House Democrats to propose ban on lawmaker stock trading

Re:House Democrats to propose ban on lawmaker stock trading ... by techdragon on Thursday July 28, 2022 @03:22PM (#32269000)

I'd cut those numbers in half, 5x and 2.5x and the pension at half pay... Over a Million a year for a few years is a great way to bank up a "set for life if I'm smart with my money" stockpile (at least it has been until now, and may continue to be for a little while) and so you want it a little lower to avoid a constant churn of people charging at the gates for a shot at that money.

Otherwise totally agree. I'd even go so far as to say permanent ban on any employment with a step down salary/pension for life, halving with each multiple of the time in office.

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Re:House Democrats to propose ban on lawmaker stock trading ... by julienb_sea on Thursday July 28, 2022 @04:30PM (#32269739)

This is a great way to ensure politicians are utterly disconnected from the private economy. I don't think we want this scenario to play out. Politicians need to have skin in the game and a real understanding of the consequences of their decisions.

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Re:House Democrats to propose ban on lawmaker stock trading ... by drdaeman on Thursday July 28, 2022 @05:28PM (#32270327)

I don't think even this would work, unless, you know, we start exiling politicians to Mars or something like that, where they'd be completely out of touch with the society that they were in.

Sure one can (theoretically, this is just not going to fly in practice because those who are already in power won't let it happen) prohibit direct employment and other official forms of affiliation, but it would be hard to prohibit receiving gifts, talking with good friends, getting invitations and so on. Yes, you can list such things, and let judges review it, but humans are creative and there always will be loopholes.

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