← Back to context

Comment by looksjjhg

9 hours ago

That’s hilarious … so he’s arrested and put on trial and all the senate and congress are doing the exact same and free? lol

Only aristocrats can play that game. The soldier is being punished for doing something not allowed for his class status.

This is how a caste system works. People is not judged based on their actions but their relationship to power.

  • You're almost right, but "class" and "caste" are not synonyms and cannot be used interchangeably.

  • > This is how a caste system works.

    Not at all. In a caste system a lower caste person will get attacked if he (or especially she) has any success at all. Whether or not what they did was legal or not does not factor into the equation. First priority is that the highest up dalit is lower than the worst drunkard brahmin, even if they have to kill them.

  • Not so much class or caste, but a dual-state where an elite have a normative or lawless state, and specific or arbitrary others suffer a parallel prerogative or punitive state. This is the essence of corrupt authoritarianism.

    Most Americans share a delusion of perpetual glory days like a former star high school football quarterback with the refusal to accept factual reality that their country isn't uniformly excellent and is terrible in many ways including being extremely superficial, corrupt, dangerous, unhealthy, unhappy, paranoid, over-reacting, immature, selfish, unfair, disinformed, and unequal.

    • More like three. One class where you can do whatever you can pay for, another with a set of annoying but almost reasonable rules and the last one for whom any actions and their mere existence is illegal, but whose presence is very much relied upon to do things.

    • Frank Wilhoit: “Conservatism consists of exactly one proposition …There must be in-groups whom the law protects but does not bind, alongside out-groups whom the law binds but does not protect.”

  • > their relationship to power

    The word "power" is so ironic in human cultures:

    It's the people with the guns (and muscles) that have the literal physical power. They could shoot the aristocrats dead if they wanted to.

    The aristocrats' "power" is make-believe like the rest of their papers and numbers: The various psychological barriers which dissuade the gun-bearers from ever reaching the "want to" part.

    • Which is why power is much more complex than brute force. Sheer physical or military power is not the be-all and end-all, just a facet of the total picture (and in fact, social creatures that humans are, even just adversarial aspects of power are a subset of power).

    • > It's the people with the guns (and muscles) that have the literal physical power. They could shoot the aristocrats dead if they wanted to.

      What matters is not raw power, it’s balance. The power of one guy with guns is kept in check by the power of other guys with guns who stand to benefit from the status quo. The aristocracy’s game is to play with this balance to make sure that no other rival force emerges. They do not need any actual physical power themselves to play it.

    • Historically aristocracy was the military class. Nowadays in authoritarian societies it looks like it's mostly matter of time before military takes the lead.

      4 replies →

    • People with guns don't stand much of a chance against people with armies. Sure armies can turn on an individual, but that just means that particular individual has lost power, and that power has been transferred to whatever new individual commands the loyalty of the many. It's not imaginary, it's emergent.

      2 replies →

  • Yes. This is why we have the firearm. The great equalizer of pressures. There are so few "aristocrats" and they are not well protected. That's the game we must play.

At this point insider trading issue has run away so hard I don't see how it can be tamed without revolutionary frameworks. If we look at crypto then I'm not sure we want to live in a world where insider trading is normalized either so we ought to start working on these new frameworks as soon as possible but nobody seems to care.

  • Just ban gambling. That solves good part of it.

    Then ENFORCE EXISTING LAWS. That solves good part of it.

    Talking about any other solutions will have to wait for govt that's not crooked. It doesn't need revolution, it needs to not have criminals at helm

    • I'm a little confused by your comment.

      Insider trading is already illegal (this case proves it). If the problem is under-enforcement, then I agree that better enforcement is the fix.

      Banning gambling is a completely separate intervention addressing a different activity, and clearly wasn't required to bring charges in this case.

      The tendency of governments to create new laws instead of enforcing existing ones is how we end up with absurdly complex legal systems and the loopholes that come with them.

    • Ban gambling advertising. Ban online gambling. It will solve a lot of the issues without allowing criminals to profit from illegal gambling.

  • > without revolutionary frameworks

    I’d argue that the level of corruption we’re seeing, not just in the USA but all over the Western world, hasn’t risen to a level that warrants revolutionary action.

    > nobody seems to care

    And it would seem that the masses tend to agree.

    We are much much better off tolerating this level of corruption than we would be attempting a revolution.

    Ultimately, it doesn’t matter how fat the fat cats are so long as the general population’s standard of living doesn't go backwards too far too fast.

    • > hasn’t risen to a level that warrants revolutionary action.

      A certain amount of corruption is normal - as Doctorow pointed out, all complex ecosystems evolve parasites. It's much better to have a democracy with some corruption than a police state that enforces its laws perfectly.

      Now, when people realise the current state of their democracy and how it reflects the needs of the people, then they'll start considering bringing out the guillotines.

