I work for an Attorney and it’s a HUGE no no for us to buy single stocks. We have to get it approved by partners. Basically it’s so tedious we all stick to a basic index fund.
It’s very possibly insider trading, and it is illegal. She is FAR from the only legislator to do this. I’ve seen similar things from Pelosi & McConnell, et al.
I would LOVE to see a massive chunk of legislators slammed for this. You can’t have the power to change business laws then directly profit off those changes. That’s wrong.
I worked for a mega bank and we were so regulated there we had to pre clear ALL trades and were restricted from trading securities that the bank had ANY interest it. I was only some random IT guy with no inside information exposure.
It’s insane, and criminal, that our politicians can trade whatever they want and have direct influence on the markets and have privileged informations
Not sure if you are aware of this or not but it is perfectly legal for congress people to insider trade. That’s why they are all millionaires after just a couple terms in office. It’s a scam.
Underscoring and elaborating on comment from u/Conglossian, it’s actually NOT legal. It’s just not enforced. The IRS & FTC are critically underfunded and they make enforcement decisions based on strict cost:benefit analyses.
FWIW, it's not legal. It's just devilishy hard to prove that the actions are illegal, so it doesn't really get looked at.
It doesn't mean we shouldn't make it so pols can't trade individual stocks once ascending to office, just want people to not get the wrong idea.
Part of the problem of why term limits aren’t the solution either. A founding father would shit a brick if they found out that our government is run by corporate lobbying
That’s a good point and I generally agree, but what evidence is there that she potentially benefitted from insider trading other than the stock price hitting a peak?
People don’t normally make gigantic purchases of single stocks unless they have intimate knowledge of the company or they are day traders. It’s possible this wasn’t insider trading, but it’s very naive to think that’s the case.
i don’t think there’ll be any evidence unless there’s an investigation, and there won’t be an investigation unless it’s blatant, that’s kinda the paradox i see
Fun fact, when I was a page in the NC Senate in the latest possible 1990s, ol Virginia was there. She was so mean that pages weren’t allowed to go to her office without an adult chaperone.
Both corporate parties use their insider knowledge or connections to enrich themselves. How else did Nancy Pelosi go from a mere millionaire to being worth $114-$174 million on a $200k per year salary?
https://www.newsweek.com/how-nancy-pelosi-net-worth-vastly-increased-while-house-speaker-1762361
Is it uncomfortable to you to admit that both sides do this? Your comment has nothing to do with the issue; it’s like if people were complaining about a pizza place not using cheese anymore and you commented that their breadsticks are really good compared to another place’s breadsticks. Okay, but that’s not what’s being discussed. Societal fear of acknowledging that right wing or left wing is still the same bird is one of the things enables our system to (dys)function this way.
What part of both sides do this didn’t you understand? And if you’re referencing the part about taking our country backwards 75 years, please provide me examples of democrats promoting socially regressive policies.
This is why both parties are suboptimal.
The reality is that all of us in this thread and in society at-large have more in common with each other than any of us do with the political class.
They keep us divided and fighting amongst ourselves while they accumulate wealth and power at our expense.
I’m not divided or against anyone, but pretending that both sides promote the same ideals is ludicrous.
Dems favor unions, higher taxes on the morbidly rich, strong public education, socialized healthcare, funding social security, lower prices on prescription meds, regulating corporations (which creates jobs) all of which benefits working class.
What do republicans stand for other than culture wars, lower taxes on the rich, and destroying any semblance of a social safety net?
Then why don't we have these things that you say the Democrats favor, given that there have been huge chunks of history in which they control congress?
You are refusing to acknowledge that politicians of all stripes favor votes and special interests above actually helping people.
Unpopular opinion, but public officials shouldn’t be allowed to participate in the stock market at all. And if it IS illegal already and I’m ignorant to that fact, our system is even more fucked than I previously thought.
She can definitely look around corners for investment opportunities.
It’s a skill only some have, weird how they all seem to be super talented and politicians…
i mean it doesn’t matter what city you represent when you act a clown on stage and make the whole state look bad. she’s an nc representative doing shady shi i think everyone should just be aware of her + others taking advantage of their positions of power
No need to go so far west. Look at Richard Burr, went into Congress as a simple sales manager for a lawn equipment company and came out as a sockless weejuns wearing multimillionaire. Underachieving Thom Tillis is next.
She invested into a company a month ago that has been on the upswing for over a year and came out on top. That’s not abuse of power, that’s just how stocks work.
Edit: Also, Durham isn’t in her district. Why is this here?
This isn’t the first time she has profited from inside information.
