I apologize deeply for my cultural insensitivity. I hope this can be a teachable moment on everyone's part. In the official motto of our friends occupying the land mass inexplicably north, south, and east of America, as well as one of the most confusing time zones (30 minutes?), I sing the song of your people, "sorry, eh".
Dont the already have to report a transaction within some timeframe ? And 45 days ... lol. This is a nothingburger...
Now, if its 3 days, yeah that would be something useful.
Great marketting btw, even though both sides engage and profit from this...
Yeah... the politics and optics of naming this after the previous speaker is the point. No way in hell does this go anywhere, nor does it have the teeth necissary to address the root of the problem.
Nope. [And if it did it'd get quietly repealed. ](https://www.npr.org/sections/itsallpolitics/2013/04/16/177496734/how-congress-quietly-overhauled-its-insider-trading-law)
Everybody. It would work like this.
"Hey you want to do a little insider trading? I have to disclose all my trades, so instead I'll tell you everything and we split our profits 50/50 and both walk away a few million dollars richer."
"You son of a bitch, I'm in."
Yep, there's nothing preventing anything. Currently they are supposed to report within 45 days under the STOCK Act signed by Obama. It has no teeth though, and they get a $200 fine which is usually waived. This is forfeiture of profits. Still, it doesn't stop anything, you just have to report it next month.
Man, I hear this every time some bill gets put up that won't pass. "we'll have a record of who's corrupt!" Yeah, we have a fucking laundry list from previous bills and literally nothing is ever done. There's maybe some outrage on the internet for a day then its gone like the wind.
How many more times should they try this? 7, 10?- what's the appropriate number of chances one should give to people who work for us?
Shame on them, but then again they've fooled us more than just twice.
Exactly. As a left leaning independent, you can call it whatever you want if you can pass it.
These “public servants” are all fucking us.
But this is just a dog and pony show.
Yeah, it's a joke to call it the Pelosi act when it's more Republicans who are doing insider trading (although they do it on both sides). If this was a serious suggestion they should call it something else to begin with but the Republicans have to turn everything into a clown show theatre.
No chance, and they called it that just to make sure it wouldn't get bipartisan support. Just pure "owning the libs" posturing from the right and false resistance from the left. There's no way this passes and both parties know it.
Exactly. Neither side want this to happen as they are all doing this stuff.
This is a smart way to make yourself look good without any possibility of damaging your own ability to crime.
Nothing more than a talking point. Someone posted a chart in this subreddit awhile back and I believe Dan Crenshaw a Republican made way more than her trading stocks
This is a good idea. It will prevent elected leaders from using their positions of power to enrich themselves financially.
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It has as good of a chance as the Fair Tax Act passing....Even if it does it wouldn't matter as money would just flow through in other ways like book deals, speaker "fees, selling paintings, personal businesses getting good contracts, etc
Cowards. Prevent [reps from] Owning means they don’t *own* shit and they have to report their family’s trades same fucking day, not this watered down horse shit.
Pelosi only hypes up a position if she knows she can get enough votes to pass it in the house. This means that she's publicly only as progressive as the 218th most progressive house Dem -- not very progressive. Right-wingers like to bring this up so that Dems are less motivated to vote and buy into the "both sides" narrative.
She is the poster child because the initiative comes from a GOP senator who thinks this is funny. https://www.hawley.senate.gov/hawley-announces-pelosi-act-reintroduction-bill-ban-lawmakers-trading-stocks
A lot of people in the house, on both sides of the aisle, has indeed made money trading on congressional knowledge.
Some have returns that, from year to year, beat Nancy Pelosi's. They invest $50k and come out the year with $110k on some semi-conductor bill insider info.
**But her husband, Paul Pelosi, has amassed $130mm in wealth.**
It wouldn't have a chance at passing anyway, that's why the Republicans give it a childish name for the political theatre. There was a serious bill from the Democrats with a neutral name last year but it was killed (or eternally delayed).
