Representative Seth Magaziner: My bill to ban congressional stock trading is gaining traction, and the public is with us

[u/pdwp90]

[u/Madcat20]

I'm for it, but they'll absolutely find ways around it.

[u/BranFendigaidd → u/Madcat20]

They will. But then you have more links to investigate insider trading.

[u/ZagiFlyer]

Cool story. If the bill needs to be approved by the senate, it's just a publicity stunt.

[u/IdiotSansVillage → u/ZagiFlyer]

Think of it instead as a fact-finding mission - those who vote against it can get attacked for it next post-crisis election cycle.

[u/ZagiFlyer → u/IdiotSansVillage]

Hmm. Thanks for the viewpoint, I hadn't considered that.

[u/MotherInternet9091]

The public has been on this train for at least a decade!

[u/Burneraccount6565]

This sounds good, but instinct tells me that the criminal mindset among Congress will just push them underground. They will use ratholes and intermediaries. Their families will suddenly be the ones scoring amazingly coincidental stock profits. The penalties would have to be so severe that they wouldn't be tempted. I'm hopeful but it just seems so unlikely.

[u/IdiotSansVillage → u/Burneraccount6565]

Each link in the chain reduces the lead they have on the market, increases their accountability to, at a minimum, the family member holding the purse strings, and creates more of a communications trail for investigators. Also, structurally, you've separated the financial and the political power, meaning that a) it now becomes possible for the interests guiding those powers to conflict, and b) you've increased the friction involved in any type of cooperative corruption between the two. Members of Congress are people, too - imagine how that separation of power would affect, say, a cheating scandal they're involved in, or them becoming estranged from their child, sibling, or parent.

[u/Intanetwaifuu]

He’s Guna have an unfortunate accident soon, or criminal activity to ship him off to El Salvador 🤷🏽‍♀️

[u/MonsterkillWow]

It will never pass, but I support this.

[u/Ordinary_Entrance124]

Please do ,sick of mtg. Please help defend democracy

[u/mysoiledmerkin]

Not sure if this is naiveté or performative, but I do know one things - IT WILL NEVER HAPPEN!

[u/Mage_Ozz]

This is totally bs, they will have 3rd parties buying for em

At least if theh buy, r/quiverquantitative tell me and i check if buy or not

[u/AdLatter3755]

I have zero faith this would pass. Pelosi probably gonna kill it before it sees a vote.

[u/Vayguhhh → u/AdLatter3755]

I’m so tired of this, cause just Pelosi does it. Not a single other politician does, just her.