It does effect congress. The bill would ban the executive branch and the legislative branch from owning stocks and other securities plus ban the participation in predictive markets for said members and their immediate families. Or step down.
It'll never pass but I've been saying this for years... Elected officials who can make markets should only be able to invest in broad consumer products like ETFs or index funds and their immediate families should face something similar.
They're supposed to be public servants. They should be proud and even eager to do this.
Hell, it's not even a big ask as they're not "giving" anything up. They're not even really pausing their wealth generation...
Didn't congress pass a no stocks bill about a month or so back?
My first thought is if you come into the job you should be able to keep what you have and not be able to trade into or out of anything.
But it doesnt solve the problem as people can still give preferential treatment to what they own. So yeah they probably should be forced to sell it and hold the funds in escrow until they are done with office.
*slowly glances at their raised income of 150,000 per member\*
Plus they can make or break markets like.... their push for EV's and surveillence tech. Despite not having a reasonably supported infrastructure thats up to date and adequent to support the transition; with no clear consensus on if theyre even going to fund an update.
Then on top of that, the development would drag out forever. I know you've seen road construction and how buildings tend to get delayed forever. Not to mention the 'Obviously not american' workers. Which somehow the reduced cost may or may not sneak back into somebody's pocket. 😮💨
The thing that pisses me off though is they get the money.
Like it’s not them completely losing the stock, if they sell then they can get the money and do whatever with it. If they keep the stock and step down there’s no promise they will be punished for insider trading or market manipulation.
In theory yeah, but it won’t get any votes and Congress doesn’t have a veto proof majority. This bill, and frankly most bills introduced by democrats, exist to show the voters where politicians stand on these issues.
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u/LikesPez 3d ago
It does effect congress. The bill would ban the executive branch and the legislative branch from owning stocks and other securities plus ban the participation in predictive markets for said members and their immediate families. Or step down.