BSpeaking of Washington and money, Robert Reich is on Bluesky with a suggestion.
ALet me guess. Tax the rich?
BHe says today would be a great day to ban the president, VP, and members of Congress and their families from trading stocks.
AAnd he's not alone. The Liberal BoJack account posted the exact same line. Word for word.
BCopy-paste activism. But the underlying point isn't crazy. Members of Congress shouldn't be day trading on information they get in closed briefings.
AI actually agree with the principle. The problem is enforcement. Who polices it? The same people who wrote the rules?
BWe've had the STOCK Act for over a decade. It was supposed to fix this. It didn't.
ABecause the penalties are a joke. A fine that's a rounding error for most of these people.
BSo ban it outright. Blind trusts or nothing. Make it simple.
AI'd go further. If you're in Congress, you own what you owned before you got there, and you don't touch it until you leave.
BThat's actually a clean rule. But good luck getting it through a body that would have to vote on its own restrictions.
AAnd that's the rub. Reich's post is popular because it's easy to agree with. The hard part is the mechanics.
BMeanwhile, House Democrats are on Bluesky claiming Trump and his family raked in millions from oil and gas stocks.
AThat's a claim, not a fact. I couldn't find any independent confirmation of those numbers.
BIt's a political account doing political messaging. The 'millions' figure is doing a lot of work without a source.
AIf you're going to make that accusation, show the filings. Otherwise it's just noise.
BDifferent world entirely. A Bluesky user named Jack tells a story about a friend who was a sugar baby.
AThis feels like a trap.
BShe told her clients she was 'getting into stocks.' They immediately wanted to explain it to her or correct her picks.
AThat's the most honest thing I've heard all day. Men will absolutely do that.
BShe made decent money on top just from the free advice. Or the need to feel smart.
AThere's a whole industry built on that instinct. Half of financial Twitter is men correcting each other's picks.
BThe lesson: if you want free stock tips, just say you're new and watch the experts line up.
AI'm not sure that's investment advice, but it's definitely life advice.
BAnd on the bankruptcy front, a couple of small Chapter 11 filings are floating around. A Nevada IT firm called thinkSTG, a New York rental company called Zim.
ANeither one is confirmed in public records yet. These are small filings, the kind that happen every week.
BNot much to say until the paperwork actually lands. We'll keep an eye on them.