this post was submitted on 29 Oct 2023
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A Boring Dystopia
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Isn't insider trading literally illegal tho?
Technically, yes, per the STOCK Act. But there's a loophole for Congress.
It doesn't count as "insider trading" for them if the information they use is based on bills they are passing as a part of their job.
Democrats have repeatedly tried to pass a law to ban this loophole as well, such as Adam Schiff from January of this year, but Republicans always vote such bills down or have them die in committee.
That sounds like we should follow Congress' stock trades for our own benefit. I bet there's a tracker out there since all that is supposed to be public information.
Yeah but that would be insider trading /s