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Discussion (101 Comments)Read Original on HackerNews
This and the title are journalistic malpractice. This is an article designed to report on obvious insider trading, and the writer clearly knows and agrees that it's obvious, but goes out of their way to throw in concessions and a build a veil of neutrality. You are legally allowed to accuse public officials of crimes. You do not have to gesture at "looming suspicions." A neutral reporting of the facts would make such an accusation, and tie it into the broader pattern of criminality. But it's more important to perform neutrality than to be honest, so we get this garbage. "Mr President, would you please comment on the allegations that-" "Shut up, piggie."
https://en.wikipedia.org/wiki/Presumption_of_innocence
… but you've explained it more thoroughly.
Otherwise how could you stop it? It’s not like when you work at big co and you just stop trading their stock. You get access to information that clearly will be material potentially months in advance.
Those should fix most of the problems with time.
Sometimes managers will only hire through staffing agencies owned by family friends and get indirect kickbacks.
When I first heard about this my initial question was how do they not get caught when the assets are gifted or transferred to the manager's name. Turns out they don't actually transfer the assets to their name but they effectively own it through free usage.
We got rid of it last year.
Stock market at all time highs
Miami houses selling north of $150,000,000.00
No one cares about that crisis anymore
The markets keep ripping no matter what
Just some hiccups along the way
This administration highlights why the pardon provisions of the constitution need amendment.
I would be more interested to know if the traders had insider knowledge of timing of the announcement or if it was leaked.
1. The Supreme Court is not some neutral arbiter of a hallowed intractable document. They are political actors. Just like history books now write about the disastrous Court of the 1850s that went completely off the rails (Reconstruction wasn't much better), history will likewise write about the Roberts court as (IMHO) the worst in American history, particularly Citizens United and Trump v. United States. The latter is most directly responsible for all of this. There is now absolutely no prospect of consequences for any of this. The president himself is immune and is now free to openly sell pardons for anyone gets indicted. And let's be real, nobody is getting indicted. This is brazen, unfettered kleptocracy; and
2. The Democratic Party itself, the donor class and the consultant class is completely on board with everything that's happening.f The term here is controlled opposition. Now you just feckless pronouncements like "Trump bad" but, for example, no objection to policy. Instead the objection is to process. For example, Hakeem Jeffries saying Congress should've authorized the Iran War. That's not an objection to the war. The Democratic establishment likes the war. All of these political careers are just stepping stones to their eventual private industry paydays. It's their children getting fake jobs at thinktanks, management consultancies, lobbying firms and so on.
My personal opinion is that nothing will be solved. It's too late to do anything about this with electoral politics. Democratic politicians and the mainstream media has spent more effort attacking Hasan Piker in the last month than attacking Trump's foreseeably disastrous war or outright corruption with insider trading and pardons.
This feels like a "So long and thanks for all the fish" moment.
Princeton did a study on the effect of public opinion on what Congress does, specifically the impact of popularity of a bill passing and it actually passing [1]. It should surprise no one that public opinion has almost zero impact.
[1]: https://act.represent.us/sign/problempoll-fba
Did he say, "Congress should have authorized the Iran War," or did he say "Congress should have to authorize the Iran War." Those are two very different statements.
More to the point, did he say he would personally vote to authorize the Iran War? Did he say Democrats should vote to authorize the Iran War?
I've seen this pattern many times in the last decade:
* Conservatives: "I don't get it, why aren't they defending their team against my critique? Are they not loyal?
* Liberals: "I don't get it, why won't they acknowledge when Their Team does something bad? Don't they have any principles?"
And even if that framing was accepted: okay, now we "talk about the other side", but then anything said could be countered with something about this side. It's not pointing out anything relevant, it's rather wiggling a laser pointer.
I mean Pelosi has a higher rate of success as a stock picker than Warren Buffet.
> That line of argument isn’t new
Why are points raised previously invalid?
> and is often associated with pro-Kremlin narratives
I could write "pro-Kremlin narratives are associated with the Russiagate hoax" but that would be childish.
Both Trump and Pelosi and all of congress doing insider trading all shows the complete corruption in US politics in the open.
It's just that one of them is better at hiding it.
Trump set a stratosphereic high bar for examples par excellence, I doubt all of Pelosi's husband trades add up to a signifigant fraction of Trump's crypto gains alone.
So it's worthwhile to note that both major political parties believe this is acceptable.
The BBC is not exactly known for unbiased reporting. It's been accused of systemic anti-Trump bias, including the misleading 2024 Panorama edit of his Jan 6 speech for which the network was forced to apologize.
Again, proof or evidence? No direct names mentioned of insiders, or any leaks traced. I do not see it. The BBC cites trade volume spikes that were timed to the announcements and analyst opinions. But is that not how Forex and Future exchanges/trades work? Are they not driven by geopolitics? If anyone is calling for a SEC probe, then the investigation should start with the entire congressional body. If it were me, I would start by enacting term limit legislation for senate and house. I'd then start speaking to any politicians that have been expelled out or sacrificed by their own political parties. I'm sure they'll have a rather good story to tell. It will be interesting to see how many of these people will be open to public hearings on the matter.