ADVERTISEMENT

Congressional Stock Trading

We’ve not discussed the bills that are being written and discussed that would generally prevent members of congress and their significant others from trading individual stocks.

I’m a capitalist but I am also 100% for it

Just insane not to have this. When making $$$$ is transparently and publicly exalted over service, they need out.
 
Just insane not to have this. When making $$$$ is transparently and publicly exalted over service, they need out.
Does that include "Its a Free-market" Pelosi? Who initially led the charge in resisting these changes as her husband has made MILLIONS on stock purchases of companies impacted by Federal legislation?
 
Don’t you mean “insider trading individual stocks?”

the way the bills are being aimed, it sounds like the bills will seek to ban all individual stock trades with the assumption that being in congress has gives too much advantage over the average investor

23 of the 25 pushing this are house Dems. I’m not a democrat, but would still love to see team blue use its house majority to get this going
 
There are several bills being scripted but the most popular ones include a spouse’s trades as well
I'm aware of the submitted proposals. Will be curious what (if anything) actually makes it to the floor for a vote. That said, my question was more to the report that Crenshaw had the best performing portfolio, and whether that report included spouses of congress.
 
Dan Crenshaw, one of my favorite guys in the house, finished #1 on stock returns on a percentage basis.

really made me shake my head

My central political thesis is that people that seek out political power have such insane ambition that doesn't allow for much personal creativity, they are generally hollow if not outright sociopathic.

If we take the money out of politics, about 90% of the frustrations we have with DC will abate. I just think at this point, representative democracy as conceived in the 1780's is archaic. Elected representatives plainly aren't getting it done for much of anyone congressionally. Why do you or I need to elect one person to represent what we want across a whole range of ideas? One person is supposed to reflect what you want on national defense, road funding, education, abortion, etc? It's ludicrous if you think about it.

It doesn't take a month to travel via horseback to get together and debate and vote. In a perfect world, we would all vote on issues via a virtual super-legislature, and if we know nothing about a particular issue, assign our vote to a proxy for that specific issue. You and I may agree 100% on staying out of Ukraine and getting fiber to rural Oklahoma, but disagree on abortion and college admissions grants. Why can't we vote how we want on Ukraine and rural fiber, and let abortion and college grants get worked out on their own? If I like David Allen's tech takes, I can give him my proxy and he votes how I want on tech issues. Magnify that times 400 million, and you have a small number of wonky people representing vast swaths via a proxy on certain issues and the second their constituents don't like hw they vote, the proxy is rescinded. This idea of pure democracy scares people shitless, but it would make voters choose to either get informed, or find someone that is reflective of what they generally want. I think most people would simply look at who reflects what they want on a specific issue and assign their proxy on that issue, and then you'd see a massive re-legislation that lots of the country would get behind.

Take our tax code. How to defend it, and how to blame one party over another? It's just wildly complex and frankly, understanding it or affording someone that can is a legitimate, concerning barrier to entry. It shouldn't be so wildly complicated. I invest in real estate and the super-depreciation loopholes right now that are being used is just crazy that they'd ever let the tax code get to this position. Great if you can afford it, I guess.
 
My central political thesis is that people that seek out political power have such insane ambition that doesn't allow for much personal creativity, they are generally hollow if not outright sociopathic.

If we take the money out of politics, about 90% of the frustrations we have with DC will abate. I just think at this point, representative democracy as conceived in the 1780's is archaic. Elected representatives plainly aren't getting it done for much of anyone congressionally. Why do you or I need to elect one person to represent what we want across a whole range of ideas? One person is supposed to reflect what you want on national defense, road funding, education, abortion, etc? It's ludicrous if you think about it.

It doesn't take a month to travel via horseback to get together and debate and vote. In a perfect world, we would all vote on issues via a virtual super-legislature, and if we know nothing about a particular issue, assign our vote to a proxy for that specific issue. You and I may agree 100% on staying out of Ukraine and getting fiber to rural Oklahoma, but disagree on abortion and college admissions grants. Why can't we vote how we want on Ukraine and rural fiber, and let abortion and college grants get worked out on their own? If I like David Allen's tech takes, I can give him my proxy and he votes how I want on tech issues. Magnify that times 400 million, and you have a small number of wonky people representing vast swaths via a proxy on certain issues and the second their constituents don't like hw they vote, the proxy is rescinded. This idea of pure democracy scares people shitless, but it would make voters choose to either get informed, or find someone that is reflective of what they generally want. I think most people would simply look at who reflects what they want on a specific issue and assign their proxy on that issue, and then you'd see a massive re-legislation that lots of the country would get behind.

