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I guess I must be dense but I don't see how anyone is "bribed".
Lets say Congress says they are working on legislation to police AI in the future and they need information from the various companies. They are given the information (possibly under threat of anti-trust or federal trade law suits) and some individuals use that information to trade. Yes I think Congress should be prohibited from that activity but I don't see any bribes.
As far as Greenwald's outrage about some one making 200% on his portfolio.........Big deal ! What you aren't told is the value of the asset the member of congress bought. Without that context it is nothing more than propaganda. Brian Higgins could have bought ten dollar's worth of some penny stock and sold it for 30 dollars. Now he has a 200% gain.
The fact is that he bought Nvidia in 2017 and Unusual Whales ESTIMATED what his portfolio is worth. It says so right at the top of that graphic that Greenwald shows. Back in 2017 NVDA was trading anywhere from 24 to 175 dollars a share. Higgins has reported in required documents that his portfolio consists of two stocks and the total value is less than 100,000 dollars.
So tell me again where the bribe is.
Absolutely sleazy to use non-public info that you can coerce from companies but that doesn't mean that public companies are bribing legislators. Legislators are corrupt enough without anyone's help
Mean As Nails
Re: Congress Beats the S&P 500
[Re: yukonjeff]
#8081608 02/19/2407:53 PM02/19/2407:53 PM
What's wrong, and is what I've heard Pelosi does is buys into a company she knows they're going to give a contract to or pass a bill that benefits that company.
Re: Congress Beats the S&P 500
[Re: yukonjeff]
#8081609 02/19/2407:55 PM02/19/2407:55 PM
It certainly is . There is a bill that was introduced last year ...Ban congressional Stock Trading Act........I don't know the status of it. But for congress it has not been illegal to engage in insider trading
Mean As Nails
Re: Congress Beats the S&P 500
[Re: yukonjeff]
#8081624 02/19/2408:03 PM02/19/2408:03 PM
Not only are they making money off policy that effects the market, they are also bribed by the companies themselves, getting insider trading info only CEOs are privy to, for policy favors of course. They get their belly scratched and back rubbed at the same time. Total corruption. I am not buying they are making millions off penny stocks lol
I guess they figure if their trading is published somewhere, its not insider trading?
Originally Posted by white17
It certainly is . There is a bill that was introduced last year ...Ban congressional Stock Trading Act........I don't know the status of it. But for congress it has not been illegal to engage in insider trading
So I don't get it. That link Hippie posted says it is illegal I think?
~~Proud Ultra MAGA~~
Re: Congress Beats the S&P 500
[Re: yukonjeff]
#8081632 02/19/2408:09 PM02/19/2408:09 PM
Of course they aren't making millions on penny stocks. That was my example to indicate how deceptive the video is because it provides no context as to asset values.
Is it really so outrageous that a member of congress..or anyone else.............. owns a hundred thousand dollars worth of a stock he bought 7 years ago ?
Mean As Nails
Re: Congress Beats the S&P 500
[Re: spjones]
#8081641 02/19/2408:18 PM02/19/2408:18 PM
What’s everyone’s predictions on Nvdia’s earnings on Wednesday??
I’m leaning bust,,,,
You're certainly leaps and bounds more knowledgeable on this topic than I am, but my guess is that they will either make or exceed the estimated earnings.
~~Proud Ultra MAGA~~
Re: Congress Beats the S&P 500
[Re: white17]
#8081649 02/19/2408:26 PM02/19/2408:26 PM
Is it really so outrageous that a member of congress..or anyone else.............. owns a hundred thousand dollars worth of a stock he bought 7 years ago ?
Yes its outrageous, It Should be illegally for congress to trade, but I believe they allow insider trading for themselves, but not us. Who told you they were all bought seven years ago ? I dont buy that either. Many have been in congress decades anyway.
What’s everyone’s predictions on Nvdia’s earnings on Wednesday??
I’m leaning bust,,,,
You're certainly leaps and bounds more knowledgeable on this topic than I am, but my guess is that they will either make or exceed the estimated earnings.
I think it could be a market moving event either way.
I suspect that if they just meet expectations things will start downhill. On the other hand things could get even more detached from reality than they are already. Either way I'm sitting on my hands until the smoke clears
Mean As Nails
Re: Congress Beats the S&P 500
[Re: yukonjeff]
#8082044 02/20/2412:56 PM02/20/2412:56 PM
Well I guess Nvidia beat the expectations. Seems unreal to me that any companies EPS could increase 765% in one year. Sure wish I'd bought some of that a year ago, lol. How long can this insanity go on? Not just Nvidia but the market in general.
~~Proud Ultra MAGA~~
Re: Congress Beats the S&P 500
[Re: yukonjeff]
#8083119 02/21/2407:37 PM02/21/2407:37 PM
Over the summer/fall there was a lot of talk of China invading Taiwan
In October congress pass legislation “limiting” chips being sold to China
Nvda was getting beat up prior too the bill passing(China is a big part of their business). After the bill passed NVDA mysteriously marched/climbed too record highs,,,,, Nancy started her position,,, The public learned about it in December(she may of started it in Oct)
During the earnings call tonight, they revealed that sales to China are down a little,, but not much
She knew ahead of time the “restrictions” weren’t going to have a meaningful impact,,, and profited HUGE
She does this all the time,,,,,
I’m jealous!!!
Re: Congress Beats the S&P 500
[Re: yukonjeff]
#8086785 02/26/2404:35 PM02/26/2404:35 PM
I'm a put seller not a call buyer. But that will still work for me. Those are pretty deep in the money already so she likely doesn't have inside info. Probably her husband making the trade
Mean As Nails
Re: Congress Beats the S&P 500
[Re: yukonjeff]
#8086823 02/26/2405:40 PM02/26/2405:40 PM