    • The general population's standard of living HAS gone backwards too fast.

      Just look at something like Office Space. Just twenty seven years ago, it was a satire of the indignities and disrespect of work life. Today, the movie's work environment would be incredibly cushy.

    • > I’d argue that the level of corruption we’re seeing, not just in the USA but all over the Western world, hasn’t risen to a level that warrants revolutionary action.

      What level of corruption would warrant revolutionary action? How much more corrupt can you get than sending forces into combat in a war of choice that disrupts the global economy and kills thousands to win a bet on a crypto platform and shift the news cycle away from accusations of rampant pedophilia among the elite and the lack of prosecution thereof?

      1 reply →

    • >We are much much better off tolerating this level of corruption than we would be attempting a revolution.

      There is no we to prevent any revolution occurring once corruption or "mere" wealth distribution unsustainable discrepancy are passing some thresholds, after which it simply will feedbackloop exponentially.

      Pauperization that allows some party to have chip exploitable labour too frightened to have strong collective claims is also building the social structure of bloody revolution as masses feel like rushing into brutality is the only viable left option.

      2 replies →

    • > We are much much better off tolerating this level of corruption than we would be attempting a revolution.

      We, today, are better not attempting revolution because revolutions are painful. But we are also on a downward slope which will eventually reach below a threshold where 2 things happen: their* life will be much worse off than any revolution, but also they will no longer be able to mount a revolution.

      I've lived through a violent revolution. Not knowing what's happening, not knowing what tomorrow brings, while getting shot at are all terrifying. I can genuinely say that most of what came after was better. A few paid a high price for the several generations that came after to mostly have it better.

      I am not advocating revolution, just doing what it takes to change course. Even voting appropriately could do it.

      *I say they because it might not happen in our lifetime. But we are selling our kids' futures for our current comfort. They'll be the ones really paying our debt.

    • > Ultimately, it doesn’t matter how fat the fat cats are so long as the general population’s standard of living doesn't go backwards too far too fast.

      Worker's compensation in real terms has been almost flat for the last 50 years, 50 years which have seen the largest increase in productivity in recorded history by far. I'm surprised this is still not enough to you.

    • > Ultimately, it doesn’t matter how fat the fat cats are so long as the general population’s standard of living doesn't go backwards too far too fast.

      Well, given that people are behaving more and more violently towards said fat cats I think it's clear we're starting to reach a breaking point and people are caring. It wasn't too long ago that I saw people cheering on LinkedIn when that healthcare CEO got got, so if people are willing to put their professional profiles at risk you have to imagine it's far worse behind closed doors.

      Personally I really dislike living in interesting times and greatly prefer advocating against corruption rather than letting things slide until they get a lot worse.

    • That’s until food and energy price increases become unbearable for the masses. While the first test is already here with gas prices, we’ll have the second test soon in the form of 50% price increases on food in developed Western countries.

      3 replies →

  • > but nobody seems to care.

    Very few people feel impacted by that. If you consider bombing Iran was going to happen anyway because distractions are needed, the money made by the whale that consistently predicts the movements of the current administration is a relatively small thing compared to starting a war for no good reason.

    One possible solution is to make all trades public and traceable to the person who made the decision and the people who benefit from that.

  • Interestingly enough, trading and gambling are things that a blockchain is a pretty good fit for. There is a public ledger and trace of ownership for the trades / lays. And depending on how it is set up, payout is autonomous, as long as no one party controls the network.

  • It can be solved by enforcing the laws already on the books. Insider trading is illegal.

    If the laws are not enforced or selectively enforced you live in a nascent fascist state, not a democracy, what you need is a return to the rule of law, not the abolition of it.

    • I don't think anyone who has been paying attention over the last year could conclude that laws are not being selectively enforced. So I guess the next question is what options provide a realistic way of restoring justice.

  • You're wrong.

    It's just that the problem is not the trading or betting side, the problem is the information producing side.

    E.g. imagine he placed a bet that Maduro would get shot in is left eye and die.

    Same goes for the congress. Them making money is by far a smaller issue compared to the havoc they can cause trying to make a few bucks on their crazy bets.

I actually don’t know the details of the specific crimes. Eg if you’re a soldier and you post on Facebook that you’re about to go on a raid to depose a head of state, that’s presumably a secrecy violation you would be punished severely for. The insider trading can be like this too in that you’re improperly using the information you are privy to due to your being an insider. If you’re a congressperson and you tweet that the government is about to do such a raid, I don’t know what the legality of that is – perhaps you have some kind of privilege to reveal these things and any censure must happen politically (eg impeachment, losing elections, etc) rather than legally. I don’t know what the rules for insider trading would then be – legislators are not insiders in the way that soldiers are.

