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I've got mixed feelings on this one. Even if stock trading is banned for congress, they will always find ways around the ban. I say let them trade but require them to post their trades on the internet.
Yep, I agree If you get elected to Congress all investing for yourself and any immediate family members needs to be turned over to a mutual fund or blind trust.
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Ours is a government of the People, by the People and for the People.
The people representing us are supposed to play by the same rules. They're us. "Of the People." They shouldn't gain any advantages nor lose any liberty by taking the position, and it's not supposed to be a full time job, either.
While I see the corruption and recognize the need to address it, we can't begin to do that by sacrificing our fundamental principles. If we start on that path, we'll always be on that path. No. We'll find another way. All of us are citizens, equal under the law. If I can trade stocks, Nancy Pelosi can trade stocks.
Speaking of Nancy Pelosi and stocks, a large chunk of the down payment for my house came from her, in a way. I found out about a battery recycling startup her husband's firm was funding and the rest is history. Got in for under three cents. It's currently at 91 cents. Long term target is nine dollars or more.
The next company I'm going to look at is McConnell's family shipping business. Too late to do as well with that one, but will it fail? Ha!
I really have no issue with Members of Congress being able to hold and trade stocks. I would suggest that any active member of congress would be required to put their stocks into a blind trust, where they are removed from the day-to-day decisions as to when to buy and sell stocks.
I would also expand the restriction to anyone in the member's immediate family that may be able to use that same "insider" knowledge.
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