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Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

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Re: Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

#11

Post by rkk3 »

alisonkisk wrote: post #3
fny wrote: post #2

Pelosi also owns somewhere between $5M-$25M of Apple stock. You'd think some notion of recusal would exist in the legislative process... https://www.opensecrets.org/personal-finances/nancy-pelosi/a...

"Warren re-ups bill to ban stock trading by lawmakers" https://www.politico.com/amp/news/2020/12/18/elizabeth-warre... Ultimately the voters of her district have to care.

Barring lawmakers from investing in equities seems like it would be another barrier for non-wealthy people to be politicians.

EDIT: Why the downvotes? Middle class people use the stock market for their retirement funds. If you take away this ability or you take away the salary of lawmakers, you are restricting it to people who are already affluent.

Re: Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

#12

Post by d33lio »

alisonkisk wrote: post #3
fny wrote: post #2

Pelosi also owns somewhere between $5M-$25M of Apple stock. You'd think some notion of recusal would exist in the legislative process... https://www.opensecrets.org/personal-finances/nancy-pelosi/a...

"Warren re-ups bill to ban stock trading by lawmakers" https://www.politico.com/amp/news/2020/12/18/elizabeth-warre... Ultimately the voters of her district have to care.

Initially mis-read this (thanks dyslexia) as "warren rips up bill to ban stock trading by lawmakers" haha (clearly I was thinking of Pelosi)

Re: Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

#13

Post by Barrin92 »

kats wrote: post #7
fny wrote: post #2

Pelosi also owns somewhere between $5M-$25M of Apple stock. You'd think some notion of recusal would exist in the legislative process... https://www.opensecrets.org/personal-finances/nancy-pelosi/a...

I mean, she has 33 yoe in congress and only gets paid 225k salary, she better have stocks.

>only gets paid 225k salary

That is six times the American median wage, or alternatively it places you in the top 3% of the American income distribution. Is this a bad attempt at sarcasm? That salary, plus I assume a generous pension is enough for her to not own any stocks, which I actually think is something that should be the norm for political representatives, given the blatant conflict of interest.

Re: Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

#14

Post by x0x0 »

Barrin92 wrote: post #13
kats wrote: post #7

Earlier quoted context omitted.

I mean, she has 33 yoe in congress and only gets paid 225k salary, she better have stocks.

>only gets paid 225k salary That is six times the American median wage, or alternatively it places you in the top 3% of the American income distribution. Is this a bad attempt at sarcasm? That salary, plus I assume a generous pension is enough for her to not own any stocks, which I actually think is something that should be the norm for political representatives, given the blatant conflict of interest.

Pelosi doesn't get paid enough. She's one of the leaders of a country with a $23T economy and a $4.8T federal budget. She maintains houses in two different (very) high COL areas, and has a punishing work and travel schedule.

We'd be shocked at an exec in a round C company, helping lead 100+ people, who didn't make more than that.

Re: Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

#15

Post by parineum »

alisonkisk wrote: post #3
fny wrote: post #2

Pelosi also owns somewhere between $5M-$25M of Apple stock. You'd think some notion of recusal would exist in the legislative process... https://www.opensecrets.org/personal-finances/nancy-pelosi/a...

"Warren re-ups bill to ban stock trading by lawmakers" https://www.politico.com/amp/news/2020/12/18/elizabeth-warre... Ultimately the voters of her district have to care.

>Ultimately the voters of her district have to care.

Pelosi's district interest is against action against those companies.

In this case, she's doing exactly as she's elected to do.

Re: Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

#16

Post by cdot2 »

x0x0 wrote: post #14
Barrin92 wrote: post #13

Earlier quoted context omitted.

>only gets paid 225k salary That is six times the American median wage, or alternatively it places you in the top 3% of the American income distribution. Is this a bad attempt at sarcasm? That salary, plus I assume a generous pension is enough for her to not own any stocks, which I actually think is something that should be the norm for political representatives, given the blatant conflict of interest.

Pelosi doesn't get paid enough. She's one of the leaders of a country with a $23T economy and a $4.8T federal budget. She maintains houses in two different (very) high COL areas, and has a punishing work and travel schedule. We'd be shocked at an exec in a round C company, helping lead 100+ people, who didn't make more than that.

Pelosi doesn't get paid enough is a surface of the sun level hot take.

Re: Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

#17

Post by tfehring »

fny wrote: post #2

Pelosi also owns somewhere between $5M-$25M of Apple stock. You'd think some notion of recusal would exist in the legislative process... https://www.opensecrets.org/personal-finances/nancy-pelosi/a...

For reference, Wikipedia lists her net worth at ~$115 million (as of 2018, likely higher now). It looks like ~$20 million of that is real estate but if she just put the rest in the S&P 500 that would give her over $5 million worth of AAPL.

Re: Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

#19

Post by solveit »

Barrin92 wrote: post #13
kats wrote: post #7

Earlier quoted context omitted.

I mean, she has 33 yoe in congress and only gets paid 225k salary, she better have stocks.

>only gets paid 225k salary That is six times the American median wage, or alternatively it places you in the top 3% of the American income distribution. Is this a bad attempt at sarcasm? That salary, plus I assume a generous pension is enough for her to not own any stocks, which I actually think is something that should be the norm for political representatives, given the blatant conflict of interest.

> top 3% of the American income distribution

Pelosi has a good claim to being the most powerful woman in the US, and she makes less than a twentysomething hotshot engineer/banker/consultant/whatever. Any system that actually cared about her not being tempted by conflicts of interest would pay her two more zeroes.

You can of course ask why 225k isn't enough, and you can moralise all you want about how 225k should be more than enough, but going against a part of human nature as fundamental as the instinct to compare one with one's peers will just not succeed.

Re: Tim Cook called Pelosi to warn her against disrupting the iPhone with antitrust

#20

Post by [deleted] »

cdot2 wrote: post #16
x0x0 wrote: post #14

Earlier quoted context omitted.

Pelosi doesn't get paid enough. She's one of the leaders of a country with a $23T economy and a $4.8T federal budget. She maintains houses in two different (very) high COL areas, and has a punishing work and travel schedule. We'd be shocked at an exec in a round C company, helping lead 100+ people, who didn't make more than that.

Pelosi doesn't get paid enough is a surface of the sun level hot take.

[deleted]
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