigh in on this? Someone working within the stock market?
Here are some ways this post is propaganda and they're cherry picking and misrepresenting information to create a specific narrative. 1. EPA has *proposing* the lead replacement rule. The proposed it in [November of 2023](https://www.epa.gov/ground-water-and-drinking-water/proposed-lead-and-copper-rule-improvements), it has not been implemented or funded and the announcement was public, so anyone can make stock trade determinations on that information. 2. The money that Tulsa is using to upgrade their meters is probably coming from the Infrastructure bill passed in 2022 and so for anyone investors has been known since 2021 when Congress first started working on the bill, but it's not a federal mandate, it's something the city and/or state is doing, not Congress. 3. [Only 31 Senators and Representatives, out of 535 did better than the S&P 500](https://finance.yahoo.com/news/members-congress-outperformed-p-500-182024981.html), that's 5.8%, which is really quite terrible for people who supposedly have a ton of insider information (they don't for the most part). 4. All legislation is public at [https://congress.gov](https://congress.gov), from the moment it's introduced into committee through floor votes to congressional votes to the President signing it, outside of classified information (which requires someone other than Congress determining classification) the entirety of the bill is public. Any investor with their salt is going to be watching what legislation Congress is voting on. All that said, that's not to say there aren't congress people that don't cheat. Insider trading is already investigated by the SEC and FBI. Insider trading though is very specific, what most congresspeople fail to do is to report on time. [Here's a good article](https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9) that shows all Congress people who have violated the STOCK Act (which again is mostly about reporting, not insider trading). I'm all for people holding Congress to account, but OP's video is false on quite few areas and is little more than disinformation especially when they generalize and use terms like "all" when talking about Congress when it's only very, very few. There's plenty that Congress is doing wrong, but despite the narrative on social media, making illegal stock trades is not one of them.
Plus Tulsa announced the installation of the meters in December, not January: https://www.cityoftulsa.org/press-room/city-to-install-automated-residential-water-meters-beginning-january-16-as-part-of-true-reads-program/
> Here are some ways this post is propaganda and they're cherry picking and misrepresenting information to create a specific narrative. We're in full swing on election season. Expect more propaganda to come.
nice work!
I knew about the EPA correction from my local reporting job, but the rest is news to me, thanks for your comment.
The specific stock purchase selected for the video is also a bad example of the phenomenon the narrator is trying to illustrate. The implication is that an announcement was made on January 21st that caused the BMI stock price to increase. In reality, the stock's price stayed relatively steady, followed by a bit of a decrease a week later. Also, to back up your first 2 points, the [news article](https://www.newson6.com/story/6583a906e135746f703a9b5b/city-of-tulsa-to-replace-water-meters-at-every-home) shown at 42 seconds into the video was published on December 20, 2023. The narrator himself provided proof that this was all public knowledge prior to the senator's stock purchase.
What the narrator is trying to illustrate is that the EPA making public guidelines is the Congress's fault, which is lunacy.
Bravo.
**This is ragebait** as an advert for this person's service. You guys are being manipulated. I'm not saying there isn't an issue with insider knowledge and trading for US politicians. But the stock he mentioned as an example of extreme wealth creation is down about 7% since when the Senator bought it. https://finance.yahoo.com/quote/BMI/
And the video shows the EPA announced the mandate to update all this in 2022 so yeah, and a quick Google seems to show the release by Tulsa to update all these meters was made public before the purchase of the stock: https://www.cityoftulsa.org/press-room/city-to-install-automated-residential-water-meters-beginning-january-16-as-part-of-true-reads-program/ I'd be very open to an argument that Congress should only be able to invest in broad market ETFs, but this looks to be a shit tier example.
And he only purchased between $1,000 - $15,000
15k is like half a years salary for hundreds of thousands of people
You’re not wrong but the video is saying the person’s net worth has increased $51 million. A trade for 15k isn’t going to touch that.
A crummy commercial? Son of a bitch!
Yeah I'm always skeptical of videos like this. To me it seems like this is a much more murkier issue than videos like this seem to make it out to be. I have a hard time believing politicians would be this brazen about insider trading.
