Re:Unusual Stock Trading by Whales in US Congress
by lordnacho on Thursday April 15, 2021 @01:12PM
(#26823311)
As a member of Congress she has much better colour on what's about to happen than everyone else. She can basically count up the votes before before anyone else.
I'd rather live in a world where reps are squeaky clean. It's much better than one where we make up some rules where people who come right up to the line end up smelling bad, and then everyone is born complaining about the corruption and enduring it with no recourse.
Ultimately it's a rules vs discretion (aka judgement) question.
Re:Unusual Stock Trading by Whales in US Congress
by koube on Thursday April 15, 2021 @01:19PM
(#26823416)
Ok yes she did count the votes, determine that this was the highest number that could be negotiated, and then she worked to push the bill forward as she should have. And then the president tweeted out of nowhere which changed things. Trump's unpredictability is well known for anyone who has read the news at least once in the past five years. All of this is above board. What do you want her to do? Forget all of her policy goals and act against all of her stated interests because her husband bought calls the previous day?
I don't know if you remember, but the amount of stimulus remained 600, so Pelosi was on money on what was politically possible. The remaining 1400 only was possible after the slimmest of senate majorities after the Georgia runoffs.
Re:Unusual Stock Trading by Whales in US Congress
by lordnacho on Thursday April 15, 2021 @01:40PM
(#26823679)
I'd want her to not speculate on the event, it looks bad. The system doesn't just depend on people not cheating, it depends on confidence in the system, judged by people who aren't experts in either trading or politics.
Dec 23 Trump announced support for a $2000 stimulus, changing the political calculus, in favor of democrats, who did eventually push through the remaining $1400 in a separate package.
Pelosi's strategic change is not a change that happened in a vacuum. Trump's announcement was all over the news and was the single most important event in the political world that day, not Pelosi's husband buying calls. Contextualizing this event around Pelosi's husband is misleading.
Ok downvote my comment all you want but this is well documented and was less than 6 months ago, and frankly it's surprising that people forgot how impactful this event was. People are still criticizing Biden over the additional check being 1400 instead of 2000.