The General
Footballguy
Have you looked at the tech sector since March 31
MSFT is tailing two of my tech focused ETF's and inline with GOOG, AMZN. AAPL etc. But this maybe 2 billion dollar year is what moved the markets. What a joke.
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MSFT is tailing two of my tech focused ETF's and inline with GOOG, AMZN. AAPL etc. But this maybe 2 billion dollar year is what moved the markets. What a joke.
Doesn’t matter what the market did. It’s having insider knowledge. You can’t possibly be this dense.Have you looked at the tech sector since March 31
MSFT is tailing two of my tech focused ETF's and inline with GOOG, AMZN. AAPL etc. But this maybe 2 billion dollar year is what moved the markets. What a joke.
I find phrases like “fair share” and “wealth disparity” to be unproductive to the tax discussion. If I give you $1 and I give somebody else $2, I’ve created “wealth disparity.” Yet you are $1 richer.
fatguyinalittlecoat
Footballguy
Members of Congress should not be allowed to own individual stocks. They can own stocks as part of a mutual fund. Elizabeth Warren has this in her ethics bill but it’ll never pass.
The Big Donkey
Footballguy
tbh, i'd extend that to immediate family members as well. i don't have a lot of faith in them policing themselves though.
The General
Footballguy
You said the Microsoft rose on this. All tech rose since March 31. Do you have any idea how the markets work? It doesn’t seem like it. This is like a talking to a child.
The General
Footballguy
You said some nonsense about “an article” stating that Microsoft rose because of this.
All tech has risen since March. Microsoft revenue was like 140 !Billion last year.
Microsoft isn’t some start up, it always goes up.
It’s hilarious to me that you are suddenly concerned about this.
The General
Footballguy
Just look up the thread.
This government contract was the lynch pin that moved the market
They bought RBLX one of the most anticipate IPOs of the year :gasp:
The Commish
Footballguy
Drunken Cowboy
Footballguy
I would go even farther. I would say they can invest in a fund managed by a neutral government official.
The General
Footballguy
fatguyinalittlecoat
Footballguy
I’m sure they could put rules in place the same way spouses can’t accept certain gifts.
Leroy Hoard
Footballguy
Truly amazing how often that guy is proven wrong.Just look up the thread.
This government contract was the lynch pin that moved the market
They bought RBLX one of the most anticipate IPOs of the year :gasp:
Unable to provide a link because the only person who said the government contract changed the market was him. Even bigger red herring is RBLX. Most anticipated IPO - LMAO.
The General
Footballguy
fatguyinalittlecoat
Footballguy
Part of the reason to have the rule is to eliminate even the perception of impropriety.
The General
Footballguy
The General
Footballguy
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The General
Footballguy
It's a tricky situation for sure. I'd lean towards the blind trust or making all their trades public.
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Keep throwing out strawmen. But to be fair, you're probably just not smart enough to grasp why it would be insider trading.The article by the way doesn't say what you said is the great part
22 billion dollar contract is upwards of 15% of Microsoft's revenues volume per year. Given the fat on those contracts it could be it could be 20-25% of their profits. They are selling VR headsets to the government at 180k a pop.
But you didnt know nor do you understand any of that. Your keep focusing on what happened to the tech stocks in the past year and RBLX.
The General
Footballguy
For ####s sake. It's a contract that perhaps could be worth up to 22 billion...over 10 years. Please update your math.Keep throwing out strawmen. But to be fair, you're probably just not smart enough to grasp why it would be insider trading.
22 billion dollar contract is upwards of 15% of Microsoft's revenues volume per year. Given the fat on those contracts it could be it could be 20-25% of their profits. They are selling VR headsets to the government at 180k a pop.
But you didnt know nor do you understand any of that. Your keep focusing on what happened to the tech stocks in the past year and RBLX.
You highlighted this article (incorrectly) attributing the rise in MSFT since that date to this contract - it didn't it simply was stating that the stock was up since that date. All tech stocks have risen since this date. Microsoft is inline with all tech companies. Common Tech ETF's are doing much better over this period. Do you understand?
