The only people who can stop politicians from being able to participate in the stock market is politicians and well…
Some of the founding fathers were even benefiting from stock and bond trading and selling.
That’s incorrect. The SEC is responsible for holding Congress accountable to the insider trading laws already in place. Congress is not exempt, nor are they charged with self-policing.
https://www.congressionalinstitute.org/2018/08/16/can-members-of-congress-engage-in-insider-trading/
My comment was meaning to say that the only people who can put laws in place to stop politicians from being able to participate in trading stocks are politicians.
Clearly the laws in place do not stop them currently.
I follow, but that’s not correct. The laws are already preventing them from insider trading. The SEC is not holding them accountable. More laws won’t change the lack of enforcement. Pressing the SEC to do their job is the solution.
For those of you in the US, the are a couple of funds which track politician’s holdings and invest/digest with them. NANC is the democrat tracking one and KRUZ is the republican tracking one.
This way, you too can stick your snout in the trough.
They were both started in Feb 2023. So there isn’t a long track record to go by.
In the last 12 months.
NANC has gained 40%.
KRUZ has gained 27%.
VTSAX has gained 33.8%. (Vanguard total stock index)
They both have expense ratios of 0.75%.
VTSAX is 0.04%.
So you loose nearly 1% each year in management fees. That’s a lot.
Visa has been under intense scrutiny since for at least several months. We wouldn’t up and sue Visa out of nowhere so you know Visa was being discussed for awhile. I’m curious how much of this was just paying attention, like with a surprisingly high number of “corrupt insider trades,” or if it’s actually corrupt.
The investigation was announced publicly a year ago.
And it should be noted that when he sold these shares, the share price was even lower than it is now after the lawsuit was announced and the stock dropped within the last few days.
I wish there was more push back for these ghouls enriching themselves like this.
Those ghouls are at it again. Though that implies it is anything other than business as usual.