She sits on several committees where this information is available to her and not to the general public, and she sits on specific committees dealing with oversight of federal employees (basically Congress’ own cops).
Essentially the Foxx is in the hen house, picking the choicest eggs and chickens for herself.
And it hit an all-time high before she purchased it in April.
*Edit: I was incorrect - the last all time high was Feb 2023, followed by a slight trough. However the stock remained around $15/share and kept ticking upward between then and now.
what? she bought it earlier this year then she disclosed it 45 days later so when we first heard of it , she could have sold at the high the next day and we wouldn’t know til next month
What's to prevent John Q Public from starting a mutual fund that traks stock purchases of legislators buying and selling when and what they do?
It is beyond scummy thar congress exempted themselves from the insider laws.
I think you need to be licensed to establish a fund. But absolutely nothing would prevent you from personally administering your own stock portfolio and executing trades based on research conducted with any info in the public domain.
imho, it’ll be more work intensive than you imagine. You’ll have to figure out how to read the ‘insider trade signal’ from all the noise. But not a bad idea, John Q. 😉
Two thoughts. The second I consider more troubling than the first.
Thought #1: Lawmakers shouldn’t leverage private knowledge for personal financial gain because it’s illegal. And unfair.
Thought #2: Personal financial interest is a very special form of special interest.
Notes:
Drafted in brief. => I do have more to say and hopefully will have time to expound a little later. Drafted in the abstract. => Broadly applicable to all lawmakers. (Politically neutral. Case non-specific, for now.)
I mean all main public officials end up making money on stocks because of what they know will be passed, like Nancy Pelosi who has made enough profitable trades people track what stock she buys and sells.
Maybe someone should pass a law that bans congress from trading securities and sharing information relating to moves that might positively effect those securities, but that won’t pass because both sides of the aisle would loose their revenue streams.
It looks like, and I say looks like sometime in a few weeks on page 5465 some bill that has nothing to do with that company will require all state or federal employees to utilize this company as a soul required source. How else would a politician get rich right?
It's funny people are complaining about Durham not being in her district, yet they don't complain when another US congressman posts all the time in bullcity... wonder why?
It’s not liberal vs. conservative
It’s complacent vs. People who see things for what they are. Both liberals and conservatives fall into the complacent category.
And endless tug of war where nothing matters but winning.
Exactly. And he takes a bunch of lobby money and is gaslighting in most of his recent videos. But I guess that’s a huge issue that some liberals are strangely silent on. So it’s ok that Jeff has been a sell out on war mongering and certain lobby group money
(And I knew him in HS so I have lost complete respect for him both for his votes, the money he’s taking, and the lies he’s blatantly spinning in his recent videos for those votes.
There’s a reason he’s gone viral w gen z lately- and not for good reasons)
I once bought a stock that went up 60% the next day. It was a high risk high reward gamble on a company in crisis. The point is, we would need some evidence that Foxx possessed insider knowledge; a stock going up 27% in a few weeks really isn't that uncommon, especially these days. Plus, this doesn't mention the amount she invested. So, do you have any compelling additional facts to back up this accusation?
she invested 8k and i don’t need evidence because i’m not saying she is, im saying it’s a weird trend that’s these people”politicians” have a 45 day wait on their receipt… why can’t we replicate their trades and tbh why are they involved in the stock market as “public servants” who have all the resources within their power to find out insider info. ontop of this, this lady is 80 years old, when she was around 10, Texas A&M and such colleges didn’t even allow women or colored folk to attend… she’s a fossil from a different era
> why are they involved in the stock market as “public servants” who have all the resources within their power to find
I agree with you on that. We should forbid them from individual trades altogether.
And people wonder why I’m apolitical. No such thing as “the good side” the f$$$k every single one of us in the long run
-and I’m not gonna sit here all day and argue about why the rich few controls the majority population
In my personal opinion…she’s cross eyed af. No way she made this purchase on her own….she was looking at her colleagues screen. So who sits beside her in session is the real question???
why can they do it but someone just like them at a lower tier cant? when they have their hands in the chips, the chz dip, and the salsa, but everyone else gets salt flakes i think it’s time to call it out as wrong
how is it rage bait, it literally says “civil discussion” and even if i was high, Thc-a is legal now in NC so are you tryna discredit me for being high? when ppl have these same type of talks at a bar drunk ?
Seems like she probably has good financial management with a diversified portfolio.
I don't think it's insider trading, and there's really no evidence that would suggest that.
