Congress; Conflict of Interest

[Fins4ever]

Maybe my M-I-L is right. All of them are no good crooks. She is 90 and last voted for Kennedy. She could be right!

As I said in another thread, if you hold a position in the government to make or vote on rules and laws that affect any type of business, you should be barred from owning stock in that industry. 

This goes for Republicans, Democrats, Independents and residents of Mars! 

http://www.masslive.com/politics/index.ssf/2012/07/sen_scott_brown_fighting_again.html

[Spider-Dan]

Good move by Sen. Brown.  Hopefully this can get passed.

His opponent, Elizabeth Warren, thinks that members of Congress should not be allowed to own stock at all.  While I would tend to agree, such a proposal would never actually go into law.

[Fins4ever]

Good move by Sen. Brown.  Hopefully this can get passed.

His opponent, Elizabeth Warren, thinks that members of Congress should not be allowed to own stock at all.  While I would tend to agree, such a proposal would never actually go into law.

Warren, Warren, oh yeah! She is the lady who suddenly claims to be 1/32 Native American because she has high chin bones or something like that. Pretty funny.

http://www.csmonitor.com/USA/Elections/Senate/2012/0602/Cherokees-hammer-Elizabeth-Warren-on-ancestry-claim-ahead-of-Mass.-party-convention

You are right, Congress would never pass a law that would not benefit them. 

[Spider-Dan]

If your goal is to derail your own thread, I guess I should start bringing up completely unrelated facts about Scott Brown now.

Do you think Warren's proposal is a good idea?  She has already stated that if elected, she will immediately sell all stock she owns.  Setting aside the prospect of codifying something like that into law, do you think that such a honor standard (much like presidential candidates releasing tax returns) is a good idea?

[Fau Teixeira]

From what i've seen of warren and from what I've seen of her speaking. I like her .. alot actually. So good job Elisabeth Warren, keep it up.

[MyGodWearsAHoodie]

Do you think Warren's proposal is a good idea?  She has already stated that if elected, she will immediately sell all stock she owns.  Setting aside the prospect of codifying something like that into law, do you think that such a honor standard (much like presidential candidates releasing tax returns) is a good idea?

No, I think it is a bad idea. 

What I do think is a good idea is prohibiting reps and senators from actively trading stocks.  And requiring they disclose their holdings when running for office.

What would be allowed (not considered actively trading) (1) keep what you own (2) buying stocks thru a DRIP.  (3) Setting aside a fixed amount per month to buy shares in a mutual fund.