• Vox
    53 months ago

    Absolutely, but they should be beholden to the same rules as those impressed by banks to those who work in the financial sector. They should have to provide intent in advance of the buy or sell by 30 days, get approval from an ethics comittee before they make the exchange, and have steep penalties if they do not follow this. Only step I’d add is this event should be publicly available, but that would make it much harder to implement.

    It’s not rocket science to make a working system for this, they just don’t want a working system.

    • @[email protected]
      103 months ago

      Nah, since even pre announced ownership still gives them an incentive to enact policies that favor that stock.
      And with bills taking months to advance, 30 days isn’t that much of a buffer.

      Outlaw owning or trading individual stocks for politicians. They can put their noncompliant assets into a blind trust, and still own and trade in funds under the rules you specified.