Anybody Buying Yet? Where’s the Bottom?

[NDGuy]

I like that. Don't ever see it happening though unless you can find someone who doesn't have a price tag, unfortunately.

That’s the issue. When everyone is bought and paid for…only a few ahem solutions left

 

[Dave N]

"Rules for thee and not for me!"

 

[brymoore]

1. Ban stock trading by members of Congress.
2. Mandatory rapid financial disclosures.
3. Full transparency for political donations and advertising.
4. Stronger anti-corruption enforcement and ethics rules.
5. Public financing options for campaigns.
6. Better enforcement of insider trading laws.

To start.

Easier to just make them sign the SEC insider trading agreement. They’ll be banned from using insider knowledge, derivative accounts, shorting, owning individual stocks (without prior permission before an event) and margin accounts and a few other items. They can have their money handled “hands off” by an advisor to avoid some of this but then the onus is on the advisor. Accounts are sent for review I believe quarterly but potentially monthly. From my experience, they watch like hawks every move you make individually.

 

[406dn]

1. Ban stock trading by members of Congress.
2. Mandatory rapid financial disclosures.
3. Full transparency for political donations and advertising.
4. Stronger anti-corruption enforcement and ethics rules.
5. Public financing options for campaigns.
6. Better enforcement of insider trading laws.

To start.

Maybe the previous five years of tax returns should be added to your list.

 

[SAJ-99]

Easier to just make them sign the SEC insider trading agreement. They’ll be banned from using insider knowledge, derivative accounts, shorting, owning individual stocks (without prior permission before an event) and margin accounts and a few other items. They can have their money handled “hands off” by an advisor to avoid some of this but then the onus is on the advisor. Accounts are sent for review I believe quarterly but potentially monthly. From my experience, they watch like hawks every move you make individually.

I like the idea, but people keep talking about a "insider trading rule" that I don't think exists. Link to 10B-5 is below. By definition it doesn't apply to government employees. We would need to pass an entirely new law.

https://www.sec.gov/Archives/edgar/data/1164964/000101968715004168/globalfuture_8k-ex9904.htm

 

[jryoung]

It's amazing that banning trading from members of Congress has such overwhelming support but nothing gets done because leadership will delay, and stall then toss out some culture war rage bait and we take it every time.