is making its way through Congress in an issue that has broad support among voters but may face hurdles on a path toward becoming law.
Wide support for banning stock trading for lawmakers is not a new trend but momentum for it has picked up in Congress over the last several years with members in different factions supporting the policy, introducing or co-sponsoring bills adding restrictions and beefing up punishments for people who violate them.
Despite the existing rules around Congress and stock trading, there have been several high-profile instances of trades that gave the appearance of using privileged information to rake in profits and some members have been so active that several apps and websites have been created that allow regular investors to mimic what lawmakers are doing and have regularly beat the market.
While Pelosi gets a significant share of the attention for trades, she is far from the only member who has a spouse or is personally involved in trading and isn’t always the most profitable. A report earlier this year from stock and options news service Unusual Whales found someRep. Brian Higgins, a New York Democrat, had an eye-popping 238.9% return on his investments that were disclosed through the STOCK Act. Rep. Mark Green, R-Tenn., saw a 122% return and Republican Reps.
Rep. Pat Fallon, R-Texas, failed to disclose 122 trades worth between $9 million and $21 million in a timely manner in 2021. The consequences were a $600 fine and correcting the record despite a refusal to cooperate with a review by the Office of Congressional Ethics.
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Fonte: washingtonpost - 🏆 95. / 72 Consulte Mais informação »