Take our tax code. How to defend it, and how to blame one party over another? It's just wildly complex and frankly, understanding it or affording someone that can is a legitimate, concerning barrier to entry. It shouldn't be so wildly complicated. I invest in real estate and the super-depreciation loopholes right now that are being used is just crazy that they'd ever let the tax code get to this position. Great if you can afford it, I guess.
This is a byproduct of the growth of D.C. If we could quit growing Federal power and shift back towards more state's rights and limited federal power, then you can achieve a more representative government as more decisions are pushed down locally. But its not practical to have a true democracy and to think otherwise is absurd. Our entire capitalistic system (as well as free trade @Ponca Dan) is based on gaining effeciency through specialization. I don't fix my broken pipes, I hire a plumber. I didn't build my own house. I bought one from builders who do that for a living. By that same token, I elect a representative to be informed and perform these jobs for me. Its not realistic for me to be informed enough to vote every day about whatever the decisions of the day may be. I have a real job to perform that is my part of pushing the economy forward, and I expect my elected representatives to do the same. The problem though is that by centralizing EVERY decision to D.C., my needs as a suburban Florida resident are significantly different than a penthouse-living millionaire in NYC or a homeless park dweller in San Fran, and thus one solution does not fit all. And while we have controls, like the filibuster, to try to drive policies to be moderate and acceptable to most, the bi-polar nature of our two-party system has driven the middle out and left every decision as 1-sided with zero compromise. And our solution to the problem (both sides) is to eliminate the controls that drive compromise and moderation, rather than to negotiate in good faith and find acceptable compromise.
 
This is a byproduct of the growth of D.C. If we could quit growing Federal power and shift back towards more state's rights and limited federal power, then you can achieve a more representative government as more decisions are pushed down locally. But its not practical to have a true democracy and to think otherwise is absurd. Our entire capitalistic system (as well as free trade @Ponca Dan) is based on gaining effeciency through specialization. I don't fix my broken pipes, I hire a plumber. I didn't build my own house. I bought one from builders who do that for a living. By that same token, I elect a representative to be informed and perform these jobs for me. Its not realistic for me to be informed enough to vote every day about whatever the decisions of the day may be. I have a real job to perform that is my part of pushing the economy forward, and I expect my elected representatives to do the same. The problem though is that by centralizing EVERY decision to D.C., my needs as a suburban Florida resident are significantly different than a penthouse-living millionaire in NYC or a homeless park dweller in San Fran, and thus one solution does not fit all. And while we have controls, like the filibuster, to try to drive policies to be moderate and acceptable to most, the bi-polar nature of our two-party system has driven the middle out and left every decision as 1-sided with zero compromise. And our solution to the problem (both sides) is to eliminate the controls that drive compromise and moderation, rather than to negotiate in good faith and find acceptable compromise.
Man state governments are no better. They just dont have as much $ to throw around. Nothing will dash optimism about government sooner than hanging out with a bunch of Oklahoma representatives.

Here's a vignette of how intellectually honest the Fla governor is.

 
Man state governments are no better. They just dont have as much $ to throw around. Nothing will dash optimism about government sooner than hanging out with a bunch of Oklahoma representatives.

Here's a vignette of how intellectually honest the Fla governor is.

2 things: States are smaller and thus your representation within that body is more significant vs. a national representation. Second, states can be different, and thus you can align to a state where you are better represented. If you like the "We're Texas, **** off" attitude, then you move there. If you want "Rainbows, Unicorns, and big Government", you can move to California. There are options available to be better represented. But I can't easily or realistic suddenly decide to become Irish or Nepalese. Thus you don't have those options when everything is nationalized.
 
  • Like
Reactions: DCandtheUTBand
2 things: States are smaller and thus your representation within that body is more significant vs. a national representation. Second, states can be different, and thus you can align to a state where you are better represented. If you like the "We're Texas, **** off" attitude, then you move there. If you want "Rainbows, Unicorns, and big Government", you can move to California. There are options available to be better represented. But I can't easily or realistic suddenly decide to become Irish or Nepalese. Thus you don't have those options when everything is nationalized.
PSA: Oregon sucks. None of you guys should ever consider moving here. Thanks for listening.
 
Great… now I’m
Man state governments are no better. They just dont have as much $ to throw around. Nothing will dash optimism about government sooner than hanging out with a bunch of Oklahoma representatives.

Here's a vignette of how intellectually honest the Fla governor is.

Everything that has a point of leverage is going to be magnetic to some crook.

the bigger the lever, the bigger the crook’s damage. I think that is why many of us want to see the power spread out.
 
Great… now I’m

Everything that has a point of leverage is going to be magnetic to some crook.

the bigger the lever, the bigger the crook’s damage. I think that is why many of us want to see the power spread out.
I get that. Some states have pretty abysmal human rights and economic records, though.
 
I get that. Some states have pretty abysmal human rights and economic records, though.

to continue this on (good debate, btw)

at some point you have to let people be who they are as long as they are not stepping on the inalienable rights of others
 
  • Like
Reactions: Syskatine
Great… now I’m

Everything that has a point of leverage is going to be magnetic to some crook.

the bigger the lever, the bigger the crook’s damage. I think that is why many of us want to see the power spread out.
If I'm in Florida, I'm praying for someone with some sense to step in. Unbelievable, this guy.

 
Speaking of corruption, perhaps we have a reason why fla guv is pushing an ineffective treatment?

 
ADVERTISEMENT
ADVERTISEMENT