The repeal of Citizens vs United was one major dagger in the lung of democracy.
A stock ban is some nice grandstanding but if they were truly serious, they'd remove money from politics.
A stock ban is some nice grandstanding but if they were truly serious, they'd remove money from politics.
Federal employees have more strict stock regulations and yet we still see problems with private influence on the government.
The issue is our bribery laws are ridiculously weak. It's not illegal for your pals at Nestle to pay you 10x for your house or send your kids to college.
Stock is fairly public knowledge and you owning shares in Nestle doesn't do nearly as much to influence the laws you write regulating Nestle. You can always dump the stock before sending the laws out of committee.
The one positive of banning congressional stock trading is that at least it might make congressional people more sensitive to the broad market.
But yes, I'd support outright banning crypto, especially for Congress. WAAAAY to easy to spin up a new coin that effectively works as money laundering.
That's a much worse scenario than stock currently is. It's a lot harder to create new stock.
For those unaware of it here’s a great podcast episode summarizing how it’s really cooked everything in politics: https://www.fivefourpod.com/episodes/citizens-united-v-fec/
Enh
Though they have different POVs, I think they're both hysterical.
Former prosecutor Preet Bharara (Cafe Insider) has yet another POV. More nuts & bolts. Super informative.
YMMV.
There is a lot of suckage on the Supreme Court to talk about.
If you wouldn't mind reviewing https://news.ycombinator.com/newsguidelines.html and taking the intended spirit of the site more to heart, we'd be grateful.
Does the 14th amendment survive? 19th? Maybe bibles become required equipment in classrooms. Anything becomes open for editing during a convention.
Insider trading steals money from people who are not involved with politics at all... stock owners.
At least lobbyist money is voluntarily given.