Don't Ban Stock Market Trading by Our Friends in Congress

[Johny Joe Hold]

Nancy Payless-see is working on a bill to stop members of the House and Senate from making money buying and selling stocks. This could hurt some of our favorite Republicans.

What is the big deal anyway? A person in Washington sits of a committee that passed a lot of money to build highways. Members run out a buy stocks in highway construction firms. Why is this bad? It's just capitalism. And, the politician now has money so his donors don't have to pony up.

There is so much profit made by firms producing arms for war. A smart Republican buys stock in these firms and cleans up. If someone complains, tell that person to get himself elected.

Congress' About-Face On Stock Trading Ban Hurts Americans' Trust In Government (forbes.com)

[WWJDnow]

Re: Don't Ban Stock Market Trading by Our Friends in Congress

Letting Republicans in Congress profit from confidential legislative information gives them an incentive to create more legislation that makes particular companies more profitable. And that means more money for those companies to create jobs for hard working white American men. Everybody wins!

[MitzaLizalor]

Re: Don't Ban Stock Market Trading by Our Friends in Congress

Many Christians are happy to do voluntary work but do need to eat. That requires a business to generate income, perhaps by working there (as an architect or floor sweeper or product designer) or maybe by investing so that others have the opportunity to work. Whatever form the return takes is irrelevant, it serves to buy food and whatever else is needed to enable the voluntary work.

Congress is essentially a type of voluntary work. There is some small compensation, negligible by current standards compared to any businessperson with similar budgetary constraints, so that unless it's desired to get the floor sweepers in some other source of income is essential. When meeting an Arabian prince, for instance, or a Danish shipping magnate, who'd want to feel like the poor relative? Say the Dane is ordering a drink; it would be appropriate to pick up the tab but what if only 18th century brandy is acceptable? Ninety year old Scotch in a diamond bottle to preserve the palate? These things exist and as a member of Congress you'll be meeting the people who drink them. How embarrassing when the Dane and the Arab decide to get on with the evening's work and you can't afford to pay, after all. Have to borrow the funds from them. And your budget is in the trillions? How much are they responsible for? A few lousy billion? It's nothing these days for any sort of business looking to Congress but after today ..well ..maybe they'll be thinking of Switzerland instead. Spitzbergen. Liberia. New Guinea. They'd cough up for the drinks, probably buy them a case of the stuff, “No, no, say no more about it, only too happy..” and you have to go home on your bicycle.

So sad. Everyone needs to eat, even voluntary workers.

[Ezekiel Bathfire]

Re: Don't Ban Stock Market Trading by Our Friends in Congress

Is this the same Ms. N Pelosi who recently traded $77 million in 73 transactions?