For Congress to be able to sell their stocks before a crash, without triggering a panic (prior to the date that they want people to panic). In other words, lawmakers protecting their own wealth.
The headline is misleading. They seek to prohibit Congress members “from trading or owning” stock. Presumably, this would require a sell off.
So, if it passes, you might consider getting out of the market.
But, you also might consider that I’m not someone who you should take market advice from. I got out in March 2020, which was far too early.
So, don’t “take it from me.” Take it as food for thought.
Call me a cynic, but when the most corrupt people in the world suddenly show a splash of altruism that purports to limit one of the primary wealth benefits of their position, I get suspicious.
I understand that the issue is supposedly phrased as dems trying to “get” repubs. That’s meaningless. This is an issue on both sides of the aisle, and historically the dems have been much worse.
There are people in the Congress who have gotten incredibly wealthy on their modest salaries, and many of them by playing the market. If those powerful people don’t shut this proposal down, then something very fishy is going on.