• @distantsounds
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    14110 months ago

    Lawmakers should not be allowed to trade stocks

    • chknbwl
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      2910 months ago

      Say it louder for the people in the back

      • @[email protected]
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        610 months ago

        It’d be better just to require blind trusts. The trust has a fiduciary duty to invest their money well, and the politician can write a letter requesting a certain high-level investment strategy prior to the start of their term (ie, primarily large cap, primarily bonds, high/low risk tolerance). If they want they can add or remove money as USD during their term and they’ll get back whatever’s left at the end.

      • @[email protected]
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        110 months ago

        That’s not really what people consider “stocks” but yes of a lot of economists and political theorists were able to debate the details of the policy people could decide and urge their reps to do the right thing. Worth a shot I guess.

      • @NightAuthor
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        1510 months ago

        Sounds perfectly reasonable to me.

      • @[email protected]
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        810 months ago

        Carter sold his family’s peanut farm.

        Legislators, members of governments and their households should either be forbidden from doing insider trading, with regular detailed audits to ensure it, or should be forced to use blind trusts for investments.

      • @hark
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        110 months ago

        Insider trading is theoretically illegal in all other contexts, why are congress creeps special?