Dem Elaine Luria slams proposals to ban stock trading by lawmakers: 'This whole concept is bullshit'

[atreides1]

8. Blind trust is a ruse

https://www.msn.com/en-us/news/politics/why-blind-trusts-for-members-of-congress-are-a-ruse/ar-AASW3PN


Here's what Mitt Romney, currently the wealthiest senator (with a net worth of $250 million), had to say about blind trusts: "The blind trust is an age-old ruse, if you will. Which is to say, you can always tell a blind trust what it can and cannot do."


If elected to Congress, members must divest from all individual stocks. No "blind trust" loophole. It must be a legitimate divesting. If they want to invest in something, they should get U.S. Savings Bonds, which invests them in the long-term financial health of the country. Or an I-bond, which is indexed to inflation. They would never fall behind or get ahead of where they started.