11–20 of 493 posts
Where are they aggregating all this insider data from? Is there an index of stocks being traded by government insiders and officials that can be tracked in real-time?
Real time? No. The legislators have to report their trades a couple months after they make them, IIRC.
The very people whose job it should be to stop this sort of thing are the ones who are profiting from it. How do you change this? No really, how can we force congress to change the rules so that elected officials can't profit from inside information? Why would they ever vote for such a bill?
Constitutional amendment?
> An amendment may be proposed and sent to the states for ratification by either:
> The U.S. Congress, whenever a two-thirds majority in both the Senate and the House of Representatives deem it necessary; or
> A national convention, called by Congress for this purpose, on the application of the legislatures of two-thirds of the states (34 since 1959). The convention option has never been used.
https://en.m.wikipedia.org/wiki/List_of_amendments_to_the_Un...
The very people whose job it should be to stop this sort of thing are the ones who are profiting from it. How do you change this? No really, how can we force congress to change the rules so that elected officials can't profit from inside information? Why would they ever vote for such a bill?
Where are they aggregating all this insider data from? Is there an index of stocks being traded by government insiders and officials that can be tracked in real-time?
Real time? No. The legislators have to report their trades a couple months after they make them, IIRC.
> 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 of $250,000 - $5,000,000, which is incredible size given the amount of $MSFT shares he owns. For ex, on 02-12 he sold 500k $MSFT $160 strike expiring 06/18/2021. On that same day, he bought deep ITM calls of $1M-5M at $145 expiring 03/19/2021. The whale caught both of his movements as well.
This is fucking unreal.
The very people whose job it should be to stop this sort of thing are the ones who are profiting from it. How do you change this? No really, how can we force congress to change the rules so that elected officials can't profit from inside information? Why would they ever vote for such a bill?
Earlier quoted context omitted.
Constitutional amendment?
And who would be voting on those? > An amendment may be proposed and sent to the states for ratification by either: > The U.S. Congress, whenever a two-thirds majority in both the Senate and the House of Representatives deem it necessary; or > A national convention, called by Congress for this purpose, on the application of the legislatures of two-thirds of the states (34 since 1959). The convention option has never…
The very people whose job it should be to stop this sort of thing are the ones who are profiting from it. How do you change this? No really, how can we force congress to change the rules so that elected officials can't profit from inside information? Why would they ever vote for such a bill?
The very people whose job it should be to stop this sort of thing are the ones who are profiting from it. How do you change this? No really, how can we force congress to change the rules so that elected officials can't profit from inside information? Why would they ever vote for such a bill?
trying to stop the trades is the wrong fix. The right fix is remove their ability to affect markets. Getting to choose winners and losers will always create opportunity to abuse this privilege.