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submitted 9 months ago by SeaJ@lemm.ee to c/news@lemmy.world
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[-] distantsounds@lemmy.world 141 points 9 months ago

Lawmakers should not be allowed to trade stocks

[-] chknbwl@lemmy.world 29 points 9 months ago

Say it louder for the people in the back

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[-] sin_free_for_00_days@sopuli.xyz 90 points 9 months ago

I know Pelosi is one of the magats' favorite talking points, but last time I saw Pelosi's market gains posted, she wasn't even in the top 10 of Congressfucks rigging their investments, and it wasn't close to being a one party issue.

[-] tigeruppercut@lemmy.zip 47 points 9 months ago

What the right doesn't get is that the left wants this corruption to stop, even when the corruption is from the same side. The GOP only wants the other side to be held accountable

[-] JoBo@feddit.uk 22 points 9 months ago

the left wants this corruption to stop, even when the corruption is from the same side

This is very confusing. The left absolutely does want it to stop but centrist Dems do not. The left is not on the same side as Pelosi.

[-] tigeruppercut@lemmy.zip 16 points 9 months ago

I was talking about the voting base, and how dem voters are willing to criticize the dem electorate, while GOP voters (even leaving MAGA aside, bc they're a lost cause to the cult) don't hold their representatives accountable.

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[-] qdJzXuisAndVQb2@lemm.ee 3 points 9 months ago

Maybe the left like you and me do, on the ground, but I guarantee that lawmakers on both sides of the aisle are just fine with how things are right now.

[-] tigeruppercut@lemmy.zip 4 points 9 months ago

Yeah I was thinking more about left voters instead of pols. Almost everyone in congress is fine with the corruption. But right wing voters hardly ever criticize their own, let alone the maga cultists

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[-] Ultragramps@lemmy.blahaj.zone 9 points 9 months ago

It’s that part of the fascist playbook where the enemy is weak and dangerous at the same time.

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[-] oakey66@lemmy.world 58 points 9 months ago

Well considering she made the purchase a couple weeks before there was an announcement of a new chip plant in China. The game is rigged folks.

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[-] OldWoodFrame@lemm.ee 46 points 9 months ago

Making money isn't the problem, insider trading is the problem. Did she do something as a congressperson that gave her inside knowledge of how AI was going to blow up Nvidia stock?

If not this is a non story.

[-] Otkaz@lemmy.world 27 points 9 months ago

Last time she bet on Nvidia was right before she voted on passing the chips act which directly benefited Nvidia. Thats why this is a story.

[-] tal@lemmy.today 4 points 9 months ago

I think that the concern would be less her vote -- she's just one vote -- and more that she knows how legislators, more-broadly, are going to vote.

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[-] hglman@lemmy.ml 6 points 9 months ago

Nah, see, the reality is the stock market is a fundamentally manipulatable thing that is weakly coupled to anything.

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[-] ExLisper@linux.community 44 points 9 months ago

Quick, ask her again if representatives should be able to trade stocks.

[-] Zaktor@sopuli.xyz 28 points 9 months ago* (last edited 9 months ago)

Remember when the bill to ban stock trading well was tabled so Democratic leadership could introduce a bill to ban stock trading poorly and then that bill was quietly delayed until after the Democrats lost the house?

https://www.nytimes.com/2022/09/30/us/politics/stock-trading-vote-congress.html

[-] badbytes@lemmy.world 24 points 9 months ago

Not really a bet, when you control the rules of the game.

[-] Ensign_Crab@lemmy.world 24 points 9 months ago
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[-] newthrowaway20@lemmy.world 16 points 9 months ago

Anyone with Nvidia stock made a stupid amount of money.

[-] Zorque@kbin.social 13 points 9 months ago

Not everyone who has Nvidia stock has a hand in policy that influences stock prices.

[-] TigrisMorte@kbin.social 8 points 9 months ago

What legislation involved nvidia?

[-] Copernican@lemmy.world 3 points 9 months ago* (last edited 9 months ago)

The gain was from a call though, not ownership of existing stock over long term.

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[-] maness300@lemmy.world 15 points 9 months ago

Stop voting for these people you fucktards.

[-] Burn_The_Right@lemmy.world 16 points 9 months ago* (last edited 9 months ago)

Stop voting for who? Democrats? Republicans? Politicians? Insider trading is effectively legal in congress, no matter your party affiliation.

We need a complete overhaul. But we still need to keep voting. Progressives at least favor improvements to the system itself, so if you mean "vote progressive instead of these others", then I agree.

[-] maness300@lemmy.world 4 points 9 months ago

vote progressive instead of these others

Yes, this.

[-] neptune@dmv.social 14 points 9 months ago

It turns out the two party system is sort of like a hostage situation

[-] alienanimals@lemmy.world 13 points 9 months ago

The (already rich) members of Congress get to break the law and commit insider trading whenever they want. If you COULD commit insider trading, they would throw your ass in jail.

It's a big club and you ain't in it.

[-] phoneymouse@lemmy.world 12 points 9 months ago

How do 80 year olds know what stocks to buy and I don’t?

[-] Pyr_Pressure@lemmy.ca 15 points 9 months ago

Because they get all the insider info that they are legally allowed to use for investment strategies which commoners are not.

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[-] doctorcrimson@lemmy.world 13 points 9 months ago

She married a man in college who would later become the owner of an investment firm. Have you tried doing that?

[-] Zoboomafoo@slrpnk.net 3 points 9 months ago* (last edited 9 months ago)

They're in a job where they often are the first to hear significant public info that will affect the markets. This lets them make stock deals to their benefit before anyone else.

If they're being scummy, they use info that isn't public.

Progressives in the DNC are pushing for this to be reformed, so that's the best path for change.

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[-] TheDeepState@lemmy.world 10 points 9 months ago

Eat the rich.

[-] Phegan@lemmy.world 9 points 9 months ago

Those in Congress should not be able to trade stock

[-] Zehzin@lemmy.world 5 points 9 months ago

Girlboss financial crimes 💅

[-] recapitated@lemmy.world 5 points 9 months ago

What's the crime? anyone who follows the market knows people have been drooling over nvidia for a long time now.

[-] FlexibleToast@lemmy.world 5 points 9 months ago

There is a lot of financial crime in congress, but this isn't it. Heck, even I knew to buy Nvidia.

[-] tacosanonymous@lemm.ee 5 points 9 months ago

Is it really a bet if you know the outcome?

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[-] yarr@feddit.nl 5 points 9 months ago

Other countries should be following our great example. Not only do we have the best legislators, but in their spare time they are also financial geniuses, doubling their salary easily. Other countries are envious that our government workers are so efficient and financially savvy.

[-] TigrisMorte@kbin.social 4 points 9 months ago

You sure it wasn't her Husband that did that? I mean it is what he does as his job.

[-] SeaJ@lemm.ee 4 points 9 months ago

He probably gave her advice based on what would likely be happening in Congress.

[-] TigrisMorte@kbin.social 5 points 9 months ago

And again I ask what legislation affected nvidia stock?

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this post was submitted on 26 Jan 2024
430 points (94.2% liked)

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