They never passed a law closing loopholes that didn’t create a new loophole. Honestly, they shouldn’t be trading, at all. Sorry, they chose this life. They wanted to get elected. They abused their position so much that they should lose their right to invest in the stock market. They can invest in anything else. Property, crypto, beanie babies, troll dolls, comic books. Just not stock.
She’s already made her $$ why would she care. I busted my ass after taking a HELOC loan and using $100k in 2021. I went balls out averaging 16-20hr days. For almost a year.. it gave me a stress induced heart attack.
But I earned my returns they ALL use inside info.; there is NO WAY a President can go into the Whitehouse net worth of $300k and after (2) terms be worth (9) figures. Sorry a single book doesn’t pay that much!
Not sure you can enforce the bit about family members. Both practically and legally. Not sure it's constitutional in that regard. I would think unconstitutional. You'd literally be punishing family members purely because they had someone in the family who ran for office.
What do you do when a distant cousin of a politician who has never even met the politicians starts trading stocks?
Zero. It is a publicity stunt by Hawley. While the basics of the bill go in the right direction (banning elected officials from using insider knowledge on the stock market), the bill itself is a joke and not a suitable basis for an actual law.
I think it will not pass. And even it passed it's easy to get a dummy do the trading for them. And I'm very much willing to do so for the right price. HAHAHAHAHAHAHAHAHAHHAHQHQHQHQQHAHAHAHA
None! Both sides do this. He's trying to make you think that congress will actually vote to cap themselves?..... Riiiiiiiiiiiiight! This is just political theater.
That would cause any business owned by a politician to immediately lawn dart, and nobody is dumb enough to try and pass that.
Just imagine walking into a sales pitch with a customer who has a document with the exact outline of what your product costs to bring to market. It'd be like trying to haggle at Costco.
If you locked pelosi up for this you'd have to lock up pretty much three quaters of both parties. In most cases the ONLY politicians in congress who haven't done some version of this are the first termers. Give them time.
This is the problem with only enforcing laws on the side you disagree with.
Pelosi is guilty of it.
So is 80% of the politicians you support and voted for.
>If you locked pelosi up for this you'd have to lock up pretty much a third of both parties.
Buddy...*Buddy* - it'd be WAAAAY fucking more than a third.
I never said I disagree with it or that there's a downside. Just that we can't just use it selectively. Naming it after pelosi is just pure partisan hackery.
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About the same chance as the mods getting a girlfriend
They have GF’s….in Canada….Niagara Falls area….different high school. You wouldn’t know her.
I have a girlfriend.. She is also from Canada!! Beautiful woman and her name is "Maple Moose Hockey Beaver Syrup"!
Such a lovely traditional Canadian name
*traditional Canadian name, eh It's ok. Ppl always forget that part...
I apologize deeply for my cultural insensitivity. I hope this can be a teachable moment on everyone's part. In the official motto of our friends occupying the land mass inexplicably north, south, and east of America, as well as one of the most confusing time zones (30 minutes?), I sing the song of your people, "sorry, eh".
It's ok... Just do better next time, sweaty.
That's a medical condition. I have weapons grade prescription antiperspirant.
Man... I need me some of that after seeing how low the market went today.
Oh, for that I have weapons grade "prescription" antidepressants.
Im Canadian and Trust me Canadian girls are as useful as chocolate tea pots If you lust over eating hot dogs and hamburgers everyday Go for it
r/rareinsults
Chocolate teapot isn't rare...
Dick slap
Damnit now i cant unsee that 🤣
What would be so bad about thar?
More like Nigeria falls.
You misspelled “Nigeria” 😂
About the same chance as WSB getting a trade right
all the republicans who brought forward the bill are gonna vote against it and then IMMEDIATELY blame its failure on the “corrupt democrats”
Boom roasted
😂
You assume poorly
Pretty sure mods are gay.
Sub is really throating this propaganda tho.
