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GOP and Democratic Leadership Are “Open” to Banning Congressional Stock Trading. Now What?
I don’t buy it. At all.
When it comes to American politics, corruption is at the center of it. There’s no denying that money has become the single greatest motivating or explanatory factor in whether or not legislation gets passed, and the phrase “follow the money” generally leads to all the answers. As many of us probably remember, one of the most closely followed electoral races in the country leading up to the 2020 election involved GOP Georgia Senators Kelly Loeffler and David Perdue, both of whom were being investigated for insider trading following their briefing on the Covid-19 pandemic.
Of course, it’s not just a GOP issue.
Nancy Pelosi’s stock trading practice — and her husband’s — have been called into question many times in recent years, the two of them making moves that leave little doubt that they are privy to information that the rest of us are not. Congress overall regularly outperforms the market, and reminds us exactly why people who make decisions that can effect the market literally every single day should not have the ability to make trades that can impact their bottom line.
Well, recently more intense scrutiny of this practice has prompted some lawmakers to address the issue. Or…
