That’s not true. It’s still illegal even though they get away with it. You’re thinking of bribery lobbying.
According to the STOCK Act of 2012, they could be brought up on charges for a trade performed after gaining knowledge of a pending change in legislation that would affect the value of a stock, prior to the legislation being publicly enacted. The SEC just hasn’t charged them.
What they do is not legal, they just live above the law.
That doesn’t change the law. It’s simply evidence that Congress lives above it. Seven Democrat Senators cosponsored a bill in September to ban the practice entirely. It died at introduction.
You have a philosophy around what laws are and what they mean that is incongruent with reality.
What is the word we use when people have believes that don’t match up with the previous or future state of things?
Laws on paper are only one aspect of what a law is. How those laws are interpreted and how they are enforced matter far, far more. Law is what is applied and enforced. If something is a ‘law’ but is not enforced, then its not really law.
And its fine that you have a different philosophy around what the law means. I just don’t find it particularly useful because it doesn’t predict the past, present, or future states of the world.
That’s not true. It’s still illegal even though they get away with it. You’re thinking of
briberylobbying.According to the STOCK Act of 2012, they could be brought up on charges for a trade performed after gaining knowledge of a pending change in legislation that would affect the value of a stock, prior to the legislation being publicly enacted. The SEC just hasn’t charged them.
What they do is not legal, they just live above the law.
If everyone doing it gets away with it, then is it actually illegal?
Yes. It is. They just need to be arrested and prosecuted. I agree that it should be taken more seriously, considering that it’s against the law.
No one has ever been prosecuted in the decade and change that it has been illegal, despite frequent violations.
That doesn’t change the law. It’s simply evidence that Congress lives above it. Seven Democrat Senators cosponsored a bill in September to ban the practice entirely. It died at introduction.
https://www.congress.gov/bill/118th-congress/senate-bill/2773/all-actions-without-amendments
Oh you sweet summer child.
Now you’re wrong, and condescending. Lol
You have a philosophy around what laws are and what they mean that is incongruent with reality.
What is the word we use when people have believes that don’t match up with the previous or future state of things?
Laws on paper are only one aspect of what a law is. How those laws are interpreted and how they are enforced matter far, far more. Law is what is applied and enforced. If something is a ‘law’ but is not enforced, then its not really law.
And its fine that you have a different philosophy around what the law means. I just don’t find it particularly useful because it doesn’t predict the past, present, or future states of the world.
In other words:
spoiler
People who don’t understand the problem typically have little success in fixing it. You should consider reading more.