Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
How Congress's ability to play the stock market could be stymied by the very lawmakers raking in BILLIONS https://t.co/H84EAHz4Jg https://t.co/Vnr6MldYtM
Members of Congress should be working diligently to address the challenges facing our communities and country, not exploiting their public positions for personal gain. https://t.co/Gs4ad95kxF
Members of Congress have the ability to stock trade with insider information that would make Gordon Gecko blush. Do you think they should be banned from trading while in office? Nancy Pelosi will be the most upset.
A growing number of lawmakers are calling for a ban on congressional stock trading due to concerns over potential conflicts of interest and insider trading. This comes as estimates suggest Congress has made $3 million in the stock market in a single day. Notable figures such as Rep. Eli Crane and Rep. Brian Fitzpatrick have voiced their opposition to members of Congress trading stocks while in office, arguing it undermines public trust. Recent legislative attempts to address this issue include the TRUST Act (2021), ETHICS Act (2023), STOCK Act 2.0 (2023), Restoring Faith in Government Act (2023), Ban Stock Trading for Gov't Official Act (2022), and Ban on Congressional Stock Ownership Act (2022). A vote on a congressional stock ban may be imminent, with 20 House Representatives pushing for it. Critics argue that figures like Nancy Pelosi, who benefit significantly from stock trading, would be most affected. Some liken the situation to insider trading that would make Gordon Gecko blush.