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Davriellelouna@lemmy.worlddeleted by creator to politics @lemmy.world · 1 year ago

Senator Hawley introduced a bill to ban stock trading among Members of Congress. Democrats said OK we'll support it if it includes the President and JD Vance. Now the White House is against the bill.

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Senator Hawley introduced a bill to ban stock trading among Members of Congress. Democrats said OK we'll support it if it includes the President and JD Vance. Now the White House is against the bill.

lemmy.world

Davriellelouna@lemmy.worlddeleted by creator to politics @lemmy.world · 1 year ago
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Source: https://www.axios.com/2025/07/29/white-house-lobbies-hawley-stock-trading-ban

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  • WhatAmLemmy@lemmy.world
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    1 year ago

    The MSM is as much the enemy as the oligarchs and corporations who buy our political class. They are all cut from the same cloth.

    They think you’re stupid. They think you’ll believe laws actually apply to the fascist dictatorship or wealthy, despite all evidence to the contrary.

    • DragonTypeWyvern@midwest.social
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      1 year ago

      Can’t blame them, we keep proving it right.

  • FenderStratocaster@lemmy.worlddeleted by creator
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    1 year ago

    LOL

  • ClownStatue@piefed.social
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    1 year ago

    I would extend this to all political appointees. Including judges and justices.

    • frunch@lemmy.world
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      1 year ago

      Funny thing is, once upon a time i would have simply assumed that to be the case. Boy was i naive!

  • Psaldorn@lemmy.world
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    1 year ago

    They should be allowed to buy indices once a year, and only sell them when they leave office.

    This encourages them to actually improve the economy but prevents them from using insider info to a large extent.

    Perhaps it should be a new index that tracks a bunch of the major and minor indices, so anything they did try to pump would have minimal effect, but shutting devastating to the wider economy (like tariffs, spring workers, killing aids programs that funded US farmers etc) would be resisted.

    But I’m not American nor an economist so 🤷

    • brucethemoose@lemmy.world
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      1 year ago

      Perhaps it should be a new index that tracks a bunch of the major and minor indices

      There are already whole-market indices they can invest in.

    • chellomere@lemmy.world
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      1 year ago

      I’d be careful to not encourage short term economic growth, which it may do if they’re allowed to sell directly when they leave office.

      • Psaldorn@lemmy.world
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        1 year ago

        That’s why I say only sellable after term is complete.

        Perhaps a delay after that point would encourage policies that stand the test of time.

      • HubertManne@piefed.social
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        1 year ago

        This is where proper taxation comes in. They should not want to sell it all at once.

  • ByteJunk@lemmy.world
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    1 year ago

    This is entirely hypocritical, but kinda smart.

    The Democrats absolutely don’t want this to go through, but they know Trump et al would never allow it through, so they can pretend to be the good guys.

    This is an actual “drain the swamp” measure.

    Nobody is fooled, but please do go ahead and press the issue, let’s see where it leads.

    • Optional@lemmy.world
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      1 year ago

      The Democrats absolutely don’t want this to go through

      BULLSHIT. https://thehill.com/business/economy/5314624-democrats-reintroduce-congressional-stock-trading-ban/

      https://www.npr.org/2024/07/10/g-s1-8989/bipartisan-stock-trading-ban

      https://krishnamoorthi.house.gov/media/press-releases/reps-krishnamoorthi-fitzpatrick-mills-and-ocasio-cortez-re-introduce-bill-ban

      https://thehill.com/homenews/senate/3261099-democrats-make-last-ditch-effort-to-ban-stock-trading-by-lawmakers/

      https://www.newsweek.com/alexandria-ocasio-cortez-co-sponsor-house-bill-banning-members-congress-trading-stocks-1493851

      https://thehill.com/homenews/house/489076-house-bill-would-ban-stock-trading-by-members-of-congress/

      https://www.minnpost.com/national/2020/03/rep-angie-craig-wants-to-ban-members-of-congress-from-owning-stocks-after-coronavirus-related-trading-by-senators-her-bills-getting-renewed-attention/

      https://www.merkley.senate.gov/merkley-brown-introduce-legislation-to-stop-government-officials-from-profiting-off-of-their-positions/

    • USSMojave@startrek.website
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      1 year ago

      Both sides bad blah blah blah blah

  • TranscendentalEmpire@lemmy.today
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    1 year ago

    I still can’t believe Rand Paul is in charge of anything… His neighbor could have made a nice chunk of change if he had sold tickets to that ass whooping.

  • some_guy@lemmy.sdf.org
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    1 year ago

    You know who will vote against this? Pelosi. But not because her husband is a stock trader and they’ve made a ton of money through her inside knowledge of upcoming legislation. No, she’ll find some other reason, I’m sure.

    Oligarchs. All of them.

  • Comrade_Squid@lemmy.ml
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    1 year ago

    I support this, sadly this won’t stop crooks. Trump is already known for putting assets in family members names to skirt the law.

  • howrar@lemmy.ca
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    1 year ago

    I like how the title implies that it targets JD Vance rather than all current and future vice presidents. Fuck that guy in particular.

  • Trainguyrom@reddthat.com
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    1 year ago

    Josh Hawley is a lunatic, but I suppose a broken clock can be right a couple of times a day.

    As long as the bill doesn’t have anything super problematic buried in its language this sounds potentially quite beneficial

    • LifeInMultipleChoice@lemmy.world
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      1 year ago

      It would be so nice if bills had to be broken into pieces to be approved. 1 issue per bill, and if say 10% of the legislature recognized it had more than one issue in a bill it automatically needed a supermajority to pass.

  • dastanktal@lemmy.ml
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    1 year ago

    Archive Link: https://archive.is/8crKd

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