replace the name Pelosi with Trump and we'd be sure there would be... (Read 1467 times)

ren

an investigation

https://www.foxbusiness.com/politics/nancy-pelosis-office-responds-husbands-controversial-computer-chip-stock-purchase-ahead-congress-vote


This comes after Paul Pelosi made a purchase of between $1 million and $5 million shares of Nvidia, which is a semiconductor company, according to a disclosure filing made by Pelosi's office. He exercised 200 call options, or 20,000 shares, the disclosure states.

Reuters reported that the Senate could vote on a bill that contains billions of dollars in subsidies within the semiconductor industry as early as Tuesday.
« Last Edit: July 23, 2022, 08:29:39 AM by ren »
Deeds Not Words

ren

https://www.foxnews.com/politics/family-of-congress-should-have-some-restrictions-trading-stocks-americans-say

"I think Nancy Pelosi has profited the whole time she's been in office in unfair ways," Kristen alleged. "Paul and Nancy talk all the time, and there's no secrets between them. So he has insider trading secrets."

Ladawnah said, "Nowadays people use the power abusively, but if you're not using your power and your money to put back into the community, then what are you doing other than to uplift yourself?"

Pelosi is worth an estimated $114 million, according to her 2018 personal financial disclosure.
Deeds Not Words

macsak

#notproveninacourtoflaw

eyeeatingfish

Hmmm, could be grounds for an investigation though at the same time there was public talk of a bill to support semiconductor companies making chips in the USA so it would still seem like a reasonable investment even if there wasn't any insider trading involved. Have to figure out what, if any, private information he was given.

ren

that's why an investigation is needed....
Deeds Not Words

eyeeatingfish

Maybe we should consider a limitation on what congresspeople and their immediate family are allowed to invest in. Can't prevent them from saving for retirement so maybe let them invest in mutual funds or index funds but not purchases of straight stocks. AOC wanted to do something like this, might be her only sane thought since she joined politics.

Though I am not sure if one could be legally prevented from purchasing stocks merely because of a relation to a public official, maybe some constitutional issues there. It does seem that in a number of other countries the standards for conduct of officials is much higher. Look at the removal of UK's prime minister for what would be pretty manini here in the USA.

ren

another word salad with empty calories
Deeds Not Words

Flapp_Jackson

another word salad with empty calories

He's never at a loss for words, just meaning.

There's something called "conflict of interest".  Anyone who themselves, a family-member, a co-worker (staff), or acquaintance (doctor, lawyer, maid, driver, etc.) can gain an advantage over all other stock traders using information exclusively before their chamber should recuse themselves from voting and be treated prohibited from trading that stock.

Everyone in the private sector knows this is how the law works.  How is Congress allowed to do what is illegal for others?

How do we know the hearings and votes are not favoring a company with which someone near the members voting "Yes" has a financial interest?  We don't.  Just the appearance of such a conflict is enough to force private individuals to not take that action or suffer legal consequences.

These are basic ethical standards enforced against everyone but Congress.  It's pretty simple. 

Martha Stewart was unavailable for comment.
The reasonable man adapts himself to the world;
the unreasonable one persists in trying to adapt the world to himself.
Therefore, all progress depends on the unreasonable man.
-- George Bernard Shaw

changemyoil66

I remember when the fake news attacked Trump when they found out he had shares in the french company that made Remdisivor. Then they found out that it was part of a mutual fund and like 8% of it was allocated to that company which was about $13,000 worth.  Compared to the millions that Pelosi has with Microsoft prior to getting their government contract and other stock ventures which are not mutual funds, but deliberate stock purchases.

For those who don't know, a mutual fund is a bunch of various investments that 1 often doesn't have control over. So you invest X amount of $ and that money is spread out to various companies. It can be anywhere from a few companies to hundreds.  Example: We have a mutual fund that has about 140 companies. 1.4% is invested in Tesla, 1.2% in Apple, 0.8% in Microsoft.  We have no say in this.  The fund managers control it and have meetings to see if they need to reallocate the $ or replace companies for all their clients, not just 1 or 2 clients.  So  you can see how the fake news was wrong to bash Trump for the above. But the fake news does what they do and their sheeple believe every word of it.

eyeeatingfish

another word salad with empty calories


Did I use words too big for you to understand or just the concept that you couldn't grasp? I don't see you posting any better ideas.

Not only did I come up with a basic framework for a solution I also pointed out challenges to my own idea as well as some ways to overcome the challenges. If you can't find meaning there then thats your shortcoming, not mine.
« Last Edit: July 27, 2022, 10:00:52 PM by eyeeatingfish »

ren

Re: replace the name Pelosi with Trump and we'd be sure there would be...
« Reply #10 on: July 27, 2022, 10:14:01 PM »
"Framework" ?  Who you kidding? Sentences with "seem" and "maybe" isn't a framework for anything.
No one asked for your garbage pile of opinion.
Deeds Not Words