Stakeholders, Stockholders: Lawmakers and Their Energy Investments

wsj.com ^ | 6/17/2009 | Keith Johnson

[shove_it]

Maybe it shouldn’t be, but this still seems jarring:

As Congress moves ahead with climate-change legislation touching almost every corner of the energy industry, a number of lawmakers shaping the debate have investments in companies that would be affected by the results […] According to congressional financial-disclosure forms released last week, more than a quarter of the 48 members of the House Energy and Commerce Committee spearheading climate-change legislation had investments in energy, oil and natural-gas companies at the end of 2008, the most recent information disclosed.

[...]

What’s especially eye-opening (at least for folks like us that don’t prowl the thickets of congressional ethics rules) is this: “It is legal for lawmakers to own shares in companies affected by their legislation. House and Senate ethics laws allow members of Congress to hold a financial interest in a company unless a law they pass would benefit only themselves.”

[...]

[shove_it]

Here's a related article, embedded in the one posted above, titled “Legislators Framing Climate Bills Hold Energy Stock”:

http://online.wsj.com/article/SB124519704993421187.html?mod=googlenews_wsj

Names and investments are exposed.

[ridesthemiles]

I have long thought that Congress and Washington in general is the largest source of INSIDER TRADING this country has ever had.

[Ben Ficklin]

But, But, But, I thought the only one was Pelosi’s investment in T Boone’s.

[shove_it]

Chuckle! Boone is the biggest target. I’m surprised the investments stated in the article are so small.