I must have missed the part where members actually get charged, and convicted, for insider trading. If no one gets convicted under the law, is it really a law?
Wikipedia only lists one person, in 2019, in the last several decades that has been convicted of insider trading.
Honestly, I’m not sure why members aren’t just required to have investments be completely managed by a third party where they have no input on any specifics. They simply have too much influence and knowledge on what is going to happen to be allowed to manage their own investments while in office.
Yeah, while it was implemented, it relies on a sort of self endorcement to work… and what seems to happen is more along the lines of ‘don’t ask don’t tell’.
And agree - in an ideal world, all politicians’ investments should be managed by an independent third party to avoid conflicts of interest along with prevention of insider trading.
It’s not illegal for Congress.
Not sure if /s or not but The STOCK Act is explicitly to prevent insider trading for members of Congress…
I must have missed the part where members actually get charged, and convicted, for insider trading. If no one gets convicted under the law, is it really a law?
Wikipedia only lists one person, in 2019, in the last several decades that has been convicted of insider trading.
Honestly, I’m not sure why members aren’t just required to have investments be completely managed by a third party where they have no input on any specifics. They simply have too much influence and knowledge on what is going to happen to be allowed to manage their own investments while in office.
Yeah, while it was implemented, it relies on a sort of self endorcement to work… and what seems to happen is more along the lines of ‘don’t ask don’t tell’.
And agree - in an ideal world, all politicians’ investments should be managed by an independent third party to avoid conflicts of interest along with prevention of insider trading.