Insider Trading - Congress

3,842 Views | 46 Replies | Last: 3 yr ago by richardag
TravelAg2004
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9:08p, 9/6/22
So today's big winner in the stock market is Sen Tuberville from Alabama!



My question is where do they get this insider info from? It looks like he started buying back in March and then continued to buy about once a month.

Aren't most hearings on Capitol Hill public? Could you get the same info watching CSPAN all day?
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HarryJ33tamu
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In reply to TravelAg2004 • 9:10p, 9/6/22
No - very simplified example - they rub elbows with CEOs at fundraising events. CEO donates and provides some information that might be of use in the near future.

It's a club and we ain't in it.
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lead
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In reply to TravelAg2004 • 9:11p, 9/6/22
You serious? The legislative and lobbying process is waaaayyyy swampier than that.
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Premium
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9:12p, 9/6/22
He's doing it wrong, only gained less than $200K
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HarryJ33tamu
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9:15p, 9/6/22
This is the reason politicians are so corrupt. Money.

"Serving" the People means getting rich.

Politicians and their families should be completely barred from trading when in office. Term limits should apply to every single office of power.

These two things would dramatically reduce corruption in our govt.

Politicians should serve to improve the lives of their constituents, not to get filthy rich.
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Clown_World
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9:16p, 9/6/22
There is a reason career politicians have 7-8 figure net worths and it has nothing to do with their salaries…
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DallasAg 94
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9:18p, 9/6/22
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titan
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In reply to HarryJ33tamu • 9:35p, 9/6/22
HarryJ33tamu said:
This is the reason politicians are so corrupt. Money.

"Serving" the People means getting rich.

Politicians and their families should be completely barred from trading when in office. Term limits should apply to every single office of power.

These two things would dramatically reduce corruption in our govt.

Politicians should serve to improve the lives of their constituents, not to get filthy rich.
Add a fix income or cap of some kind and it would really reign some of that in.
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itsyourboypookie
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9:39p, 9/6/22
What's Dan crenshaws net worth now?
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BQAg09
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In reply to titan • 9:39p, 9/6/22
titan said:
HarryJ33tamu said:
This is the reason politicians are so corrupt. Money.

"Serving" the People means getting rich.

Politicians and their families should be completely barred from trading when in office. Term limits should apply to every single office of power.

These two things would dramatically reduce corruption in our govt.

Politicians should serve to improve the lives of their constituents, not to get filthy rich.
Add a fix income or cap of some kind and it would really reign some of that in.


Never going to happen.
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Dan Scott
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9:41p, 9/6/22
That's a random stock to own.
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titan
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In reply to BQAg09 • 9:42p, 9/6/22
BQAg09 said:
titan said:
HarryJ33tamu said:
This is the reason politicians are so corrupt. Money.

"Serving" the People means getting rich.

Politicians and their families should be completely barred from trading when in office. Term limits should apply to every single office of power.

These two things would dramatically reduce corruption in our govt.

Politicians should serve to improve the lives of their constituents, not to get filthy rich.
Add a fix income or cap of some kind and it would really reign some of that in.


Never going to happen.
Not via Congress, no. But some national remake or another start-up -- its a lesson for then.
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TheEternalPessimist
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9:42p, 9/6/22
Doesnt look good for Coach Tuberville.

Yuck.
--

"The Kingdom is for HE that can TAKE IT!" - Alexander
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BQAg09
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In reply to titan • 9:47p, 9/6/22
Let's hold out hope for that convention of states.
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Beat40
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10:04p, 9/6/22
This is the part I hate the most about politicians.

I would almost be on board with making it a requirement for those elected and their immediate families to sell all stocks before inauguration and they cannot purchase any until they leave office. Not saying I am on board, just saying almost.
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Predmid
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10:08p, 9/6/22
The penalty for breaking the Senate's rules on insider trading is like 200 dollars for first-time offenders.

Two. Hundred. Dollars.
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Capt. Augustus McCrae
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In reply to Predmid • 10:45p, 9/6/22
Predmid said:
The penalty for breaking the Senate's rules on insider trading is like 200 dollars for first-time offenders.

Two. Hundred. Dollars.


