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burkamantoday at 2:07 PM5 repliesview on HN

Incorrect title, the finding is "lawmakers who later ascend to leadership positions perform similarly to matched peers beforehand but outperform them by 47 percentage points annually after ascension." This is saying that people in congressional leadership positions do 47% better than other members of Congress.


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ApolloFortyNinetoday at 2:28 PM

>This is saying that people in congressional leadership positions do 47% better than other members of Congress.

It's even more damning than that I think.

>we find that lawmakers who later ascend to leadership positions perform similarly to matched peers beforehand but outperform them by 47 percentage points annually after ascension.

The same person makes more after being put in a leadership position than before. That essentially removes any possibility of 'well maybe they're just more knowledgable and that's why they're in leadership.'

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exasperaitedtoday at 2:17 PM

The more committees you are on, the more opportunities you have for informed medium term trading that escapes insider-dealing scrutiny. It's a fundamental problem with government and it is why politicians should be required to put their stocks in a blind trust. But it still doesn't solve the problem of blind trusts not being truly blind when you know what went into them.

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gcaputoday at 3:40 PM

So, you want a title that is 5 lines long? It’s a fair criticism, but maybe it’s just too difficult to summarize in a title.

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ivapetoday at 2:45 PM

This would be the largest insider trading scandal in that case. Sharing company information that is then traded on would fit this bill I think.

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