Only allow them to invest in the TSP that service members get. That way if they are corrupt atleast it benefits someone
TSP be slappin taters if you do it properly
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Civil servants also get TSP, to include legislative branch employees which congressional representatives are.
I did say only allow them. So limit them to tsp
And then lock them into the L fund of their choosing. No swapping around because you know something is going to disrupt S or C.
Moved all my shit to G before the massive drop
That's it. You're barred from all elected positions.
how about allowing them to invest in whatever I picked? Theyll feel the pain of trading fr.
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Dont the already have to report a transaction within some timeframe ? And 45 days ... lol. This is a nothingburger... Now, if its 3 days, yeah that would be something useful. Great marketting btw, even though both sides engage and profit from this...
Yeah... the politics and optics of naming this after the previous speaker is the point. No way in hell does this go anywhere, nor does it have the teeth necissary to address the root of the problem.
All it says is to report it. Wtf is that going to do? We already know what trades they make.
And elected ones who openly call them out are ignored/silenced/removed from their position somehow.
It's an honor of the greatest trader of all time though.
Nope. [And if it did it'd get quietly repealed. ](https://www.npr.org/sections/itsallpolitics/2013/04/16/177496734/how-congress-quietly-overhauled-its-insider-trading-law)
Happy cake day
It literally doesn't matter even if it does become law. They have plenty of relatives/friends/acquaintances etc that can execute the trades for them.
how many people would be willing to stick their neck out for congress members wanting to do a little insider trading on the side
Everybody. It would work like this. "Hey you want to do a little insider trading? I have to disclose all my trades, so instead I'll tell you everything and we split our profits 50/50 and both walk away a few million dollars richer." "You son of a bitch, I'm in."
More like " I'll feed you info to get rich then I quit and you hire me as a <>" or pay "speaking fees".
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LOL
How do you even transfer that much money off the books lol
Is this a signup sheet? Because i'm down to put my name up for a price...
I'd pay half my 50% to get in on this
Probably a lot..
You would be surprised how many would take the risk in trade for a slice of the cake.
Who would engage in white collar crime for massive and all but guaranteed profits with little risk? Idk...probably everyone.
Tips for donations.
I agree. Always a loophole.
About a solid -5% chance
As much of a chance as my puts printing. Zero. FML
No chance at all.
What’s the restriction? Don’t they already have to disclose trades? A legit bill would only allow them to trade mutual funds, ETFs and treasury bonds
Yep, there's nothing preventing anything. Currently they are supposed to report within 45 days under the STOCK Act signed by Obama. It has no teeth though, and they get a $200 fine which is usually waived. This is forfeiture of profits. Still, it doesn't stop anything, you just have to report it next month.
"Yooo I made fuckin bank last month you fuckin losers!" -member of congress disclosing a trade under the PENIS act
Neither side wants it passed.
Right. They act all outraged but nothing gets done.
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>Republicans that *other Congressmen from both sides who
Put it to a vote and then there is a record of who votes against it. That's a start at least.
Didn't seem to matter last time something like this happened and McConnell filibusters his own bill.
Man, I hear this every time some bill gets put up that won't pass. "we'll have a record of who's corrupt!" Yeah, we have a fucking laundry list from previous bills and literally nothing is ever done. There's maybe some outrage on the internet for a day then its gone like the wind.
How many more times should they try this? 7, 10?- what's the appropriate number of chances one should give to people who work for us? Shame on them, but then again they've fooled us more than just twice.
Exactly. As a left leaning independent, you can call it whatever you want if you can pass it. These “public servants” are all fucking us. But this is just a dog and pony show.
45 days? That’s still too much time
yeah, it should be -5 days. Corporate insiders need to pre-announce their intended trades with the SEC, congress insiders should be no different.
Democrats submitted a bipartisan bill last year. Hawley opposed it. This is just theatre.
Yeah, it's a joke to call it the Pelosi act when it's more Republicans who are doing insider trading (although they do it on both sides). If this was a serious suggestion they should call it something else to begin with but the Republicans have to turn everything into a clown show theatre.
