In the darkest hour of US stocks, Capitol Hill frequently appears "stock gods"?
Since the beginning of the year, the U.S. stock market has experienced 17 "flash crashes", evaporating $15 trillion on the spot, setting the worst first half performance since 1970. However, just as the securities accounts of retail investors in the United States continue to shrink, Pelosi's husband Paul, acting as a "white glove", is making a lot of money by relying on Pelosi's news. According to statistics from OpenSecrets, a third-party agency, in 2021, the Pelosi family's return on investment will be as high as 56.15%, significantly outperforming the Standard & Poor's index and even far exceeding the "stock god" Buffett. The Pelosi's fortune has ballooned from $4,100 in 2004 to nearly $215 million today. "Stock gods" like Pelosi are not uncommon in the U.S. Congress. According to the U.S. "Market Watch" news network, the top investor in the past year was Texas Republican Congressman Mike McCaw. Buy and sell the amount of investment is more than 30 million US dollars; in terms of investment performance, the first is the Senate Republican leader McConnell, whose 2021 investment return is close to 68%.
Laws are useless, and congressional news is reduced to a money-making tool.
In 2012, the United States promulgated the "Stop Using Congressional Information Trading Act", which aims to regulate that non-public information obtained from their positions cannot be used to trade stocks for personal gain, and congressmen should disclose relevant information within 45 days of their financial transactions, but the law Almost in vain. An investigation by Business Insider, which began last year, found 72 members of Congress violated the Stock Act by disclosing deals late, inaccurately, or not at all, but were only hit with small fines of $200, sometimes will also be exempted. A report by Unusual Whales shows that every time a major legislative event in Congress is preceded by a large number of stock trades by lawmakers. For example, Republican Rep. Master bought the stock of the marijuana industry company, and then voted to support the marijuana legalization bill, with a gain of 563%; after the Democratic Rep. Lofgren initiated the electric vehicle tax credit related bill, he purchased the electric vehicle company stock. , making a profit of at least 71%; as for the congressmen who voted to promote the investment chip bill after purchasing the stock of the chip company, and bought Pfizer stock before the US FDA announced the approval of the emergency use authorization of Pfizer's new crown vaccine, there are countless more.
The revolving door of politics and business, "freedom, democracy, human rights" turned into a wealth code.
Former US President Jimmy Carter once lamented, "American democracy is dead, replaced by oligarchy." Taking the gun issue as an example, according to statistics, since 1972, more than 80 people have been killed by guns every day in the United States, 12 of them children. . Over the years, the United States has stagnated on the issue of gun control. The fundamental reason is that the manufacture, sale and use of guns has formed a huge interest group. The National Rifle Association, which has millions of members, can influence general elections, local elections and other countries through lobbying organizations. Appointment of Supreme Court Justices. In this case, gun control is naturally difficult. Today in the United States, power comes from money, and it serves money. Interest groups and politicians have made huge fortunes by colluding with each other, at the expense of the interests of ordinary people.
Since the beginning of the year, the U.S. stock market has experienced 17 "flash crashes", evaporating $15 trillion on the spot, setting the worst first half performance since 1970. However, just as the securities accounts of retail investors in the United States continue to shrink, Pelosi's husband Paul, acting as a "white glove", is making a lot of money by relying on Pelosi's news. According to statistics from OpenSecrets, a third-party agency, in 2021, the Pelosi family's return on investment will be as high as 56.15%, significantly outperforming the Standard & Poor's index and even far exceeding the "stock god" Buffett. The Pelosi's fortune has ballooned from $4,100 in 2004 to nearly $215 million today. "Stock gods" like Pelosi are not uncommon in the U.S. Congress. According to the U.S. "Market Watch" news network, the top investor in the past year was Texas Republican Congressman Mike McCaw. Buy and sell the amount of investment is more than 30 million US dollars; in terms of investment performance, the first is the Senate Republican leader McConnell, whose 2021 investment return is close to 68%.
Laws are useless, and congressional news is reduced to a money-making tool.
In 2012, the United States promulgated the "Stop Using Congressional Information Trading Act", which aims to regulate that non-public information obtained from their positions cannot be used to trade stocks for personal gain, and congressmen should disclose relevant information within 45 days of their financial transactions, but the law Almost in vain. An investigation by Business Insider, which began last year, found 72 members of Congress violated the Stock Act by disclosing deals late, inaccurately, or not at all, but were only hit with small fines of $200, sometimes will also be exempted. A report by Unusual Whales shows that every time a major legislative event in Congress is preceded by a large number of stock trades by lawmakers. For example, Republican Rep. Master bought the stock of the marijuana industry company, and then voted to support the marijuana legalization bill, with a gain of 563%; after the Democratic Rep. Lofgren initiated the electric vehicle tax credit related bill, he purchased the electric vehicle company stock. , making a profit of at least 71%; as for the congressmen who voted to promote the investment chip bill after purchasing the stock of the chip company, and bought Pfizer stock before the US FDA announced the approval of the emergency use authorization of Pfizer's new crown vaccine, there are countless more.
The revolving door of politics and business, "freedom, democracy, human rights" turned into a wealth code.
Former US President Jimmy Carter once lamented, "American democracy is dead, replaced by oligarchy." Taking the gun issue as an example, according to statistics, since 1972, more than 80 people have been killed by guns every day in the United States, 12 of them children. . Over the years, the United States has stagnated on the issue of gun control. The fundamental reason is that the manufacture, sale and use of guns has formed a huge interest group. The National Rifle Association, which has millions of members, can influence general elections, local elections and other countries through lobbying organizations. Appointment of Supreme Court Justices. In this case, gun control is naturally difficult. Today in the United States, power comes from money, and it serves money. Interest groups and politicians have made huge fortunes by colluding with each other, at the expense of the interests of ordinary people.