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by sceew 1794 days ago
Not sure why the % returns really matter here.

Even if you lose money, insider trading is still insider trading. Congress + senators 100% receive insider information. Even if its not near-term merger announcements or big federal contracts - they still have an extremely advantaged position and access to information that the general public doesn't have.

Its ridiculous that they can trade individual stocks, yet alone options.

They should be restricted from buying individual stocks, and should only be allowed to buy mutual funds and ETFs at a minimum. Pretty much any employee on Wall Street (even if "back-office") has similar restrictions.

I don't even know why this is a question - the optics of short-term levered bets from elected officials (or family of) is terrible. Completely ruins any resemblance of "public service."

Even with this, it might not be enough. Elected officials could still buy the TQQQ ETF (3x leverage on NASDAQ) prior to a stimulus bill passing. It would be too onerous to not allow any stock exposure, but maybe they should be required to disclose trades in real-time vs. at the end of every quarter.