It is amazing how many opinions there are out there... :-)
It will be interesting to see what happens.
Raising social involvement, self awareness and self improvement topics, because our communities are the sum of our personal beliefs, behaviors, action or inaction. Only "we" can improve our family, work place, school, city, country, etc.
4 comments:
I am bullish because I believe the stock market is rigged to go up. But that belief or faith maybe, does get challenged.
There have been proposals late to ban trading and maybe even ownership of stocks by elected officials. I am skeptical of those proposals for a number of reasons. One of them is that in our system of government the party out of power has the capability of wrecking or at least doing substantial damage to the economy, and derive political advantage from it. For those who belive in incentives, that is a particularly perverse one. One way to limit that is to allow politicians to own stocks. This mitigates or even reverses the perverse incentive. Sometimes it's a good thing to be in the boat as everyone else.
--Hiram
Good point.
Though if they have "insider / confidential" information that the market does not have.
They may sell their leaky boats...
What inside information is highly problematic. I see arguments out there that congress people knew about the virus. Well, they could have gotten that information by watching CNN. some investors are better informed than other investors, but that doesn't mean the information is inside. If somebody gets very specific, very confidential, information in circumstances where there is confidentiality, I suppose I might have a problem, but I doubt if that really happens very often.
What is far more of an issue for me is when politicians get lucrative deals because of their public service. I didn't like it all when Hillary got huge payoffs for speeches to bankers when she was technically out of politics. They looked like bribes to me. Andrew Curomo's huge book deal is another example. But we have agreed to accept that so I guess we just have to move on.
--Hiram
Well knowing who is going to get government contracts before they are announced is one excellent example.
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