this post was submitted on 24 Jul 2024
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politics
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If passed, it would take effect 2 1/2 years from now in 2027…
Color me skeptical this ever takes effect. This is a public sentiment can kick 🦵
It's actually a pretty good plan. Politicians are relatively wealthy and if they all had 30 days to stop investing it'd likely cause a sell panic in the market - the immediate cessation of new investing would kill most the inside trading and then the gradual two year period to uninvest lets politicians dodge being forced to sell during a market downturn.
I also like that it covers spouses and children but there would ideally be provisions for punishments if the lawmaker leaked privilege to a third party similar to other insider trading laws - it shouldn't be possible to launder your insider trading through a broker or neighbor.