31–40 of 192 posts
Instead of fixating that Pelosi made more than others I think right question is, why someone who actually can impact stock options and also has information not available to the public is allowed to trade?
She does as well as Rentech’s Medallion fund. Looks like Warren Buffett has a competitor. Reminds me of Hillary Clinton’s remarkable skill trading cattle futures. I suppose great politicians must also be great at reading the market. Incredible talent.
Instead of fixating that Pelosi made more than others I think right question is, why someone who actually can impact stock options and also has information not available to the public is allowed to trade?
Pretty much none of the political/self-dealing/disqualified person financial laws apply to spouses. (This is distinct from private sector insider trading laws)
It's super easy, barely an inconvenience!
It takes money to get elected and stay elected, so rich people get elected. While they take advantage of their political power while elected to make money, they also make money after being elected as well, through speaking and other means. The whole point of this process is to make money. Again, American, we like money.
So if you don't like all this, you're a socialist and bad person. Shame on you for being so un-American. Instead get some money and join the party!
Sorry if this is a stupid question - I've only seen options as a compensation mechanism. Can you buy options on the open market just like shares? If not, how do politicians end up with options?
Sorry if this is a stupid question - I've only seen options as a compensation mechanism. Can you buy options on the open market just like shares? If not, how do politicians end up with options?
Sorry if this is a stupid question - I've only seen options as a compensation mechanism. Can you buy options on the open market just like shares? If not, how do politicians end up with options?
The options contract market is massive, in the public markets they are fungible and actively tradeable. In private equity markets they are mostly limited to compensation mechanisms.
Earlier quoted context omitted.
I've often wondered about this. It's mind boggling that this is allowed. A congressman can short oil stocks and the very next day propose a large tax on oil producers then promptly cash out, and be completely within the bounds of the law.
I don't think it's mindboggling at all. It makes perfect sense that lawmakers would not make laws that negatively affect lawmakers. I also think that the amount of nonpublic information that congresscritters have access to is substantially overblown. The fact that they can pass laws affecting the industries is a bigger lever, in my view.