It’s crunch time for the push to ban Congress from trading stocks

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About 63% of all voters favor a ban on stock trading for lawmakers. A MarketWatch article in January revealed how Congress resembled a Wall Street trading desk last year, with lawmakers and their family making ~$355 million worth of stock trades.

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“I would think that the Senate would aim to get something across the finish line before August recess, so that then the House can resolve and pass something in the fall,” Sherman added. Senate Majority Leader Chuck Schumer, the New York Democrat, told reporters last week that he hopes to have stock-trading legislation to vote on “this year.”

She favors measures that would increase transparency, such as cutting the amount of time allowed between a trade and the required disclosure, or raising the penalties for not filing disclosures correctly. She also was a witness at the April 7 hearing. Rep. Spanberger’s take, President Biden’s role One House lawmaker who has co-sponsored one of the bills that would end congressional trading in individual stocks sounded somewhat discouraged in an interview this week, even as she seemed excited by Schumer’s comment about a Senate vote in 2022.

House Speaker Nancy Pelosi, the California Democrat, defended stock trading by lawmakers and their spouses in December, but then in January reversed herself to some extent, asking the House Administration Committee to look into a possible ban on congressional trading and saying: “I just don’t buy into that. But if members want to do that, I’m OK with that.”

“The fact that there are members of Congress who think they’re ‘right’ to be able to buy stocks, which equates to profiting off that information, is to me just unconscionable,” Spanberger said.

 

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I don’t know what’s worse, insider trading, or lobbying in America… and these are the people running the country. Business ethics anyone?

And their spouses. Anyhow, even if this is enacted, the corrupt ones will always find a way.

Pelosi has stolen 300 million in wealth with a 150k per year job. She laughs at us. She is retiring in tax free Florida.

It's definitely a good idea whose time has come..

Nancy Pelosi is the best trader on earth, people are just jealous

Stop the “insider trading” that continues everyday in Congress. TermLimits campaignfinancereform too! GOP SenateDems HouseDemocrats

And the Senate and the executive branch and the judicial branch and all of their friends and family who might buy or short stocks on their behalf.. Best of luck with that..

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