And who determines what is or is not insider trading?
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ThreatLevel: Midnight
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In reply to Capt. Augustus McCrae • 10:53p, 9/6/22
Pelosi.
Thanks & Gig 'Em
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atmtws
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In reply to BQAg09 • 10:58p, 9/6/22
BQAg09 said:
Let's hold out hope for that convention of states.
Yes. Let the states have the ability to investigate the federal government....Let state legislatures dig in. In fact, lets do away with a federal level congress and just toss everything to the state legislatures....
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Aggrad08
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In reply to Beat40 • 11:01p, 9/6/22
Beat40 said:
This is the part I hate the most about politicians.

I would almost be on board with making it a requirement for those elected and their immediate families to sell all stocks before inauguration and they cannot purchase any until they leave office. Not saying I am on board, just saying almost.


They can move all their money to an S&P index ETF fund. It's the best the general public can do and will only prevent them from robbing us blind without the convenience of an excuse not to do it.
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11:05p, 9/6/22
Max Power
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4:38a, 9/7/22
My thoughts on this matter are unchanged. Members of congress and the senate should only be allowed to invest in index funds.
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Houstonag
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4:50a, 9/7/22
This will never change until campaign finance rules change. The SC has struck down any meaningful reform. When Soros and Zuckerberg can donate millions to a campaign and the stupid public is influenced by the adds they buy we are screwed.
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RoadkillBBQ
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In reply to [removed post] • 7:14a, 9/7/22
C@LAg said:
absolutely should be denied the ability to invest in stocks while serving.

at best, specific mutual funds should be created and managed and ALL Congress People and their immediate family have to fully participate while serving.

Serving is a choice not a right.
How about no investing and they get bonuses based on the budget and other leading economic indicators?
Something similar to how corporate America functions. Bet they'd get that disaster cleaned up quick.
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D-Fens
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In reply to itsyourboypookie • 7:24a, 9/7/22
itsyourboypookie said:
What's Dan crenshaws net worth now?

Are there shady specifics on Dan's trades like Tommy and Pelosi?

I know Dan has been outspoken about veterans abusing disability and being taught to game system to steal from taxpayer. It would be exceptionally hypocritical if there was any evidence insider info benefitted his investment performance.
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MouthBQ98
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7:49a, 9/7/22
It would take a constitutional amendment most likely to get the House to stop granting themselves de-facto exemption from insider trading rules. They are only somewhat able to be held accountable by the same laws the rest of us must comply with.
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BMX Bandit
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In reply to D-Fens • 7:49a, 9/7/22
Quote:
there shady specifics on Dan's trades like Tommy and Pelosi?
odd how no one ever explains what was shady about Crenshaw's stock purchases. but someone tweeted something, so its a big deal
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goatchze
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7:57a, 9/7/22
I'm fine with congress critters owning stocks. Just needs to be S&P Index Funds.
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milner79
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In reply to Premium • 8:17a, 9/7/22
Premium said:
He's doing it wrong, only gained less than $200K
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titan
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In reply to [removed post] • 8:20a, 9/7/22
C@LAg said:
absolutely should be denied the ability to invest in stocks while serving.

at best, specific mutual funds should be created and managed and ALL Congress People and their immediate family have to fully participate while serving.

Serving is a choice not a right.
Another reason might be even more sinister. If you are in power as they are, the temptation exists to do what George Soros does, and manipulate events to actually crash things and make more money. So that is another reason in favor of such limitations.
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HTownAg98
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8:23a, 9/7/22
Putting everything into a blind trust would be better. That way they can still earn money on their investments they had prior to joining Congress, but the investments can't be influenced on the whim of a congresscritter.
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Proc92
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8:26a, 9/7/22
Maybe force them to only invest in an index fund of American stocks, at least there might be a modicum of alignment of goals with their constituents.
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fooz
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8:31a, 9/7/22
This is a great page to see who's trading what in congress.

https://www.quiverquant.com/
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Kansas Kid
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8:49a, 9/7/22
https://www.cnbc.com/amp/2022/09/06/unsealed-fbi-docs-reveal-a-flurry-of-calls-amid-burrs-stock-trades.html

This is one place where Congress is bipartisan. This needs to stop. I would also limit their land deals as it is amazing how often they buy land right before a major infrastructure project goes right by it.
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torrid
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In reply to ThreatLevel: Midnight • 8:51a, 9/7/22
ThreatLevel: Midnight said:
Pelosi.
We all know full and well that when Mr. Pelosi gets good and liquored up, he can make some killer stock picks.
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