Paul Pelosi, The new Wolf of Wall Street

[Phil1111 910]

So insider trading is illegal. Why has an investigation into Nancy Pelosi's husband not been started?

Surely democrats have some sense of integrity? This conduct is expected of republicans But...

[jakee 1,254]

Just now, Phil1111 said:

So insider trading is illegal. Why has an investigation into Nancy Pelosi's husband not been started?

Because insider trading using privileged information that congress people learn as part of their official duties is not illegal.

[wmw999 2,121]

28 minutes ago, jakee said:

Because insider trading using privileged information that congress people learn as part of their official duties is not illegal.

As far as I'm concerned, it should be.

Wendy P.

[wolfriverjoe 1,340]

15 minutes ago, wmw999 said:

As far as I'm concerned, it should be.

Wendy P.

Lots of people think it should be.

Unfortunately, the ones who don't think so are the ones who make the rules.

Somewhat similar to campaign finance reform, when the ones who benefit from the rules are the ones who make the rules, change is not terribly likely.

[airdvr 197]

I hope people are beginning to wake up to this scam.

[jakee 1,254]

1 hour ago, wmw999 said:

As far as I'm concerned, it should be.

Wendy P.

It is indeed completely bonkers, and one of those relate things that is rampantly abused by both sides.

I guess it’s the inverse of the golden rule. He who makes the rules gets the gold.

[Phil1111 910]

In 2012, the Stop Trading on Congressional Knowledge Act was passed to clean up Washington.

"Congress passed the Stop Trading on Congressional Knowledge Act (STOCK Act) in 2012, following more than 10 years of allegations of insider trading by members of Congress and staff.

A decade after its passage, the STOCK Act has done little to prevent the appearance of corruption and has fallen short of ensuring that Congress is prioritizing the public over their own interests.   

The onset of COVID-19 highlighted the shortcomings of the STOCK Act, when dozens of members of Congress from both sides of the aisle made stock transactions totaling over $150 million. The Department of Justice investigated several of these members for insider trading."

The discipline of prison is the only way to clean up politicians. Especially so in the age of tribalism.

[JerryBaumchen 1,048]

4 hours ago, airdvr said:

I hope people are beginning to wake up to this scam.

Hi airdvr,

It has been going on forever.  Anyone who does not know this is not wanting to know it.

LBJ had everything in Lady Bird's name so it would not come back on him.

They all do it if given the opportunity.

Jerry Baumchen

[billvon 2,400]

6 hours ago, Phil1111 said:

So insider trading is illegal. Why has an investigation into Nancy Pelosi's husband not been started?

As Trump would put it - because he's smart.

[Phil1111 910]

4 hours ago, JerryBaumchen said:

Hi airdvr,

It has been going on forever.  Anyone who does not know this is not wanting to know it.

LBJ had everything in Lady Bird's name so it would not come back on him.

They all do it if given the opportunity.

Jerry Baumchen

Imagine if lawmakers crafted laws to tackle insider corruption in Washington. With the zeal that they use to pander to their respective bases.

Edited July 29, 2022 by Phil1111

[wolfriverjoe 1,340]

11 hours ago, airdvr said:

I hope people are beginning to wake up to this scam.

People have been 'waking up' to this scam for a while.

As noted above, there have been several attempts to make this sort of insider trading less legal.

Very few of these efforts went anywhere.