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Fed to ban policymakers from owning individual stocks

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Re: Fed to ban policymakers from owning individual stocks

#231
post #99

I'm not sure banning is the answer. I think a better solution in general would be for officials to have to report all trades in real time.

I would like to see them required to give 24 hours notice of any trades. If a few members of the armed services committee want to sell Boeing stock tomorrow, fine, but the market can decide what that means first.

Re: Fed to ban policymakers from owning individual stocks

#232

Earlier quoted context omitted.

> Most everybody. It depends what you mean, but I think you underestimate people. We all contain virtue and greed, and have the free will to choose which we will favor. Of course, it's more complicated than that anyway: What happens is that some kinds of corruption become normalized and thus people don't feel they are violating ethics, and some corruption, though objectively no worse, is not normalized and is respond…

I agree that a culture of non-corruption needs to be created, and that culture flows down from the top. Caltech did a good job of that with the Honor System. The Tour de France did a miserable job, as competitors feel they have to cheat in order to have a chance. It's still not a good idea to tempt people too much, and any system should be set up to not be too tempting.

'Locks keep honest people honest.'
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