Pelosi's Stock Trades

@4d4m Said

Yesterday, 12/16/21, CNBC ran this story about Rep Nancy Pelosi (D-MD). She believes she should be able to trade stocks.

There have been reported "conflicts of interest" with Republican and Democratic Congress Members and their stock trades. The argument is because of their access to information not available to the general public they should not be allowed to trade stocks.

Proponents of the ban, mostly also Democrats, say Congress Members should be barred from trading stocks as it might affect their votes on issues. If a member held a large position in energy stocks they may be less likely to vote to impose restrictions, say environmental.

Pelosi says that Congress Members should be allowed to trade stocks like everyone else because it is part of having a free market economy. She makes the point that she has to report all her trades. If one believes that she is trading on insider information they could simply follow her trades with their own. She would be the new "Decision Moose."

What do the TSFers say about this?

@chaski Said

So a fairly standard procedure, if you are concerned about the potential conflicts of interest relative to your investments, is to invest "blindly"... that is, you get a company to handle your investments, but "you" never get the specifics... there is a "Chinese Wall" between you and you investment company/broker.


As to this statement Pelosi says that Congress Members should be allowed to trade stocks like everyone else because it is part of having a free market economy, f*** Pelosi (and the rest of them).

As long as they get to vote on their own pay raises they are not really part of the USA's "free market economy".

Dear Pelosi,



Signed,
Chaski

@4d4m Said

That's a good point, utilizing a brokerage that had control over one's account should eliminate that problem. Where did you get the little hand thingy from?

@4d4m Said

That's a good point, utilizing a brokerage that had control over one's account should eliminate that problem. Where did you get the little hand thingy from?

@mrmhead Said

Isn't that what trump claimed was OK. He had his kids manage his investments while in office.... kids he eventually wrapped into his administration

@4d4m Said

But could we say that Trump should have sold off his businesses to become president?

@4d4m Said

This is true, of our best three presidents two were lawyers and one a naval officer.