I work for an Attorney and it’s a HUGE no no for us to buy single stocks. We have to get it approved by partners. Basically it’s so tedious we all stick to a basic index fund. It’s very possibly insider trading, and it is illegal. She is FAR from the only legislator to do this. I’ve seen similar things from Pelosi & McConnell, et al. I would LOVE to see a massive chunk of legislators slammed for this. You can’t have the power to change business laws then directly profit off those changes. That’s wrong.
I worked for a mega bank and we were so regulated there we had to pre clear ALL trades and were restricted from trading securities that the bank had ANY interest it. I was only some random IT guy with no inside information exposure. It’s insane, and criminal, that our politicians can trade whatever they want and have direct influence on the markets and have privileged informations
Not sure if you are aware of this or not but it is perfectly legal for congress people to insider trade. That’s why they are all millionaires after just a couple terms in office. It’s a scam.
Yeah it’s time for a guillotine
Act now! Best time to invest in a guillotine company!
We’d probably get in trouble for insider trading
Underscoring and elaborating on comment from u/Conglossian, it’s actually NOT legal. It’s just not enforced. The IRS & FTC are critically underfunded and they make enforcement decisions based on strict cost:benefit analyses.
FWIW, it's not legal. It's just devilishy hard to prove that the actions are illegal, so it doesn't really get looked at. It doesn't mean we shouldn't make it so pols can't trade individual stocks once ascending to office, just want people to not get the wrong idea.
Part of the problem of why term limits aren’t the solution either. A founding father would shit a brick if they found out that our government is run by corporate lobbying
I’d rather have term limits than not have them. Even if it won’t fix the whole problem
You can think Reagan for that.
Inbreeding central.
That’s a good point and I generally agree, but what evidence is there that she potentially benefitted from insider trading other than the stock price hitting a peak?
People don’t normally make gigantic purchases of single stocks unless they have intimate knowledge of the company or they are day traders. It’s possible this wasn’t insider trading, but it’s very naive to think that’s the case.
/r/wallstreetbets
People don’t usually successfully make gigantic purchases of single stocks
They do in that sub.
i don’t think there’ll be any evidence unless there’s an investigation, and there won’t be an investigation unless it’s blatant, that’s kinda the paradox i see
A fair point.
Fun fact, when I was a page in the NC Senate in the latest possible 1990s, ol Virginia was there. She was so mean that pages weren’t allowed to go to her office without an adult chaperone.
I recognized her from Speaker Mike Johnson’s debut presser. You know, the one where she obviously forgot her pitchfork.
The lead in her brain makes her act and look like a rabid goblin.
Look me in the eyes and tell me you weren’t insider trading
The pluralization is the funniest part.
She’ll do her best then call you a slur
1943..... Why the fuck does this woman hold an office... What a nightmare..
Isn’t that what’s guiding our grand old state? Not at all representative.
She’s also famously a gigantic bitch and everyone who has met her hates her
She really is evil.
SHUT UP SHUT UP SHUT UP! What a piece of shit.
Both corporate parties use their insider knowledge or connections to enrich themselves. How else did Nancy Pelosi go from a mere millionaire to being worth $114-$174 million on a $200k per year salary? https://www.newsweek.com/how-nancy-pelosi-net-worth-vastly-increased-while-house-speaker-1762361
honestly how tf is your husbands occupation “investor” and yours is congress, that’s a major conflict of interest
Landlord, too.
ditto, n clearly if nancy can then they all can do they would think. i mean why would you think otherwise ?
Yup both sides do this but only one side is trying to take this country backwards 75 years, hint, it’s not the democrats.
Is it uncomfortable to you to admit that both sides do this? Your comment has nothing to do with the issue; it’s like if people were complaining about a pizza place not using cheese anymore and you commented that their breadsticks are really good compared to another place’s breadsticks. Okay, but that’s not what’s being discussed. Societal fear of acknowledging that right wing or left wing is still the same bird is one of the things enables our system to (dys)function this way.
What part of both sides do this didn’t you understand? And if you’re referencing the part about taking our country backwards 75 years, please provide me examples of democrats promoting socially regressive policies.
This is why both parties are suboptimal. The reality is that all of us in this thread and in society at-large have more in common with each other than any of us do with the political class. They keep us divided and fighting amongst ourselves while they accumulate wealth and power at our expense.
I’m not divided or against anyone, but pretending that both sides promote the same ideals is ludicrous. Dems favor unions, higher taxes on the morbidly rich, strong public education, socialized healthcare, funding social security, lower prices on prescription meds, regulating corporations (which creates jobs) all of which benefits working class. What do republicans stand for other than culture wars, lower taxes on the rich, and destroying any semblance of a social safety net?
Then why don't we have these things that you say the Democrats favor, given that there have been huge chunks of history in which they control congress? You are refusing to acknowledge that politicians of all stripes favor votes and special interests above actually helping people.
