Why does America have so many politicians that become wealthier after-office than they were before-office?

submitted by stallfedcalf from self.AskSaidIt

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[–]typhoon 9 insightful - 2 fun9 insightful - 1 fun10 insightful - 2 fun -  (11 children)

Insider trading is legal for sitting Congressthieves. They sit in these meetings with heads of industry learning all their deals and secrets. Then buy or sell stocks based on what they learned.

[–]stallfedcalf[S] 6 insightful - 2 fun6 insightful - 1 fun7 insightful - 2 fun -  (2 children)

The ones that make the rules profit the most. Strange concept.

[–]typhoon 6 insightful - 2 fun6 insightful - 1 fun7 insightful - 2 fun -  (0 children)

It's their game. They won't lose.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

It's not strange if you live under evil.

[–]wrongthink 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (4 children)

That was sorta true in the past but it has gotten harder as norms change. There was also a law passed after the 08 meltdown that reigned in the practice significantly: https://en.m.wikipedia.org/wiki/STOCK_Act

As a result most congress critters now just let 3rd parties do their trading while they're in office. This separation is what let multiple critters off the hook when everyone was screaming insider trading back in Feb and March based on selloffs done in Jan and Feb.

[–]typhoon 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Good info. Thanks.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Seems like they simply got more slippery. Worms.

[–]wrongthink 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

That's the thing with rules and guidelines. There's always an incentive to comply with the law in as dishonest a way as you can get away with. Even children do this in the face of rules.

[–]Papitas 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Well, at least they make money while kinda activating economy.

In my country (Mexico) they just steal the public budget money right away.

[–]typhoon 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

They do that here too. Most don't get caught.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

The lavish lifestyle of the west is simply a glass house to point at so that they and say "See! Aren't we just so grand at this? Vote Donkey, or Elephant....doesn't mean a thing to us!"

[–]bagano1 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

The book deals are definitely a way of hiding payoffs. Same for the speeches.

[–]SaidOverRed 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (3 children)

When government decides the winners and the losers in business, guess where the kickbacks flow? Somehow, someway, it will make it to the correct palms. There is not stopping it unless the government stops doing that. And government won't back down while it is fat and bloated.

[–]stallfedcalf[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

Like the u/ btw.

[–]SaidOverRed 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

What's the "u/" ?

[–]stallfedcalf[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Username.

[–]Poop1337 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (2 children)

Trump apparently lost half his net worth during his time in office unlike majority of politicians

[–]stallfedcalf[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

He's also not made a career out of governmental politics.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

He was raised specifically for this, just like Obama, clinton, and bush. Their entire purpose as people were to play this presidential role. They were groomed for their presidential terms and the planned events for those terms.

[–]Tarrock 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (2 children)

The country needs

1)Stronger Insider Trader laws against politicians

2)An income cap of maybe 300-500k a year on politicians that stays on you for life.

3)A dept that audits current and former politicians to make sure that they're not getting gifts and other freebies that go over that 300-500k limit.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

and term limits

[–]Stankmango 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Let's just say they get time off for 'good behaviour'.

[–]cisheteroscum 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Because the system is set up to reward those politicians who cater to the interests of the wealthy and powerful

[–]1hairlessmonkey 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Its called corruption. Glad someone else notices this as well, its infuriating. Even worse when the people don't have the decency to enjoy the spoils in the background, quietly and just trying to go unnoticed like they should do. Hopefully this issue will gain traction and we can have some reckoning like with all these other movements.