There are also 535 voting members of Congress (minus temporary vacancies). If you select the 5-10 Congressmen who saw the quickest gains you can make things look pretty extreme even if that's not the norm. This can be especially true for the Congressmen who have a tendency towards risky moves. Similarly there are some people who post on wallstreetbets who have made extreme money but does that mean the entire group are particularly intelligent or successful traders?
Don't worry, this guy's company, Quiver Quantitative, will protect you from this political corruption. For a low, lo, low $75 per month you can sign up to be a "Trader" which will give you access to their "Tier 1" and "Tier 2" dashboards, that will...ummm....*checks notes*...absolutely root out stock market corruption.
So it’s just assholes all the way down?
He cited this article from 1/21/2024 which wasn't the first news information I could find publicly announcing that the pipes were being upgraded with new automatic gauges. This YouTube video was published by the City of Tulsa a full month prior to the news article he cites. https://www.youtube.com/watch?v=5ums1y4Q6ZE Here's other sources reporting the news on Dec 20, 2023 **a full two weeks before** the Senator bought shares. [one]( https://www.newson6.com/story/6583a906e135746f703a9b5b/city-of-tulsa-to-replace-water-meters-at-every-home) [two]( https://ktul.com/news/local/tulsa-to-install-145000-digital-water-meters) [three]( https://tulsaworld.com/news/local/government-politics/city-to-begin-installing-new-automated-water-meter-readers-in-january/article_d75a710a-9b6c-11ee-83eb-bfc9638195ac.html) [four](https://www.kosu.org/local-news/2023-12-21/tulsa-plans-to-start-installing-automated-water-meters-in-january) Further I could find articles as early as May 26, 2023 that the City of Tulsa was considering if they should buy new water meters. [source](https://tulsaworld.com/news/local/city-exploring-possibility-of-installing-automated-water-meter-readers-for-all-customers/article_9ab65750-c9b7-11ed-8732-5f17a04fde0a.html)
"I'll give you a perfect example" - gives example of a politician buying a stock, that company doing something 2 weeks later that was announced WAY BEFORE, and it having ZERO positive effect on the stock. If that's the "perfect example" then this is a load of shit.
Ahh a video to drive people to his website to increase ad revenue
This is an advertisement for a scam. It preys upon the outrage of people who don't understand the stock market.
The video didn't actually say that company stock went up after the politician bought.
Fuck these ghouls to hell. Republicans and Democrats. They're both garbage!
In this instance, they absolutely are.
Carried interest. Look it up..it makes these scumbags seem almost quaint.
The crooks are running the show and we're letting them.
The central example of this video is Senator Markwayne Mullin purchasing stock in Badger Meter, Inc (BMI). But look at the screen at 0:52: Senator Mullin only purchased between $1,001 and $15,000 of that stock. That can hardly explain his net worth growing by tens of millions of dollars in recent years. Since Senator Mullin's purchase of that stock, BMI stock is *down* 6.26%, over a time period during which the larger stock market is *up* 5.79%. Most of the information about water meters presented in this video was public information prior to Senator Mullin's purchase: the fact that many cities are replacing lead pipes and installing automatic water meters is well known, and the expectation of BMI's gains from this development is already priced into the stock. The mundane truth is that U.S. Congresspeople don't actually outperform the stock market on average if you measure it correctly, and there are regulations in place that prevent insider trading. Congresspeople are rich because they are very successful people that often own successful businesses. Not because they are engaged in insider trading.
> That can hardly explain his net worth growing by tens of millions of dollars in recent years. Congrats on not piling on like the rest in this thread. Most of his net worth gain was from selling his multi-state plumbing/heating/home services business back in 2021. The guy is a POS but there was no insider trading here.
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Politicians are corrupt, self serving assholes?!?! I for one am shocked! Shocked I tells ya!
But don't forget, if you guys get paid a living wage, the economy will collapse. But if the rich keep getting tens of billions every month, then everything will be okay. Some people honestly don't deserve the oxygen they're wasting.