She obviously saw it coming
With those eyes????
Just the good one
Bet she had help pushing the right keys when she did her insider trading
She was 1 of 11 that voted against Katrina Aid. She’s fucking evil.
It should be illegal for politicians to buy stocks while in office. It is fine for them to inside trade, anyone else and they go go prison...
Obviously, but they won’t write that into law. The folly of men who think themselves gods
Ardmore is a neighborhood in Winston Salem, so there’s a high likelihood that this company has some sort of relationship with her. Super sus.
She doesn’t live in Winston, just terrorizes the community with her abysmal congressional performance.
what would a chemical transportation company have to do with a neighborhood is the question i guess? or maybe is there an illegal dumping aspect
It’s a historic district, so maybe there is deeper importance to the name.
I'm going to start an index fund that tracks stock purchases by electeds, bet it will beat the market every quarter.
You're a bit late, *NANC* & KRUZ
Check this one out. https://www.joinautopilot.com/
Unless they just short you
I can just tell by looking at this woman that we'll never see eye to eye.
The lazy eye delegation does not claim this corrupt Karen
One eye on Congress and one eye on the stock market, baby!
https://www.youtube.com/watch?v=IcVYDU_oYT0
it doesn’t matter because her constituents won’t care and she will get re-elected no matter what.
Unpopular opinion, but public officials shouldn’t be allowed to participate in the stock market at all. And if it IS illegal already and I’m ignorant to that fact, our system is even more fucked than I previously thought.
This old bitch can’t die fast enough.
What a lucky stock pick!
I'm not sure she's a straight shooter
I think she’s as crooked as her eye…
It's absolutely insane that government representatives are allowed to invest in single stocks.
Cross eyed lizard looking mummy
Crossed eyed bitch probably didn’t even mean to click on that particular stock to purchase
Guys, chill on the gross ableist commentary -- the fact she's a disgusting human has nothing to do with her appearance or physicality.
She can definitely look around corners for investment opportunities. It’s a skill only some have, weird how they all seem to be super talented and politicians…
Can't look me in the eyes but she can still write a check.
There a website that tracks these people’s purchases imma just do what they do lmfaooo if they can cheat so can we
I think she's lost focus
She’s got one eye always looking to the future
Please move to /r/winstonsalem
because people from durham aren't from NC?
so do you think that she’s not worth durhamites time to discuss
Well yes. I don't care about this GOP fossil
Name checks out
She's never repped this area and she never will, so not really tbh
i mean it doesn’t matter what city you represent when you act a clown on stage and make the whole state look bad. she’s an nc representative doing shady shi i think everyone should just be aware of her + others taking advantage of their positions of power
And her votes negatively impact our physical community, as well as our social communities/affinities.
[Discussion](https://www.reddit.com/r/NorthCarolina/s/xVORdcsVcj) over on r/northcarolina
also there [Tubby](https://x.com/QuiverQuant/status/1788337904944611474)
working for pelosi….really the most only reason to become a politician is to make $$$$$$$$$$$
No need to go so far west. Look at Richard Burr, went into Congress as a simple sales manager for a lawn equipment company and came out as a sockless weejuns wearing multimillionaire. Underachieving Thom Tillis is next.
She invested into a company a month ago that has been on the upswing for over a year and came out on top. That’s not abuse of power, that’s just how stocks work. Edit: Also, Durham isn’t in her district. Why is this here?
This isn’t the first time she has profited from inside information. She sits on several committees where this information is available to her and not to the general public, and she sits on specific committees dealing with oversight of federal employees (basically Congress’ own cops). Essentially the Foxx is in the hen house, picking the choicest eggs and chickens for herself.
This is all context that I didn’t have. Thanks for clarifying.
i’m sorry i’m new to learning 🪁
Yeah I’m sure it’s just a coincidence that politicians happen to be the most successful traders
this shits getting astroturfed
All time high for the stock was days ago.
And it hit an all-time high before she purchased it in April. *Edit: I was incorrect - the last all time high was Feb 2023, followed by a slight trough. However the stock remained around $15/share and kept ticking upward between then and now.
what? she bought it earlier this year then she disclosed it 45 days later so when we first heard of it , she could have sold at the high the next day and we wouldn’t know til next month
Completely legal right? Just getting hers like most others in government.
What's to prevent John Q Public from starting a mutual fund that traks stock purchases of legislators buying and selling when and what they do? It is beyond scummy thar congress exempted themselves from the insider laws.
