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4 comments
Minor problem that her trades are only publicly released 45 days later
Technically it is in 45 days, in average of last year, it is about 2 weeks.
https://pelositrade.com/politicians-trades/1d0c4282-521f-516...
https://pelositrade.com/politicians-trades/1d0c4282-521f-516...
Still too long. She could very well be in and out of a position by the time she legally has to disclose that she or her husband made a trade.
What needs to happen is upfront disclosure pre-trade. "Today I was in a classified briefing regarding industry ABC and an upcoming contract bid between these companies. Tomorrow I will be purchasing n# shares of XYZ stock within this price range. I plan to hold it for at least x# of months/years and will write option contracts against my position" Would this obviously spike volatility and cause a buying/selling spree for that security? Yeah. Would it force lawmakers to divulge classified information? Probably (but hey, for congress it's legal under the speech and debate clause). But that's what we've come to, unfortunately.
If congress doesn't want to do that, they and their families need to be outright banned from owning anything besides index funds.
Another option is that they and their families are banned from trading options contracts (both buying and selling) that have any less than a 2 year date until expiration, and they have to disclose each trade within 24 hours. If they are in politics to help the country long-term, they should have no problems with this.
What needs to happen is upfront disclosure pre-trade. "Today I was in a classified briefing regarding industry ABC and an upcoming contract bid between these companies. Tomorrow I will be purchasing n# shares of XYZ stock within this price range. I plan to hold it for at least x# of months/years and will write option contracts against my position" Would this obviously spike volatility and cause a buying/selling spree for that security? Yeah. Would it force lawmakers to divulge classified information? Probably (but hey, for congress it's legal under the speech and debate clause). But that's what we've come to, unfortunately.
If congress doesn't want to do that, they and their families need to be outright banned from owning anything besides index funds.
Another option is that they and their families are banned from trading options contracts (both buying and selling) that have any less than a 2 year date until expiration, and they have to disclose each trade within 24 hours. If they are in politics to help the country long-term, they should have no problems with this.
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