Why is Congress allowed Insider trading?

[Magnus]

...

The wording in the Insider Training laws stipulates information from a person inside the company is illegal to use for trades. So what this member learns in a committee is not from an employee of the company. It's a mess.

Nope. Two separate laws. Insider Trading laws apply to the general public while the STOCK Act applies to information
obtained by government employees in their official capacity.

So, if a congress member does obtain info from a committee hearing that is not generally available to the public and uses it to trade - he is liable for prosecution.

In other words, the same result - a ban on insider trading but two different laws & applicable to different entities.

 

[Moonglow]

Once again, you have nothing to add; you whine.

Ditto

 

[Markle]

Nope. Two separate laws. Insider Trading laws apply to the general public while the STOCK Act applies to information
obtained by government employees in their official capacity.

So, if a congress member does obtain info from a committee hearing that is not generally available to the public and uses it to trade - he is liable for prosecution.

In other words, the same result - a ban on insider trading but two different laws & applicable to different entities.

I don't care if there are two or two hundred laws. They are written with splitting hairs as their prime objective.

They can sit in a closed-door meeting where mandating COVID-19 injections. The member can't order anyone to call their broker, but the member can call their broker and tell them to buy 100,000 shares of Pfizer, and everything is legal.

 

[BackAgain]

Why is Congress allowed Insider trading?

Cutting across Party lines fully 95% of Congress is absolutely criminal in their use and abuse of insider trading. Members arrive as working class with a net worth of several hundred thousand dollars, and literally make tens of millions in a few short year -- this on a Congressional salary too no less!

Congress has become a tyrannical enemy of our freedoms.

They put out massive new spending bill that enrich a new group > that group the funds Congressional campaigns > Congress uses the proceeds to insider trade. That is why we are ravaged by inflation. There is simply no incentive for Congress to control spending, just the opposite in fact. Spend More, Make More

This is criminal and should be shut down by SCOTUS.

Can Congress engage in drug trafficking? Selling Children and sex slaves? What's the difference?

Congress should comply with the same rules as the rest of us. This is not really hard to understand

It is a disgrace.

But how to change the laws when it is the lawmakers who are the beneficiaries of the way they now exist? It isn’t impossible. But it sure won’t be easy.

 

[Nobody911]

Why is Congress allowed Insider trading?

Cutting across Party lines fully 95% of Congress is absolutely criminal in their use and abuse of insider trading. Members arrive as working class with a net worth of several hundred thousand dollars, and literally make tens of millions in a few short year -- this on a Congressional salary too no less!

Congress has become a tyrannical enemy of our freedoms.

They put out massive new spending bill that enrich a new group > that group the funds Congressional campaigns > Congress uses the proceeds to insider trade. That is why we are ravaged by inflation. There is simply no incentive for Congress to control spending, just the opposite in fact. Spend More, Make More

This is criminal and should be shut down by SCOTUS.

Can Congress engage in drug trafficking? Selling Children and sex slaves? What's the difference?

Congress should comply with the same rules as the rest of us. This is not really hard to understand

No, the US Congress does not allow insider trading. The Stop Trading on Congressional Knowledge (STOCK) Act, passed in 2012, clarified that insider trading laws apply to members of Congress, the President, and members of the executive branch.

The STOCK Act was enacted to prevent insider trading by members of Congress and to restore public trust in the government. It requires members of Congress to disclose their stock trades and prohibits them from trading on inside information.

However, there have been instances where members of Congress have failed to properly report their financial trades as mandated by the STOCK Act. Efforts have been made to further restrict or ban congressional stock trading to address concerns about potential conflicts of interest and the appearance of corruption.

Members of Congress are required to disclose their stock trades as part of their financial disclosure obligations. The STOCK Act, mandates that members of Congress publicly disclose their financial holdings, including stock ownership, business interests, outside income, and liabilities on an annual basis.

These disclosures are intended to provide transparency and allow the public, ethics boards in Congress, and federal agencies to review and monitor potential conflicts of interest. However, there have been instances where members of Congress have failed to properly report their stock trades in a timely manner, violating the requirements of the STOCK Act.

Efforts have been made to strengthen enforcement and ensure compliance with the disclosure requirements to maintain the integrity of the system.

Sources :

1. How Senators May Have Avoided Insider Trading Charges

2. Can Members of Congress Engage in Insider Trading?

3. Stock Trades Reported by Nearly a Fifth of Congress Show Possible Conflicts (Published 2022)

4. 78 members of Congress have violated a law designed to prevent insider trading and stop conflicts-of-interest

5. How Congress Hides Stock Holdings in Plain Sight

6. https://publicconsultation.org/wp-content/uploads/2023/06/StockTradesQuaire_0623.pdf

7. CLC Complaints Target Seven Members Who Failed To Disclose Stock Trades

8. 78 members of Congress have violated a law designed to prevent insider trading and stop conflicts-of-interest

9. (very important)==> Office of the Clerk, U.S. House of Representatives

 

[Magnus]

I don't care if there are two or two hundred laws. They are written with splitting hairs as their prime objective.

