How about we just line up every politician fucking KILL THEM ALL!
Unusual Stock Trading by Whales in US Congress
241–250 of 493 posts
Re: Unusual Stock Trading by Whales in US Congress
#242Pelosi is a FUCKING CUNT! FUCK THAT BITCH!
Re: Unusual Stock Trading by Whales in US Congress
#243Earlier quoted context omitted.
Whatever the behind-the-scenes truth, I think the appearance of conflicting interests is a problem regardless. For a lot of elected offices and high public service positions, I think their wealth should be put into a blind trust, one constrained by law to buy broad, boring things like index funds. That would surely be a problem for some individuals. But I don't think it's a systemic problem. We only need to find 0.00…
We only need to find 0.00013% of the US population Maybe we should use sortition then instead of elections? What could be more democratic than random average people (meeting some criteria) taking a turn at the wheel?
Hah, Philip K. Dick explored this a bit in "Solar Lottery." In the book it's a bit absurd, but still an interesting take on a "randomized" government.
Re: Unusual Stock Trading by Whales in US Congress
#244Earlier quoted context omitted.
> They realize they lost the other war long ago No, I vote ignorance. Most people don't even realize the current global political landscape is a battle of systems (E.g. Rules Based and China's Belt and Road Initiative). The idea that we're pawns doesn't cross most people's minds. Though I'd agree it may be willful ignorance as the truth not only hurts but is scary.
"The idea that we're pawns doesn't cross most people's minds." Maybe. The fact that two of us here are even discussing it is something. I know quite a few people who feel this way. But it does usually take at least the witnessing of a blatant violation.
I think for me it was just the shear lack of change no matter which politician was in office. From there I started looking for why.
At some point I also realized advertisements are purely bribes meant to shackle speech. Once I abandoned ad-funded media, my learning really took off.
Re: Unusual Stock Trading by Whales in US Congress
#245Earlier quoted context omitted.
Well, when the order of events is "A committee which Pelosi is member of is discussing the large contract on the VR helmets for the military — Pelosi's husband buys MSFT — The committee anounces that the contract goes to MSFT — MSFT stock rises", and the pattern keeps repeating, it is evidence, albeit circumstantial.
That seems like the definition of material, non-public information. In the past I don’t think Congress was bound to the same trading rules as the general public (blech), but last I checked, Mr. Pelosi is not in Congress.
Congress is bound by the same rules as the general public, they just aren't legally insiders.
Insider trading requires not only material, non-public but also some kind of duty of confidentiality to the company you are trading.
Congress doesn't have that type of relationship, so they are not insiders. Their spouses aren't either.
There are some additional rules that apply to people who gain knowledge in an official capacity[1], but these were enacted fairly recently and haven't been effective at keeping Congress from trading using the non-public information that they receive.
Re: Unusual Stock Trading by Whales in US Congress
#246Earlier quoted context omitted.
That’s not what the business insider linked in the tweet says. It says she described the White House plan as “insufficient” meaning there wasn’t enough stimulus in it. How can criticizing a bill for not having enough stimulus mean you are against stimulus? The House had passed the HEROES act for additional stimulus in May 2020. The Republican senate refused to even put it up for a vote. She was always for passing of…
> the HEROES act Does anyone else cringe at this American obsession with naming acts of congress so as to create "inspirational" acronyms?
Yeah, I think it's really weird. Maybe a way to help give the bills "spin" and gain support. Honestly, though, I think there are bigger things to worry about.
Re: Unusual Stock Trading by Whales in US Congress
#247> For example, Pelosi in Dec 22 was against more stimulus. Her husband buys deep ITM TSLA and AAPL calls that day. December 23rd, she is suddenly for stimulus again, with those same companies ralling 5%, giving her an instant +30 return. > Congressman Gottheimer is absolutely an incredible options trader. He’s been selling calls at peaks on $MSFT all 2021, & seemingly buying back the contracts on dips. This in blocks…
Oligarchy in the U.S. is giving my mother country (Nigeria) a run for its money.
Re: Unusual Stock Trading by Whales in US Congress
#248Earlier quoted context omitted.
Just require them to announce their trades publicly 24 hours in advance. And let them manage their own finances. All these shenanigan's would disappear.
Why not just prohibit members of Congress of owning stock? They are some of the most powerful people in the world. Why is it so much to ask that a Senator or especially Representative serving in the most powerful legislative body in the world just take a cash position for 2-6 years?
I oppose this idea simply because most people’s’ retirement is held in investments now; I even think that congressional pensions have been dialed way back IIRC. I much prefer the “notify publicly well in advance” approach.
Re: Unusual Stock Trading by Whales in US Congress
#249Only way to consistently outperform the market is lobbying, insider trading or fraud (see Madoff)
Re: Unusual Stock Trading by Whales in US Congress
#250Does anyone use this info for their own trading, particularly the $300 a year plan? You would figure if there's insider trading going on to be watched your performance copying their trades should be pretty good as well.