Congress must listen to the American people and pass legislation making it illegal for any sitting member of the House or Senate to trade individual stocks.
Loeffler had access to confidential financial information, both by way of her husband Jeff Sprecher, chairman of the New York Stock Exchange, and her position in the Senate, which afforded her access to private briefings from top public health officials weeks in advance of the pandemic’s initial spike.
Politicians should not be allowed to use their status as elected officials to gain an unfair advantage and enrich themselves. Existing ethics laws do not do enough to prevent senators and representatives from using the information they receive in the course of their legislative duties for personal profit. In fact,in January that 57 members of Congress failed last year to comply with even the basic reporting requirements of the STOCK Act, a 2012 law passed to try and stop congressional insider trading. We can’t trust members of Congress to keep themselves honest when it comes to stock trading.
Very little unifies the American public these days, but the widespread national outrage at public corruption comes close. Anof Americans—including 78 percent of Republicans—believe that members of Congress should not be allowed to buy or sell stocks while in office. Despite unrelenting gridlock on big issues, a number of major bills with bipartisan support are being considered to stop stock trading in Congress.
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