A bipartisan group of senators reached a deal Wednesday on legislation to ban stock trading by members of Congress, setting the bill up for action in the Senate later this month.
I’ll be shocked if this actually becomes law.
Being a congress member is about civil service, serving Americans. It’s not about self service or family service. They should put Americans before themselves. If they can’t do that, go work in the private sector.
Hmm. Is there any restriction on them providing information to someone else and having them trade? The article text doesn’t say so.
Penalties for violating the law would either be the monthly salary of a lawmaker or 10% of the value of each asset they buy or sell.
Because I’m sure no one would make more than that and just take the trade off. And then take credit for saving the tax payers money. That’s definitely not the kind of thing that would happen in the Congress I know.
if this law becomes a 10% levy on politicians trading stocks, ill take that as a win
People settling like this just empowers these people to continue grifting us. We shouldn’t be satisfied with the bare minimum.
“We have finally figured out a way to pass this law with a big enough loophole for us all to continue to partake in all of the insider trading we want through other family members or our bagmen. I mean lawyers.”
Honestly though, Merkley on board is actually a great sign in my opinion.
Meh I lost some respect for Merkley when he did his publicity stunt of bringing the media and trying to get into the ICE facility unannounced to see how the kids were living under Trump but then never mentioned the detainment or living conditions again once the news cycle refreshed. Wyden on the other hand has been killing it by blasting the government on matters of privacy and surveillance for years with his position on the Intelligence Committee.
In any case, with this being a bipartisan bill, I’m sure there are healthy loopholes carved out (or plans for future amendments) in this bill.
