Civics: “Such trading is contrary to CFTC rules, but the agency waived them, fearing it could be sued.”
Assume that nothing nefarious was happening and the husband was a person working for a hedge fund. Well, then one of the two people in the relationship has to make a choice. Work for the hedge fund or quit while your partner takes a gig with the CFTC.
The integrity of the US capitalistic market system is more important that this couple’s freedom to choose their career. There is no free lunch.
I had a very wealthy friend that wanted to work for a Presidential administration. They couldn’t get through the “conflicts” part of assessing their background because they had a lot of investments. The committee taking a look was afraid that person could make a decision that would unfairly advantage one of the investments, even if it wasn’t intentional.
Yet, “More than five dozen officials at five agencies reported trading stocks of companies shortly before their departments announced enforcement actions against those companies, such as charges or settlements.”
Prior to the Covid information hitting the market, Washington DC people made incredible trades with incredible timing.
Disgusting. Actually, beyond disgusting. Especially given the government response. Think there was an extra incentive to make a policy decision or public announcement one way or another with money on the line?
