[bardworx]

Right…why is this nonsense becoming normalized?

Congress folk are highly likely to have an investment professional managing their money, who usually outperform “the market” (whatever that means, considering most don’t benchmark S&P for obvious reasons).

What I really don’t get is that most insider trades make less than 70k before going to jail and even with inside information, a large percentage of insider trades don’t make money (but you still go to jail). Yet folks think it’s some kind of cheat code.

Folks need to stop reading WSB.

[brookst]

Are you under the impression that it is illegal for members of Congress to engage in insider trading, so therefore the absence of prosecution proves it is not a frequent occurrence?

The laws are literally different for them: https://www.nbcnews.com/politics/congress/it-illegal-lawmake...

[bardworx]

It is illegal: https://www.congress.gov/112/plaws/publ105/PLAW-112publ105.h...

SEC, that prosecutes insider trading, is a civil regulatory body and cannot send people to jail, which the article mentions for some odd reason. And I’d put the odds at 100:1 that any prosecutor in the SEC would love to go after a Congress person to further their career.

Lastly, not sure most are aware, insider trading is usually spotted by SECs internal AI/algo that is connected to all brokers, clearing houses, etc. they are very good at finding folks.

Edit: another thing that is missing from this discussion is the SEC awards a portion of the proceeds to the whistleblower of any case. I just can’t believe no one ratted out a Congress member for retirement money and all members are security masterminds.