You then said Roblox wasn't highly anticipated. It was, very much so. Sorry you missed out.
I think you are preoccupied trying to call people stupid to read this stuff perhaps.
The General
Footballguy
I love how you just blow past all your other crap. Good stuff.I hope you invested the farm in RBLX.
The Big Donkey
Footballguy
neither of those eliminate the perception though, the trust in politicians is an issue, IMO.
The General
Footballguy
I get it. Blind trust unless I'm missing something works for me, or making all their trades public.
Having these people completely unable to participate in the markets is too much. I'd be in favor of greater focus and scrutiny of their trades and investments.
Summer Wheat
Footballguy
Biden to the PM from Japan. " And we have a Japanese boy coming over here and guess what ..he won The Masters" The PM from Japan looked at Biden like..what? Hideki Matsuyama is 29 years old.
rockaction
Footballguy
Bad, but it could be worse. He could be media-savvy, woke, and use his wokeness as a cudgel against people. As it is, he has no real leg to stand on. Like the time he asked the handicapped gentleman to stand up and be recognized.
"Oh, God love ya..." said Biden.
He's always been a smooth, smooth operator.
IvanKaramazov
Footballguy
The fact that so many members of congress pick their own stocks would normally make me even more cynical about the quality of our government -- have these people never heard of the efficient market hypothesis?
It's ironically a little relieving to realize that they're just crooks and not actually that dumb.
But I agree. They should all be herded into mutual funds, and then we should refuse to seat the nimrods who choose actively managed funds over index funds.
If people in Congress want to own stocks, they should own index funds.
Publicizing their positions won't do anything. Half the country thinks insider trading by people in thier party makes them smart.
Didn't the two Republican Senatorial candidates from Georgia trade on covid-related inside information? I realize they lost, but I don't think that's why. People didn't seem to care.
Publicizing their positions won't do anything. Half the country thinks insider trading by people in thier party makes them smart.
Didn't the two Republican Senatorial candidates from Georgia trade on covid-related inside information? I realize they lost, but I don't think that's why. People didn't seem to care.
Mile High
Footballguy
People mostly care about things that directly impact their lives. The rest is mostly noise.
IvanKaramazov
Footballguy
My recollection is that this was a huge deal for like five minutes, and then we all moved on to the next outrage. It was the Trump era, after all.
The General
Footballguy
Why should this be a concern? If people want to think this so be it.
There were a handful of people whose trades were being questioned (one of them was Loeffler, I don't remember if the other guy was being looked at). Burr from NC who was the chair of the Intelligence Committee was the one that seemed the most fishy. He sold a bunch of, IIRC, travel related stocks while reportedly telling some well connected donors this was a potential ####storm coming our way. Publicly he continued to tell everyone we were good. He could just as easily have sold off Index funds if his inside info was telling him to get liquid. He did something like 25 trades in a day for a couple million. By looking at his trading history you could see if this was unusual, you could know the timing of intelligence he received, etc.
Scrutinizing their trades or if you want to really limit this a blind trust seems the most realistic way to handle this.
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rockaction
Footballguy
I cared about the COVID-related trading enough to like fatguy's post and remember what had happened when it was brought up by him, but I forgot the specifics, because, like Ivan said, when it came to politics, we were worried about other things including and up to peaceful transfers of power from an unusually antagonistic and possibly corrupt administration to a hopefully normal one. At the time that it happened, COVID was so new that we (and the news we consume) were also worried that if you touched a surface that you would die, so people at that particular time had other stuff on their mind rather than Congressional reform.
The only problem I see with limiting what stocks people who serve in Congress can hold is the constitutionality of that restriction under the right to work doctrine. It strikes me as a denial of certain basic fundamental rights in that sense. I could be way off base, but it doesn't seem to pass a smell test in that regard.
