Published On: Sat, Oct 1st, 2022

Democrats Said They Wanted To Ban Congress From Trading Stocks. So What Happened?

Nancy Pelosi makes an incredulous face

After months of discussions, it looked like the House was actually going to vote on a bill proposing to ban lawmakers and their spouses from owning or trading stocks. Public scrutiny of congressional stock trading was severely heightened during the COVID-19 pandemic, when lawmakers and their families just happened to dump stocks right before the market took a nosedive, or else they bought stock in certain pharmaceutical companies (this was pre-vaccine), even as some of those same lawmakers were actively downplaying the severity of the virus.

But this is not an issue limited to just the pandemic and it’s definitely not limited to just a few anti-vax-except-for-profit Republicans. Reporters from various outlets found 72 members of Congress who just recently violated the STOCK (Stop Trading on Congressional Knowledge) Act, which was passed in 2012 and aimed to ensure transparency in Congressional trading and to prevent conflicts of interest and insider trading.

The Mary Sue

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