Maybe they just have too big a role in the game. Most of the big legislative ideas out there now are just fixing the big legislative ideas from a couple of years ago.
It's completely reasonable to bar members of Congress from owning shares of individual companies, but they need to be able to invest in index funds and stuff. Otherwise it will become a job that only financially illiterate people would voluntarily do.
It’s absolutely obvious no one is saying that. You can out money in index funds all you want but buying individual stocks as someone who can influence the outcome of those stocks should be illegal
Then they’re just gonna put it all into the housing market if the only asset they can hold is property… what about asset backed securities? Are they allowed to buy those?
They should. The problem is they make decisions and get information then buy or sell stock based on that. A blind third party should handle their investments.
I'm for something like the TSP. You can control what level of risk you are OK with in 4 different plans, but you have no control over what stocks your money is actually going to.
When I was in finance I had a three week window to buy or sell the company's stock every quarter and I had to have all my investments with specific banks to track that. And I didn't have full access to the company's results, just my little area.
It's not just the c-suite that has controls on it.
It's a hypothetical, a completely legit thing to do with your income. I get this kinda unhinged response. Well okay then I can see I'm dealing with someone very serious here
term limits and advocating to execute a public servant because their house increased in value are two sort of different things and neither destroys the oligarchy.
Back in the day, we had this thing called "humor" and "not being serious", and I interpreted Donohoed and TrueKing's statements as falling in line with that.
The meme, as I interpreted it is referencing the execution of a buy or sell order. Our "public servants" are robber barons, and if you don't see that, then I don't know what to say.
"I'm just joking bro". Why'd you delete your joke then? Cause I fail to see how "term limits" is a run on to the proposed execution double entendre.
humor still exists, there's plenty of examples in here that play on the double entendre. The above is simply not clever if it's attempting to be a joke and given the hatred in here just comes off as unhinged, but congrats on your joke about killing people you hate.
Sure they can, but they should have fucking skin in the game, not just using their insider information to make themselves richer. Force public officials to liquidate their portfolio (compensate them for the taxes, if you fucking must) and convert it to only SNP500 shares.
There, now your stock performance is strictly tied to the country's economic performance.
For federal employees it's a TSP. That type of account would be fine though since it's managed by an independent agency. I think this meme is talking specifically about making individual trades, which is completely different. If you want to see an example of why this is a problem look at the spike in trading of Novavax shares in the 48 hours before it was announced they would receive $1.6 billion from Operation Warp Speed.
These people sit on boards and have first hand knowledge of the deals that are taking place and play the stock market on the information they know. It becomes their focus to profit off this benefit instead of focusing on what they're job is really supposed to be about. It's corrupted delegation when your focus is on what profits best instead of what's good for the people.
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u/Donohoed 5d ago
I'm strongly against delaying the execution of public officials