Why are politicians so DAMN RICH?!

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Published 2023-05-31
How Congress Cheats The Stock Market
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Evidence is mounting that US senators and members of Congress are using insider knowledge on major policy decisions and looming crises to game the stock market. And they think it’s totally okay.

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Johnny Harris is an Emmy-winning independent journalist and contributor to the New York Times. Based in Washington, DC, Harris reports on interesting trends and stories domestically and around the globe, publishing to his audience of over 3.5 million on Youtube. Harris produced and hosted the twice Emmy-nominated series Borders for Vox Media. His visual style blends motion graphics with cinematic videography to create content that explains complex issues in relatable ways.

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All Comments (21)
  • @manderly33
    I work as a corporate trainer at a law firm. I do not handle any client documents. And I am still completely barred from any stock trading without going through a byzantine approval process, and that goes for my spouse, too. If I, a private citizen, cannot trade stock because I happen to work at a law firm, there is no way congresspeople or their families should be able to play the stock market like this.
  • @mustang_mike7632
    Can we please ban congress members from trading and give them term limits 🙏
  • @Ahmiseysoh75
    The corruption in American politics is just sickening. Especially when you see how they are so quick to call out and condemn other countries leaders for corruption when they are no better. Only better at disguising it .
  • @parvapatel3044
    "the only people who can profit from the system are the people running the system." This quote becomes more real and true day by day.
  • @intosound913
    i paid into my 401k for 12 years, double payments, 2008, i lost all of my retirement savings, job, and house. so glad politicians were smart enough to save themselves and then bailout the millionaires they shorted with tax payers money. almost 15 years to be debt free and not homeless anymore. thanks government
  • @IOUaUsername
    If I work as a researcher, It's nearly always in my contract that I'm not allowed to go patenting ideas in my own name because I obviously used ideas I came up with or worked on at my job. It should be in your contract as a government employee with access to non-public information that you can't hold stocks at all. When you're in congress you're getting paid enough to live comfortably forever. You should be focused on creating a country you want to retire in, not building yourself an escape hatch so you won't have to live with the repercussions of your choices.
  • @HeisenbergFam
    Congress has a great talent when it comes to making people disappointed
  • I used to work for a bank and currently for a trading company. In both cases, I had no insider information, but I still had to follow policies stating that if I wanted to buy or sell stock, I had to lodge a request to do so and be granted access. I also had to hold onto anything I bought for at least 30 days. I don't know why this isn't the bare minimum expected of politicians and their families.
  • This is why politicians shall not be in office for more then two terms . People needs to vote out all of these crooks.
  • The problem isn't insider trading. It's the fact that the people have been duped into believing these laws worked. If the laws just didn't exist at all, the entire stock market would be seen as insecure and people would stop putting so much money into it.
  • @LabourLawAdvisor
    Johnny investigates finance better than financial journalists and Finfluencers.
  • @gardenlifelove9815
    I wish for the day that congress is held accountable for their decades of insider trading.
  • When I retired from the US Army friends talked me into running for elected office. I did and was elected twice, as a Republican. In 8 years I got an eye full of politics. I helped on several campaigns for state senator, state representative, and congressman. Having been a commissioned officer, I could not put up with the lack of honor, honesty, or truthfulness. I saw it at all levels in both parties, so after 8 years I declined to run again and I walked away. I am now a farmer in rural southern Ohio. My wife and I are now happy.
  • @FELiPES101
    There is a super easy way to solve most of this. Only total US stock market etf purchases are allowed and while in office you cannot sell that fund. Immediate family members or people domiciled in the residents of a politician have freedom to trade(buy/sell) any etf (no individual holdings), but they must disclose their trades quarterly. Is this perfect, no. You can theoretically keep moving further away from the politician and still insider trade, but it becomes much more difficult for the politician to claim ignorance/luck. The problem becomes how do you punish this behavior...
  • @voltaireon
    I will never not be bitter that, as an external auditor, I had more stock buying restrictions than members of congress. My immediate family was subject to these tighter laws than CONGRESS. 😡
  • @ohioguy1946
    I can’t believe such an obvious public display of corruption is still allowed in this country.
  • @frankmontoya6384
    I’m 22 years old idk if you’ll ever see this but thank you SO MUCH Johnny . Real journalism, aw inspiring , knowledge is power. THANK YOU SO MUCH you and your whole team for existing and working so hard to spread light in the darkest corners of history and events today.💙🌎