this post was submitted on 01 Apr 2024
1056 points (97.7% liked)
Political Memes
5429 readers
1533 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
People have already tried and failed doing exactly that. Because they aren’t required to report their trades when they’re making them; There’s a significant gap in reporting, so by the time the trade gets reported the stock has already increased/decreased like the congressperson expected.
For instance, let’s say [Generic Congressperson] sees a bill that will help a particular company. They know this bill is going to pass. So they buy stock in the company, vote for the bill, and the stock goes up. They then sell the stock. Three months later, those trades get reported. And now it’s too late, because the company’s stock has already been boosted. So buying now would just be buying after the boost.