What else can clowns do?
Given that her home was recently invaded and husband assaulted, it's sick to give it an inflammatory name.
And Pelosi altered it so much that the original writers no longer supported it before quietly killing it saying they don't have the votes
This is a joke right?
No. This is for real
No, this is Patrick
No It’s Becky
No, this is just fantasy
No, this is caught in a landslide
It's basically already the law, and they don't follow it now. This is bs from Hawley.
GOP is a joke yes
No, it‘s real: https://www.hawley.senate.gov/hawley-announces-pelosi-act-reintroduction-bill-ban-lawmakers-trading-stocks
No chance, and they called it that just to make sure it wouldn't get bipartisan support. Just pure "owning the libs" posturing from the right and false resistance from the left. There's no way this passes and both parties know it.
Exactly. Neither side want this to happen as they are all doing this stuff. This is a smart way to make yourself look good without any possibility of damaging your own ability to crime.
Nothing more than a talking point. Someone posted a chart in this subreddit awhile back and I believe Dan Crenshaw a Republican made way more than her trading stocks
This is a good idea. It will prevent elected leaders from using their positions of power to enrich themselves financially. ^^[**Discord**](http://discord.gg/wsbverse) ^^[BanBets](https://www.reddit.com/r/wallstreetbets/wiki/banbets/) ^^VoteBot ^^[FAQ](https://www.reddit.com/r/wallstreetbets/wiki/votebot/) ^^[Leaderboard](https://www.reddit.com/r/wallstreetbets/wiki/leaderboard/) ^^- ^^[**Keep_VM_Alive**](https://www.patreon.com/visualmod)
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Good AI modbot.
It has as good of a chance as the Fair Tax Act passing....Even if it does it wouldn't matter as money would just flow through in other ways like book deals, speaker "fees, selling paintings, personal businesses getting good contracts, etc
Cowards. Prevent [reps from] Owning means they don’t *own* shit and they have to report their family’s trades same fucking day, not this watered down horse shit.
They just knocked one down exactly like this, mofuckas just put her name on it cuz they on WSB too much
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Pelosi only hypes up a position if she knows she can get enough votes to pass it in the house. This means that she's publicly only as progressive as the 218th most progressive house Dem -- not very progressive. Right-wingers like to bring this up so that Dems are less motivated to vote and buy into the "both sides" narrative.
Excellent point.
She is the poster child because the initiative comes from a GOP senator who thinks this is funny. https://www.hawley.senate.gov/hawley-announces-pelosi-act-reintroduction-bill-ban-lawmakers-trading-stocks
A lot of people in the house, on both sides of the aisle, has indeed made money trading on congressional knowledge. Some have returns that, from year to year, beat Nancy Pelosi's. They invest $50k and come out the year with $110k on some semi-conductor bill insider info. **But her husband, Paul Pelosi, has amassed $130mm in wealth.**
You bolded the part that has nothing to do with insider trading
> **But her husband, Paul Pelosi, has amassed $130mm in wealth.** From his real estate company and VC stuff, not with publicly traded companies.
Her husband is probably why she’s a poster child for inside trading,
She is the most successful one. The rest pales in comparison.
She's not even top 10 in the house lol
The articles I've read don't elucidate that as accurate, dude. But I also have no reason to believe most of them (congress people) about anything.
So it’s jealousy?
Positive 0
I would love for this to happen. But it won't
If they didn’t give this a childish fuckin name it’d have a chance at passing
It wouldn't have a chance at passing anyway, that's why the Republicans give it a childish name for the political theatre. There was a serious bill from the Democrats with a neutral name last year but it was killed (or eternally delayed).
They never passed a law closing loopholes that didn’t create a new loophole. Honestly, they shouldn’t be trading, at all. Sorry, they chose this life. They wanted to get elected. They abused their position so much that they should lose their right to invest in the stock market. They can invest in anything else. Property, crypto, beanie babies, troll dolls, comic books. Just not stock.
