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 -  (4 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.

[–]wrongthink 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (3 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.

[–][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.