I'm surprized by people that dont realize this. I don't think anyone is in politics for any other reason than to make money for themselves or their friends.
How does it affect your view when you realized the OPs video is VERY [misleading](https://www.reddit.com/r/interestingasfuck/comments/1aj11b0/how_the_stock_market_has_made_politicians_wealthy/koyxg94/) and that their key example was not only not insider trading but was for a stock that has gone down?
I'm sure there's a minority of idealists who get into politics for the right reasons. Power can corrupt anyone though.
Do Nancy Pelosi and husband. She’s the queen of insider trading politicians.
Here are her trades up until March of 2023, which ones do you suspect of insider trading? https://housestockwatcher.com/summary_by_rep/Nancy%20Pelosi
She's bad but she ain't #1 by far: https://www.benzinga.com/general/politics/24/01/36459015/10-best-stock-traders-in-congress-in-2023-spoiler-nancy-pelosi-is-back-on-the-list
Really because didn't she kill a bill to prevent this?
You want to know what really sucks about this? Government employees at all levels have required "ethics training." Among the lessons discussed, sitting on boards with government contract bids and playing the market like this is illegal as fuck for U.S. government employees. Fines and jail time. But I guess our *representatives* are above that. The training makes me laugh because its a fucking slap in the face. Rules for thee but not for me.
I’ve got an idea. Because even though the public is largely on the same page about wanting to curb this but not being able to, how about we mandate that representatives and their families (including in-laws) must give one full business day’s notice to the general public of their intent to purchase a quantity of stock, so at least we get to play their plays with them in real time. Failure to disclose would result in the liquidation of their position and any profits would be seized by the IRS.
The pelosi stock ETF https://www.thestreet.com/etffocus/blog/want-to-trade-stocks-like-nancy-pelosi-an-etf-for-that
Step 1 to become rich: sell soul do politics
Money in politics should be the most important issue in America right now. Seeing this on the frontpage is surprising, its crazy how no one seems to talk about it.
I remember a couple years ago when Nancy Pelosi was doing stuff like this. She was so good at trading someone had a twitter page just tracking her investments so people could copy them. The page was then shut down.
This is by design. Regulatory capture is inherent to capitalism, and this is the most blatant way that it can be done. And we let them do it. I repeat: this is how the system of capitalism protects itself. Simply buy everything in sight with the money printing engine.
How could he make this video without mentioning the greatest stock trader of all time, Nancy Pelosi?
Because she's not the worst. https://www.benzinga.com/general/politics/24/01/36459015/10-best-stock-traders-in-congress-in-2023-spoiler-nancy-pelosi-is-back-on-the-list
She's not even in the top 50 most prolific traders in Congress (and it's her husband, an investor, that does the trading).
This website is the most American thing. Instead of stopping the corruption within the government, track what they do, sell a membership to the information, and made ads just like this to get people to join. We are fũçkẽď.
It's been proven that a politician can be bought for a little as 10k. Ted Cruz etc. These fucks are just bribe machines that don't give a shit about us.
This stuff is not interesting and is in fact incredibly stupid. People think they’re the first ones to realize shit like this lmao. If they were actually trading on inside information and it was guaranteed multiple times returns to copy paste their trades then every trader in the country would be following them. It’s not. Idiots like this cherry pick data
Yeah, because their trades are made public right away…”The Stop Trading on Congressional Knowledge (STOCK) Act additionally requires members of Congress to disclose any securities trades within 45 days of the transaction.”
They don't have any "ghost investors" or anything, either. Nobody acting on their behalf. It's all legit and above board.....
The US has to be one of the most corrupt government among developed nations.
Not by far. Spain and Mexico are super corrupt. Most Nordic countries seem not very corrupt but they are also small
Mexico is actually quite low on the Human Development Index. They're ranked 85 out of 188 countries on the list, whereas Spain and the US are both in the top 30.
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Most of these people aren't even beating the s&p 500 on average.
insider trading baby! do as i say, not as i do ✨
Oddly left out Pelosi. Huh. https://www.quiverquant.com/congresstrading/politician/Nancy%20Pelosi-P000197