Some Lawmakers Push to Ban Stock Trading by Colleagues

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Some lawmakers are pushing for tighter rules on stock trading by members of Congress, citing sensitive information and possible conflicts of interest

FBI officials conducted investigations into then Sen. Kelly Loeffler, a Republican from Georgia, and Sens. James Inhofe , Richard Burr and Dianne Feinstein , andThe Senate bill, which would continue to allow lawmakers to directly control mutual-funds holdings and other diversified products, doesn’t have any Republican co-sponsors and isn’t expected to come up for a vote soon. In the House, Rep. Abigail Spanberger and Rep. Chip Roy have a similar bill with 15 sponsors.

Asked on CNBC last week about banning lawmakers from trading individual stocks, White House spokesman Brian Deese called the idea sensible and said such a move would help “restore faith in our institutions.” “It’s important to realize, for instance, I am 61 years old, for 40 years I’ve been building up a retirement, mostly in stocks. It’s not as easy as ‘don’t do stocks,’” said Rep. John Curtis , who worked in the private sector before being elected as mayor of Provo, Utah, in 2009. The majority of his portfolio is controlled by a financial adviser, he said.

 

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I think law makers should be fired. We need new laws but people of law should not be making them because they have no idea of law. You want tighter rules now after congress already made $$$ who cares now. Market is in a shit now they all cashed out

Not tighter rules. The elimination of trading stocks for Congress and family members!

Does Congress have a personal securities trading policy?

It’s about time. Pelosi and her husband are insider traders ( See Visa IPO ) and have become even wealthier as a result of their legal but unethical behavior! Just shameful!

'Possible' conflicts of interest? Are you serious? Share the drugs your journalists are smoking because it has been a long-proven indisputable fact that it IS a conflict of interest.

Overdue

Again? When are they gonna NG to be serious about it? Never?

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