They can sit in a closed-door meeting where mandating COVID-19 injections. The member can't order anyone to call their broker, but the member can call their broker and tell them to buy 100,000 shares of Pfizer, and everything is legal.

So, why didn't your orange douchebag stop it? Oh, I know. Because he is the biggest thief who ever got the presidency.

 

[Markle]

So, why didn't your orange douchebag stop it? Oh, I know. Because he is the biggest thief who ever got the presidency.

Specifically, what did President Trump steal?

 

[Magnus]

Specifically, what did President Trump steal?

Nope. You first. My question still stands. Why didn't your orange douchebag stop the theft? Go.

 

[Markle]

Nope. You first. My question still stands. Why didn't your orange douchebag stop the theft? Go.

Why do you think the Liberals, RINOs, and elites are so desperate to destroy him?

Now, what did President Trump steal? You made the allegation; now show us your links.

 

[Magnus]

Why do you think the Liberals, RINOs, and elites are so desperate to destroy him?

Now, what did President Trump steal? You made the allegation; now show us your links.

Brrrr..... You lose. Still not an answer. Try again, retard.

 

[Captain Caveman]

Why is Congress allowed Insider trading?

Cutting across Party lines fully 95% of Congress is absolutely criminal in their use and abuse of insider trading. Members arrive as working class with a net worth of several hundred thousand dollars, and literally make tens of millions in a few short year -- this on a Congressional salary too no less!

Congress has become a tyrannical enemy of our freedoms.

They put out massive new spending bill that enrich a new group > that group the funds Congressional campaigns > Congress uses the proceeds to insider trade. That is why we are ravaged by inflation. There is simply no incentive for Congress to control spending, just the opposite in fact. Spend More, Make More

This is criminal and should be shut down by SCOTUS.

Can Congress engage in drug trafficking? Selling Children and sex slaves? What's the difference?

Congress should comply with the same rules as the rest of us. This is not really hard to understand

Because the only reason someone anywhere is/wants to be a politician is to enrich themselves. It's just all about money.

 

[sparky]

Congress should comply with the same rules as the rest of us.

any system led by exception vs. example is doomed to corruption

~S~

 

[San Souci]

The very simple answer is... because it requires Congress to vote to remove that rule from Congress, and the public isnt pushing Congress hard enough to do so. The public is distracted by a million other things.

Congressmen love insider trading. Who wouldnt? If i was allowed to, i would do it too.

Just ask Nancy Pelosi.

 

[San Souci]

Because the only reason someone anywhere is/wants to be a politician is to enrich themselves. It's just all about money.

Trump was already Rich. Can't say the same for Biden.

 

[Captain Caveman]

Trump was already Rich. Can't say the same for Biden.

Yes, Trump was an exception to the rule.

 

[MarathonMike]

Why is Congress allowed Insider trading?

Cutting across Party lines fully 95% of Congress is absolutely criminal in their use and abuse of insider trading. Members arrive as working class with a net worth of several hundred thousand dollars, and literally make tens of millions in a few short year -- this on a Congressional salary too no less!

Congress has become a tyrannical enemy of our freedoms.

They put out massive new spending bill that enrich a new group > that group the funds Congressional campaigns > Congress uses the proceeds to insider trade. That is why we are ravaged by inflation. There is simply no incentive for Congress to control spending, just the opposite in fact. Spend More, Make More

This is criminal and should be shut down by SCOTUS.

Can Congress engage in drug trafficking? Selling Children and sex slaves? What's the difference?

Congress should comply with the same rules as the rest of us. This is not really hard to understand

Kind of a big problem when the "lawmakers" routinely break the law. How many millions did Paul Pelosi make on perfectly timed options trades?

 

[JohnDB]

 

[multivita-man]

What a useless non answer. Answering questions just isnt something that you are capable of.

It answers the question.

 

[multivita-man]

Kind of a big problem when the "lawmakers" routinely break the law. How many millions did Paul Pelosi make on perfectly timed options trades?

Technically, they're not breaking the law. That's the problem. The law needs to be changed so that that kind of behavior is breaking the law.

There are people in both parties that want the laws changed, but most in both parties seem content to let things ride. There's a reason people leave Congress richer than when they arrived. Politics is a business.

 

[fncceo]

Why is Congress allowed Insider trading?

Congress has always been about insider trading ... in a direct line from Senator William Blount, to Crédit Mobilier, to today.

Getting into public office has always been about being the first pig at the trough.

"When buying and selling are legislated, the first thing to be bought and sold are legislators".

-- P.J. O'Rourke