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If she’s investing at the same time you’re getting the information, she missed the best time to buy. She might have hedged her bets and bought early
Fun fact: Congresspeople can legally inside trade, but the rest of us cannot.
That’s not true. It’s still illegal even though they get away with it. You’re thinking of ~~bribery~~ lobbying.
According to the STOCK Act of 2012, they could be brought up on charges for a trade performed after gaining knowledge of a pending change in legislation that would affect the value of a stock, prior to the legislation being publicly enacted. The SEC just hasn’t charged them.
What they do is not legal, they just live above the law.
If everyone doing it gets away with it, then is it actually illegal?
Yes. It is. They just need to be arrested and prosecuted. I agree that it should be taken more seriously, considering that it’s against the law.
No one has ever been prosecuted in the decade and change that it has been illegal, despite frequent violations.
That doesn’t change the law. It’s simply evidence that Congress lives above it. Seven Democrat Senators cosponsored a bill in September to ban the practice entirely. It died at introduction.
https://www.congress.gov/bill/118th-congress/senate-bill/2773/all-actions-without-amendments
Oh you sweet summer child.
Now you’re wrong, and condescending. Lol
You have a philosophy around what laws are and what they mean that is incongruent with reality.
What is the word we use when people have believes that don't match up with the previous or future state of things?
Laws on paper are only one aspect of what a law is. How those laws are interpreted and how they are enforced matter far, far more. Law is what is applied and enforced. If something is a 'law' but is not enforced, then its not really law.
And its fine that you have a different philosophy around what the law means. I just don't find it particularly useful because it doesn't predict the past, present, or future states of the world.
In other words:
spoiler
People who don’t understand the problem typically have little success in fixing it. You should consider reading more.
While I’m flattered that you’d take the time to make a meme for me, it probably would’ve taken you far less time to research insider trading law as it applies to members of Congress.
I’ll give you a little head start.
https://en.wikipedia.org/wiki/STOCK_Act
https://www.forbes.com/sites/insider/2020/05/26/how-senators-may-have-avoided-insider-trading-charges/
You make it easy considering you are making my points for me. If you are trying to make a point about hubris by just being more arrogant, what exactly is the argument you are making?
And on that, you haven't outlined anything that's worth even discussing. I made the argument that laws are only as meaningful as they've are applied. Its likely you don't even recognize the assumptions of your argument being an extension of legal positivism, theoretically described by legal philosophers like Austin and Hart. But the problem with Austin and Hart? Their philosophy (legal positivism) doesn't predict the past, the future, or even the present. Legal positivism isn't how the world works. To quote Oliver Wendell Holmes Jr. "The life of the law has not been logic; it has been experience."
This is called legal realism for those in the cheap seats, and its an effort to understand the law as its applied: which is to say, to understand the law as it actually works.
Whats on the books is irrelevant. What matters is what happens. It doesn't matter if there is a law preventing anything if it doesn't get applied.
Edit response to your edit response: Please, keep showing me that you don't understand what you are talking while you make my points for me.
Martha. Stewart.