The only problem I see with limiting what stocks people who serve in Congress can hold is the constitutionality of that restriction under the right to work doctrine. It strikes me as a denial of certain basic fundamental rights in that sense. I could be way off base, but it doesn't seem to pass a smell test in that regard.
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Amused to Death
Footballguy
Biden to Republicans: Show me your infrastructure plan
President Joe Biden challenged Republicans on Monday to offer their own alternative to his $2 trillion-plus infrastructure proposal, saying he’s open to looking at any idea that has bipartisan support and a way to pay for it, people who attended an afternoon White House meeting with lawmakers said afterward.
“The president challenged Republicans who said they're not comfortable with the corporate tax increase,” Rep. Norma Torres (D-Calif.), who attended the meeting, said in an interview. She quoted Biden as saying, “I want you to come to me and put a plan on the table — a real plan with a pay-for, and what you call infrastructure.“
Torres said Biden declared himself “open to hearing all proposals that are delivered to his desk, and that's what he challenged us“ to do.
Biden told Republicans to come back to him with a proposal by mid-May, Rep. Carlos Giménez (R-Fla.) said.
President Joe Biden challenged Republicans on Monday to offer their own alternative to his $2 trillion-plus infrastructure proposal, saying he’s open to looking at any idea that has bipartisan support and a way to pay for it, people who attended an afternoon White House meeting with lawmakers said afterward.
“The president challenged Republicans who said they're not comfortable with the corporate tax increase,” Rep. Norma Torres (D-Calif.), who attended the meeting, said in an interview. She quoted Biden as saying, “I want you to come to me and put a plan on the table — a real plan with a pay-for, and what you call infrastructure.“
Torres said Biden declared himself “open to hearing all proposals that are delivered to his desk, and that's what he challenged us“ to do.
Biden told Republicans to come back to him with a proposal by mid-May, Rep. Carlos Giménez (R-Fla.) said.
Thunderlips
Footballguy
That's how a leader leads.
Hopefully the Republicans will have a good plan that will accenuate the Democrats plan for the betterment of American citizens. I don't have much faith in that, as I feel it will be rife with pork/unreasonable demands not relevant to infrastructure......but it's good to see Biden reaching out.
The General
Footballguy
Mid-May? Don’t they have a plan from the Trump years ready to go
Dust that thing off and we can work from there.
Amused to Death
Footballguy
Yup, don't complain about it unless you can offer us something better. Show us something else to consider.
Amused to Death
Footballguy
The thing is, I don't believe the Republicans cared much for Trump's plans either. They weren't rushing to get it passed when they held a majority in both chambers. And they don't seem to offer up much in the way of their own ideas. At Joe's giving them a chance to show him something.Mid-May? Don’t they have a plan from the Trump years ready to go
Dust that thing off and we can work from there.
The General
Footballguy
Yup. Here's an opportunity for Mitch and Kevin to present their deals.
Did anyone ever see Don's plan? I just know of the running "infrastructure week" joke.
NorvilleBarnes
Footballguy
NorvilleBarnes
Footballguy
Biden administration getting sued for discriminating against farmers (for financial aid) based on race. 
shadrap
Footballguy
err, based on votes. IMOBiden administration getting sued for discriminating against farmers (for financial aid) based on race.
Sand
Footballguy
I guess inside the first 100 days Biden finally did something I'm in 100% agreement on - IRS cash infusion to bolster audits. I always thought it was shortsighted to cut IRS funding by the red team (though I fully understand and sympathize with the reason - the blue team unequivocally used the IRS as a political weapon, which was unconscionable).
All taxpayers should pay their legally required share under the law.
All taxpayers should pay their legally required share under the law.
Sand
Footballguy
I may need to temper this kudos. From my understanding the head of the IRS said 25B was enough. 80B may be excessive.
Somehow I doubt the admin looked at a marginal revenue projection to see if the expenditures at that level have a positive ROI. At some point it goes from high ROI to just citizen harassment.
Sand
Footballguy
Good question - who's behind the curtain? Probably not John Kerry - he seems to be too busy colluding with Iran.
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