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In 2021 30 members of Congress have violated a law designed to root out insider trading

We Never Know

No Slack
People from both party's are involved.
Some need to realize a politician is a politician.

"Insider and several other news organizations have this year identified 30 members of Congress who've failed to properly report their financial trades as mandated by the Stop Trading on Congressional Knowledge Act of 2012, also known as the STOCK Act.

Congress passed the law in 2012 to combat insider trading and conflicts of interest among their own members and force lawmakers to be more transparent about their personal financial dealings. A key provision of the law mandates that lawmakers publicly — and quickly — disclose any stock trade made by themselves, a spouse, or a dependent child.

But many members of Congress have not fully complied with the law. They offer excuses including ignorance of the law, clerical errors, and mistakes by an accountant.

While lawmakers who violate the STOCK Act face a fine, the penalty is usually small — $200 is the standard amount — or waived by House or Senate ethics officials. Ethics watchdogs and even some members of Congress have called for stricter penalties or even a ban on federal lawmakers from trading individual stocks, although neither has come to pass."


More here...

https://www-businessinsider-com.cdn.ampproject.org/v/s/www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9?amp_js_v=a6&amp_gsa=1&amp&usqp=mq331AQKKAFQArABIIACAw==#aoh=16328331817831&referrer=https://www.google.com&amp_tf=From %1$s&ampshare=https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9
 
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sun rise

The world is on fire
Premium Member
And might only get fined $200 for illegally making/not reporting $millions.
That's not even a slap on the wrist.

Maybe we need public shaming - put them in the stocks and pelt them with rotten fruit on national TV. I'd bet that would be a deterrence.
 

Heyo

Veteran Member
"Insider and several other news organizations have this year identified 30 members of Congress who've failed to properly report their financial trades as mandated by the Stop Trading on Congressional Knowledge Act of 2012,
That's pretty lazy journalism. Only 30? I can't believe it.
 

Heyo

Veteran Member
That's not even a slap on the wrist.

Maybe we need public shaming - put them in the stocks and pelt them with rotten fruit on national TV. I'd bet that would be a deterrence.
The stock is a shaming device. To be effective the recipient must be able to feel shame.
 
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