Posted on 10/11/2022 8:41:55 AM PDT by crusty old prospector
Thousands of officials across the government’s executive branch reported owning or trading stocks that stood to rise or fall with decisions their agencies made, a Wall Street Journal investigation has found. More than 2,600 officials at agencies from the Commerce Department to the Treasury Department, during both Republican and Democratic administrations, disclosed stock investments in companies while those same companies were lobbying their agencies for favorable policies. That amounts to more than one in five senior federal employees across 50 federal agencies reviewed by the Journal.
A top official at the Environmental Protection Agency reported purchases of oil and gas stocks. The Food and Drug Administration improperly let an official own dozens of food and drug stocks on its no-buy list. A Defense Department official bought stock in a defense company five times before it won new business from the Pentagon.The Journal obtained and analyzed more than 31,000 financial-disclosure forms for about 12,000 senior career employees, political staff and presidential appointees.
The review spans 2016 through 2021 and includes data on about 850,000 financial assets and more than 315,000 trades reported in stocks, bonds and funds by the officials, their spouses or dependent children.
(Excerpt) Read more at stocks.apple.com ...
Whenever the absence of corruption is found, THAT is newsworthy. Our government may not be salvageable.
Isn’t that trading stocks on insider information? Which happens to be illegal? Anyone ask Martha Stewart?
The article is written in the spirit of “too big a problem to care” thesis.
Get rich quick with this one trick.
This is a policy that needs to be addressed and enforced. I work for an agency that has hired a few seasoned employees who worked for the contractor. Yes, managers to took a Govt Job.
Part of their retirement package was the contractor’s 401K program and stock purchase program. They do not purchase shares after they started with the agency; but we cannot force them to liquidate their retirement they started before beginning with the Agency
Then there is the consideration of whether they are in a position to influence (either positively or negatively) future Govt contracts. I understand and support the idea of Govt agents or politicians benefiting from stock, via insider trading.
But there are exceptions
I’m sorry, but we are going to have to start hanging thieves.
There are too many of them and they aren’t afraid of having to go to prison.
I’ve said for years
Term Limits and Stock Limits on Congressmen are wrong-footed and actually weaken the republic.
Fed.gov is so bloated and massive, its the MIC and bureaucrats who actually make the regulations and receive the bulk of lobbying efforts. They build fiefdoms which are completely unaccountable.
At least you can campaign against a corrupt congressman. You have Zero input over the likes of Fauci or Comey
TERM LIMITS for all Fed.gov bureaucrats and their programs FIRST
Of course, been happening for a looong time. They legislate for their lobbyists to a profitable outcome for themselves.
Martha lied to the FBI... a separate crime
Don’t we already know this? Right up there with giving family memebers businesses government contracts
Good work if you can get it.
p
we slaves who lost 20-50% are getting really pissed..
A term was coined years ago: “Regulatory Capture”.
I have a SIL who still believes all regulators are as pure as the driven snows. Votes Democrat, of course.
Corruption is endemic to government, at every level. Makes it right? No. I would prefer laws that make it required for all public officials, elected or appointed (including all judges), to put their investments in a blind trust. You are not forced to work in government, but if you choose to any hint of possible conflict of interest should be removed.
Didn’t Nan just invest in a drug company that makes radiation fall out treatment?
Didn’t XiDen even MORE recently just make a YUGE purchase of this drug?
Insider trading is reserved for swamp dwellers and she wasn’t one of them.
Yep... You can bet this practice goes back to the very beginnings of our Republic.
They all did their OGE450s and 1)nobody bothered to review them and/or 2) if reviewed, the contents were ignored.
I would love to see how many bureaucrats and politicians bought Pfizer stock in 2019
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