Posted on 09/03/2025 1:51:25 PM PDT by Angelino97
Progressive darling Alexandria Ocasio-Cortez is teaming up with Republicans on a rare issue they have in common - taking down their colleagues who may be cashing in on insider information.
Outrage has been growing about members of Congress who have been unfairly profiting from trading the very stocks they regulate.
Many lawmakers have become multi-millionaires after working in Washington despite making an annual salary of just $174,000.
There's been heavy scrutiny on ex-Speaker Nancy Pelosi, after her net worth nearly doubled to $265 million since 2013. Though the former speaker never tried to ban congressional trading during her tenure, she has recently signaled her support for it.
Freshman Rep. Rob Bresnahan, R-Pa., has also raised suspicions after he campaigned on banning trading for members before becoming one of the most prolific traders in Congress this year, with over 600 transactions since January.
Now Rep. Chip Roy, R-Texas, is bringing together a group of staunch right-wing conservatives, left-wing progressives and centrists to try and pass a bill that would outlaw lawmakers, their spouses and dependent children from trading stocks.
Progressive 'Squad' members Reps. Alexandria Ocasio-Cortez and Pramila Jayapal, D-Wash., are working with conservative firebrands Anna Paulina Luna, R-Fla., and Tim Burchett, R-Tenn., a rare sight in a divided Washington...
Roy's new piece of legislation combines many central tenets of the different bills into one uniform package. The bill, co-led by Rhode Island Democrat Rep. Seth Magaziner, would force lawmakers to sell their individual stocks within 180 days of the measure's passage.
It would also require new members to divest their holdings before taking office. Those who don't would face a fine of 10 percent of the value of their stock holdings.
(Excerpt) Read more at dailymail.co.uk ...
Cue Admiral Ackbar -- "IT'S A TRAP!"
Just Bullcrap virtue signaling. They are in the big club. If they don’t personally benefit from insider trading their fake spouse will, their family will, their PACs will, their stock brokers will, and it will all get funneled back in to their pockets one way or another.
Stocks aren’t the only thing Pelosi cheated on. She managed to get American Samoa exempt from Federal minimum wage laws. Guess who’s husband has a major stake in a tuna fishing plant in American Samoa?
Its not a bad idea but how is it enforceable ? They could just have their spouse or sibling buy the stocks
Where do they get these people? No one else is qualified?
Best way to deal with all such abuses of power by Congress is term limits. Five 2-year terms for the House, two 6-year terms for the Senate. If you can’t get done what you need to in Congress in that time, that’s your problem. Get out.
Insider trading is already against the law. Ask Martha Stewart. Why create new laws when you can just enforce the ones on the books, now?
When Congress was briefed about the severity of COVID-19, they told their constituents nothing while trading out of their stock portfolios.
I would propose paying congressmen $1 million a year with the condition all their assets are put in a blind trust during their time in office.
Everyone wants to “punish” congressmen and women, but remember, they are YOUR elected representatives.
Anything which makes Congress tourists or which dissuades intelligent and competent people from running for office, gives even more power to the vast, unelected, permanent deep-state.
Actually, congress made themselves exempt from insider trading laws.
Ilhan Omar, AOC, Matt Gaetz and MTG all voted against the bill to ban TikTok.
Not to defend her, but it was common knowledge that the Tuna plant would shut down if they raised the minimum wage there.
Republicans like bring it up but it is common knowledge. And its closure would send unemployment up dramatically there.
Even President Trump is against it now, so there is that.
I think you are right about this. Its like hiring a homeless man to work as a bank teller and being shocked, shocked I say, that they steal.
Right. He had no choice but to use TikTok in 2024. It worked. Otherwise, there was no way to get his message out.
I am not criticizing him at all, just reminding people that listed the other names that sometimes things change.
That what they would have you believe. Actually, the plant was profitable and could have paid the increase wage costs even if prices were not raised. The real reason is that his ROI would have dropped.
Translation: Her fiancé will still be free to trade, but those married fogies’ spouses would not!
Very encouraging
My reaction, too! they must have a new racket.
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