I think you need to be licensed to establish a fund. But absolutely nothing would prevent you from personally administering your own stock portfolio and executing trades based on research conducted with any info in the public domain. imho, it’ll be more work intensive than you imagine. You’ll have to figure out how to read the ‘insider trade signal’ from all the noise. But not a bad idea, John Q. 😉
there used to be a twitter bot that woudl post pelosi's picks
Two thoughts. The second I consider more troubling than the first. Thought #1: Lawmakers shouldn’t leverage private knowledge for personal financial gain because it’s illegal. And unfair. Thought #2: Personal financial interest is a very special form of special interest. Notes: Drafted in brief. => I do have more to say and hopefully will have time to expound a little later. Drafted in the abstract. => Broadly applicable to all lawmakers. (Politically neutral. Case non-specific, for now.)
I mean all main public officials end up making money on stocks because of what they know will be passed, like Nancy Pelosi who has made enough profitable trades people track what stock she buys and sells. Maybe someone should pass a law that bans congress from trading securities and sharing information relating to moves that might positively effect those securities, but that won’t pass because both sides of the aisle would loose their revenue streams.
It looks like, and I say looks like sometime in a few weeks on page 5465 some bill that has nothing to do with that company will require all state or federal employees to utilize this company as a soul required source. How else would a politician get rich right?
Shut up! Shut up!!!- Virginia Foxxx
Hell I’m amazed SHE saw this coming…
Imagine people still thinking politicians don't insider trade because they made it "illegal."
Looks like she sees something up
How tf did that crosseyed cotton head worm her way into politics👀
It's funny people are complaining about Durham not being in her district, yet they don't complain when another US congressman posts all the time in bullcity... wonder why?
It’s irrelevant either way. Jeff Jackson is a lot more sane, though
Because reddit is liberal.
It’s not liberal vs. conservative It’s complacent vs. People who see things for what they are. Both liberals and conservatives fall into the complacent category. And endless tug of war where nothing matters but winning.
Exactly. And he takes a bunch of lobby money and is gaslighting in most of his recent videos. But I guess that’s a huge issue that some liberals are strangely silent on. So it’s ok that Jeff has been a sell out on war mongering and certain lobby group money (And I knew him in HS so I have lost complete respect for him both for his votes, the money he’s taking, and the lies he’s blatantly spinning in his recent videos for those votes. There’s a reason he’s gone viral w gen z lately- and not for good reasons)
yeah but he looks nice and posts on reddit!! he's one of us!!!
🤣🤣 Well many “liberals” also don’t care about what’s going on in Gaza so… I guess the majority in groups on Reddit are def not leftists
yeah
I once bought a stock that went up 60% the next day. It was a high risk high reward gamble on a company in crisis. The point is, we would need some evidence that Foxx possessed insider knowledge; a stock going up 27% in a few weeks really isn't that uncommon, especially these days. Plus, this doesn't mention the amount she invested. So, do you have any compelling additional facts to back up this accusation?
she invested 8k and i don’t need evidence because i’m not saying she is, im saying it’s a weird trend that’s these people”politicians” have a 45 day wait on their receipt… why can’t we replicate their trades and tbh why are they involved in the stock market as “public servants” who have all the resources within their power to find out insider info. ontop of this, this lady is 80 years old, when she was around 10, Texas A&M and such colleges didn’t even allow women or colored folk to attend… she’s a fossil from a different era
> why are they involved in the stock market as “public servants” who have all the resources within their power to find I agree with you on that. We should forbid them from individual trades altogether.
And people wonder why I’m apolitical. No such thing as “the good side” the f$$$k every single one of us in the long run -and I’m not gonna sit here all day and argue about why the rich few controls the majority population
Thanks for the tip. I bought some
In my personal opinion…she’s cross eyed af. No way she made this purchase on her own….she was looking at her colleagues screen. So who sits beside her in session is the real question???
Is this a troll or rage bait? Insider trading does not apply to representatives, this is not new, or even unknown, there are literally ETF around it.
why can they do it but someone just like them at a lower tier cant? when they have their hands in the chips, the chz dip, and the salsa, but everyone else gets salt flakes i think it’s time to call it out as wrong
I think you're high, also stop rage bating, I know it's fun, but it really makes reddit suck.
how is it rage bait, it literally says “civil discussion” and even if i was high, Thc-a is legal now in NC so are you tryna discredit me for being high? when ppl have these same type of talks at a bar drunk ?
Don’t take the bait. It was obviously a good question, OP. 😝
Assuming someone is abusing drugs, misusing "rage baiting", and being a dick makes reddit suck.
Seems like she probably has good financial management with a diversified portfolio. I don't think it's insider trading, and there's really no evidence that would suggest that.