That is, Senators/aids/etc are fully legally allowed to act on information they acquire through the legal process. This includes buying and selling stocks, and, of course, shorting.
its no high speed trading, but its a great way to make some killer returns.
William Nichols : this is where I love the O'Rourke quote: "When buying and selling are controlled by legislation, the first things to be bought and sold are legislators."
And, apparently no takers. Odd.
ReplyDeleteScience: 2
Trolling: Zero.
I don't think they will show up to the trolls if you only use acronyms.
ReplyDeleteYeah. Some time in the future, I may try again.
ReplyDeleteI'm afraid of a system of leadership that relies on benevolent millionaires
ReplyDeleteOh man, a reasonable response!
ReplyDeleteScience: 2
Trolling: Zero
Reasonableness: 1
Orion Cooper Yeah, that is a problem. And it is the one we find ourselves in. The only non-millionaire running is Bernie, and he's still worth ~750k*
ReplyDelete*Which, given that he is in the Senate and it is completely legal to practice insider trading from the floor, means he practices restraint.
I was not aware that it was legal to practice insider trading as a sitting senator
ReplyDeleteSo long as it is done from capital hill.
ReplyDeleteThat is, Senators/aids/etc are fully legally allowed to act on information they acquire through the legal process. This includes buying and selling stocks, and, of course, shorting.
its no high speed trading, but its a great way to make some killer returns.
Well, poopy.
ReplyDeleteAsk this: Who would enforce a ban on such a thing? Who would pass such a law?
ReplyDeleteI was also sad when I first learned this. I had a feeling of betrayal.
ReplyDeleteWilliam Nichols : this is where I love the O'Rourke quote: "When buying and selling are controlled by legislation, the first things to be bought and sold are legislators."
ReplyDelete