Comments by "Magic Beans" (@Magic_beans_) on "Wait why can politicians trade stocks?" video.

  1. I used to audit companies’ financial statements, and we were barred from “any direct or material indirect” investment in a company we handled. For partners in the firm that extended to any client the firm had whether they worked that client or not. That’s just basic stuff; how could we expect people to trust our judgment if we might be personally affected by the outcome?
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  2. Short answer, it’s legal because we haven’t made it illegal. Slimy, sure, but legal until someone identifies the problem and we work up the political will to get a law passed. Probably by replacing some people, which unfortunately voters are hesitant to do because seniority is a big part of how Congress organizes itself.
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