Senators Propose BAN on Members Owning Stock

So some news out of Washington. Oh, they’re gonna do more self-policing here, folks. Yep, senators to propose ban on US lawmakers, stock ban. They’re not gonna allow executive branch members from owning stock. Yep, two US senators are set to introduce bipartisan legislation to bar members of the federal executive branch and lawmakers from owning stock in individual companies. Now polling shows, polling shows that there is broad support for this measure. You’ve got Kirsten Gillibrand from New York and Josh Hawley from Missouri. That they would basically, it will allow though, and this is the kicker, this is what I got a kick out of. Okay, can’t own individual stocks, but it would permit the president, vice president, lawmakers, Capitol Hill aides, and employees of the executive branch to own mutual funds. and broad industry and index funds. That’s the route right there. No, you don’t think that there is a bloody index fund to cover almost every industry out there. You don’t think that these, this is great for them. It’s gonna divert attention. The part is gonna divert attention about all up. Now we can’t own individual stocks anymore, but then they’re gonna start trading like crazy. these index funds, again, you got the XLM, let’s talk about the banking index, right? You can go buy the banking index fund. Now, if they’ve got all sorts of rules and regulations that they’re gonna be utilizing or gonna be putting forward the banking industry, and they say it might hurt bank stock prices, they could go out and they could short that index or the vice versa. Before any of this stuff is made public. These index funds are tailored today in such a way that they almost act almost like individual stocks for crying out loud. So this is one big fat nothing. And I don’t say I’m amazed that nobody out there in the media can see right through this BS. Okay, so they can’t own individual stocks, they can still trade index funds based upon insider information. that they have. I can’t do that. I shouldn’t be allowed to do that. Insider trading is, it’s illegal. But again, this is going to allow, it’s gonna allow all these members of Congress to engage in it. I get, listen, some of this BS. This is Kirsten Gillibrand. It’s critical that the American people know that their elected leaders are putting the public first, not looking for ways to line their own pockets. Do you honestly believe that? Yeah. The penalties for government officials who violate the rules, they would have to forfeit any profits and face fines of $10,000 or more. But again, the whole thing is one big fat, food gaze, and again, Josh Holley’s a, you know, I got big time conservative and he’s got a lot of, I’d say it right, Josh, I said, who you trying to kid here, buddy? Who you trying to kid? Okay, again, you want to do a blind trust to a blind trust. I don’t have any problem with that. Okay, but basically this is a get out of jail free card and it’s going to allow members of Congress and the executive branch of government to enrich themselves. I’ll try to put this a different way so you can understand it. Use another sub-reference, another movie. Movie Wall Street, right? Now, Bud Fox tells Gordon, that’s how he got in with Gordon Gekko. He gave him inside information on a court ruling for Blue Star Airlines. Now again, these members of Congress have insider information on legislation that is pending inside the executive branch of government. All of those acronym agencies, they know what’s going on. You know, again, you don’t have to, let’s say if the FTC is going after the Activision, Microsoft Activision deal, which they did and they lost, but there’s certainly a way you can trade that via index funds without having to own those individual stocks. Now you remember, you know, Gordon Gekko, after he got the information on Blue Star Airlines, he wanted Bud to get him more information. He says, I only bet on sure things. So what did Bud Fox do? Larry followed Sir Larry Wildman there, it was Andercott Steel. And then he bought the janitorial business so he could go inside law firms and find out all of that information. Congress has it all. They have it all, okay? They can move markets, they can move stock prices, they can do a myriad of different things, and they all know. Sure, okay, not gonna be able to play it with individual stocks, but they can sure play it with index funds. Watchdog on wallstreet.com.