Gov. Tim Walz's financial disclosures reveal a man of relatively modest means.
  • Gov. Tim Walz of Minnesota is a man of relatively modest means, according to financial disclosures.
  • In fact, he doesn’t own a single stock.
  • Like other members of Congress, Walz even slept in his Capitol Hill office for some time.
  • NotMyOldRedditName@lemmy.world
    2·
    5 months ago

    I haven’t read the article, but usually when people like this don’t have any stocks, it’s to avoid a conflict of interest, but they do potentially own something like a whole market etf that’s being managed by a 3rd party. Something like XGRO

    That varies though. Some really do have nothing.

    Edit: And while it seems like in this case it’s true to the intent, technically, owning an ETF share isn’t owning a stock. You don’t own the underlying stocks with ETFs

    • JackbyDev@programming.devEnglish
      2·
      5 months ago

      Yeah, I don’t own stocks. I just have a 401k and shares of VTI, VXUS, and VOO in my IRA and traditional brokerage. But I don’t own stocks!

      To be honest though, I don’t see a problem (or at least as big of a problem) with politicians owning total market index funds.

      • NotMyOldRedditName@lemmy.world
        2·
        5 months ago

        To be honest though, I don’t see a problem (or at least as big of a problem) with politicians owning total market index funds.

        Oh I totally agree with you on this. There’s no conflict of interest in that case so why not.