this post was submitted on 24 Jul 2024
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But it goes further than that and forces liquidation of such investments.
So you can't be swayed by your own financial interests, but it also limits greatly your ability to invest in your own future.
Edit: I'm not making an argument, I'm looking at what the proposal would do to see why some think it goes too far.
~~I'm kind of with you.~~
~~I understand the inherent conflict of interest, but that's going to be the case no matter what. If they can't own stock, does that mean they're all going to end up holding real estate and pressured to help that market break more instead?~~
~~I can't imagine removing their legitimate investment options is going to result in people taking less bribes.~~
I've been told lower down that they're still allowed to have mutual funds, so my objections are pretty much gone. That's good enough to have reasonable growth without cheating.
One could make a good argument that their money should be invested in bonds.
That's just off the top of my head though, I'm not a finance guy.
That basically locks any normal person from being able to afford to run for congress.
You can't save for retirement with the growth rate of bonds.
You can with mutual funds though - and those are allowed. It seems well targeted to just eliminate strategic stock picking.
Oh mutual funds are allowed? That wasn't clear from any of the stuff I read.
Yeah that's fine then.
It used to be that a blind trust was deemed acceptable, so what changed? Are they not as blind as advertised?