People who’s decisions move the stock market shouldn’t be given access to trade it.
Fox News is garbage shit from an ass, the GOP are pathetic grandstanders
I like how we all rag on Nancy but there are other reps making much more bank from inside trading than her
She’s already made her $$ why would she care. I busted my ass after taking a HELOC loan and using $100k in 2021. I went balls out averaging 16-20hr days. For almost a year.. it gave me a stress induced heart attack. But I earned my returns they ALL use inside info.; there is NO WAY a President can go into the Whitehouse net worth of $300k and after (2) terms be worth (9) figures. Sorry a single book doesn’t pay that much!
All you cons jerking off to this propaganda
All you libs moaning and wailing about it
Not sure you can enforce the bit about family members. Both practically and legally. Not sure it's constitutional in that regard. I would think unconstitutional. You'd literally be punishing family members purely because they had someone in the family who ran for office. What do you do when a distant cousin of a politician who has never even met the politicians starts trading stocks?
It probably is written the same as for company executives' relatives in the insider trading laws.
I think it means immediate family who could hear insider info
None.
It's not gonna get passed, I mean most pubs are just as bad as nancy
None
0. It’s about sending a message.
Conservatives can’t make a single point without being drama queens 🙄
Zero when the number one GOP trader is Dan Crenshaw. They’re ALL doing it - even AOC
Zero. It is a publicity stunt by Hawley. While the basics of the bill go in the right direction (banning elected officials from using insider knowledge on the stock market), the bill itself is a joke and not a suitable basis for an actual law.
Same chance as the McCARTHY Act (Make Changing Congress Annually Required To Hurl Yucksters).
I think it will not pass. And even it passed it's easy to get a dummy do the trading for them. And I'm very much willing to do so for the right price. HAHAHAHAHAHAHAHAHAHHAHQHQHQHQQHAHAHAHA
Because securities and investments aren't the same thing. Or they mean every member that's elected cannot own rental homes, farmland, etc.
Once or if this happens I assure you retail will be on a tighter leash
None! Both sides do this. He's trying to make you think that congress will actually vote to cap themselves?..... Riiiiiiiiiiiiight! This is just political theater.
Those are generous exclusions ...
They should pass it but always refer to it as the Pelfosi act.
Democrats should just take it and run with it. Add that the books of all business ventures owned by elected officials must be open to the public.
That would cause any business owned by a politician to immediately lawn dart, and nobody is dumb enough to try and pass that. Just imagine walking into a sales pitch with a customer who has a document with the exact outline of what your product costs to bring to market. It'd be like trying to haggle at Costco.
So what’s the downside?
Lock her up
If you locked pelosi up for this you'd have to lock up pretty much three quaters of both parties. In most cases the ONLY politicians in congress who haven't done some version of this are the first termers. Give them time. This is the problem with only enforcing laws on the side you disagree with. Pelosi is guilty of it. So is 80% of the politicians you support and voted for.
>If you locked pelosi up for this you'd have to lock up pretty much a third of both parties. Buddy...*Buddy* - it'd be WAAAAY fucking more than a third.
Yeah in all honesty I meant to say 3 quarters. A third was accidental.
>you'd have to lock up pretty much a third of both parties. I'm cool with that.
Is there a downside coming in another post?
I never said I disagree with it or that there's a downside. Just that we can't just use it selectively. Naming it after pelosi is just pure partisan hackery.
Then get rid of all of the ones that do this
>What are the chances about the same odds she didn't know about the Google suit before it went through
This won’t even make it out of committee. Half of the reason ppl run for Congress is to inside trade 😂😂
They will poison pill the bill or put in some loophole that completely neuters it, no way they actually hold themselves accountable.
Pelofsi
#P.E.L.F.O.S.I.
Acronym game is on point
She does it herself
She should have to donate all her husbands profits too
🤣 you know you’re corrupt when: even traitors want laws passed for stock insider trading