Ignoring the moral argument, it isn’t all that clear to me that this would actually be a crime for a legislator under US securities law. It may be that new laws would be required to be able to punish legislators for this kind of behaviour.

  • Congress sometimes includes an exemption for themselves from some crimes. Others are excused by the Constitution:

    > The Senators and Representatives shall receive a Compensation for their Services, to be ascertained by Law, and paid out of the Treasury of the United States. They shall in all Cases, except Treason, Felony and Breach of the Peace, be privileged from Arrest during their Attendance at the Session of their respective Houses, and in going to and returning from the same; and for any Speech or Debate in either House, they shall not be questioned in any other Place.

    Explanation:

    https://constitution.congress.gov/browse/essay/artI-S6-C1-2/...

    As for insider trading:

    > The law prohibits the use of non-public information for private profit, including insider trading, by members of Congress and other government employees.

    https://en.wikipedia.org/wiki/STOCK_Act

  • He was charged with "unlawful use of confidential government information for personal gain, theft of non-public government information, commodities fraud, wire fraud, and making an unlawful monetary transaction.". Supposedly, unlawful use of government confidential information could also be applied to legislative and other people in the government

Did congress do it with classified ops data, or with their voting stuff?

The main difference between the two is that betting on the date of a classified op indirectly reveals classified data that can tip off an adversary and cost lives.

Is there a specific case of someone in congress disclosing classified information by betting on it that we can link to?

I like how when people talk about corruption they think about Nancy Pelosi or some other congressman/senator making couple million $ on the stock market over their entire careers due to insider trading. Just last week Trump made a bet of around $1B on the price of oil going down before doing a fake announcement.

  • I think corruption happens long ago before Trump. I’m thinking more on the inequality of wealth and how a smaller percentage of people takes a bigger share of the wealth since I don’t know when. Trump is in fact the symptom of that corruption and part of the reason people elected him. But he definitely makes it worse especially in his second presidency.

    Nowadays super riches run the show and even the illusion of democracy is gone.

    Another thought: many political elites are probably waiting and pushing for Trump to fail to take over. It is us who are going to suffer.

  • I too wonder why "Nancy Pelosi" has become basically synonymous with Congress insider trading when she's not even close to the top of the list among congresspeople.

    • You really need to wonder?

      The 10 best performing historical congress people stocks are all republican,a ll men, all funded by lobbys like heritage foundation...

      But the face of insider trading becomes a democrat and a woman

      Its sooo diffcult to guess why it happened

      2 replies →

    • Because of the Nvidia trade just before the CHIPS act passed.

      Which is ridiculous because the entire thing was largely fabricated by the media for those juicy clicks. It was a "half truth" story that hinged on the public's general ignorance of derivatives trading.

      While she acquired Nvdia shares days before the bill passed, it was entirely coincidental, because she had put in for those shares over a year prior. Craziest of all, which the media would never fucking say, is that she lost money on the trade.

      Nancy Pelosi's most infamous insider trade is one she lost money on. It's one of the core stories I use as an example of how shamelessly misleading the media is. Destroying the country for ad views.

    • Sexism will play a role, but a big part of the reason why Pelosi gets so much flak is that she did nothing to stop it when the democrats were in charge, thus directly paving the way to the current shitshow.

      1 reply →

  • > I like how when people talk about corruption they think about Nancy Pelosi or some other congressman/senator making couple million $ on the stock market over their entire careers due to insider trading

    So, two things. First, she's made quite a bit more than a few million dollars. Second, she's been an example of being a "suspiciously good trader" for years and years and years. Has anything happened to her? Republicans talk about her and do nothing about it. Democrats say it's a conspiracy theory. The behavior has quite clearly been normalized.

  • Nancy pelosi’s net worth is around a quarter billion dollars, most of it attributable to insider trading.

America is fine with the rich and powerful doing that. Just not one of the normies. Just look who they elected to President. You cannot with a serious face suggest otherwise.

> senate and congress

Senate and congress are both elected. Their re-election is effectively jury nullification.

The people do not care about the crimes.

  • Between citizens united, gerrymandering, the electoral college, winner take all elections, and voter supression, I don't think we can say that "elections" in America reflect the will of the people.

Think about it. He's stealing from the US military. The politicians are stealing from you. Who's laughing now?

The only reason we know about the trades in Congress is because they're following the law and reporting them. I don't think there is any evidence that members of Congress: 1) have access to classified info like this, and 2) are betting on polymarket.

That's not to say the behavior isn't extremely slimey but they are acting within the law. Your comment doesn't mention the executive branch and the various crypto "ventures" going on, like the Whitehouse dinner for investors of $TRUMP coin of which we have no idea who invested or what they got from it.

Some, and probably very few.

When the people feel everyone is corrupt without any evidence then the next step is getting actual corrupt leaders like Trump's government and soldiers like this that feel corruption is standard behavior