Re:Washington Officials Traded Stocks with Exquisite Timing
by giantg2 on Thursday October 20, 2022 @03:07PM
(#33279237)
"(or working for the federal government, or any level government for that matter)"
I don't think this is right. My small town government isn't going to make any money on trading. Even if we contracted with a company big enough to be public, the contract would be too small to make any impact. Also, most in the military or civilian contractor positions have no real insight into the market moving deals. Nor do they generally have the capital to really take advantage.
It's the high level officials and bureaucrats that need to be restricted, not the rank and file.
Re:Washington Officials Traded Stocks with Exquisite Timing
by foobarian on Thursday October 20, 2022 @04:04PM
(#33279981)
You could argue the high level officials will find a way around any restrictions anyway, so all you will do is punish the rank and file no matter what.
I don't think this is right. My small town government isn't going to make any money on trading. Even if we contracted with a company big enough to be public, the contract would be too small to make any impact. Also, most in the military or civilian contractor positions have no real insight into the market moving deals. Nor do they generally have the capital to really take advantage.
It's the high level officials and bureaucrats that need to be restricted, not the rank and file.