Companies give members of Congress special access to IPO stock before it’s available to the public. Trading stock based on classified government information isn’t the only way our elected officials have made it big in the stock market. Insider trading is a criminal offense for most Americans, but these trades were 100% legal for the members of Congress who used positions as “public servants” to turn a handsome profit for themselves. He cleverly arranged his portfolio so that if the American people lost, he would make a profit. Representative Spencer Bachus publicly tried to prevent the American economy from crashing - while privately betting it would.

Congressman Jim Moran jumped ship too, frantically trading stock in 90 different companies - his biggest trading day of the year. Senator Shelley Capito (R-WV) and her husband dumped between $100,000 and $250,000 of Citigroup stock on the 18th of November 2008 at $83 per share. The next day Citi stock fell to $64 per share. The day after the meeting with the Treasury, at least 10 senators made trades to protect their financial interests, while Americans remained in the dark. Congress had been forewarned about the impending economic bombshell in secret meetings with the Treasury Department and the Fed, and they used that information to move their personal funds out of the market at lightning speed. Meanwhile, millions of Americans lost their homes and their life savings. Just 12 days before the 2008 economic meltdown, several members of Congress pulled their money out of the stock market. Share Tweet Link Insider Trading and the Stock Market Crash This isn’t a scandal yet, but we can make it one - will you add your name to demand that John Boehner’s handpicked lawyer stops stonewalling investigators? Unless there’s another wave of public outrage, Congress will continue to flout the rules and make it near-impossible to enforce the laws that are already in place. The only reason the STOCK Act passed in the first place was due to a massive public outcry. Worse still, the House Counsel’s Office, led by Speaker John Boehner’s handpicked lawyer, is actively stonewalling the first ever investigation into Congressional insider trading by claiming “immunity” from the very law they bragged about passing just a few years earlier. Now that they think nobody’s watching, Congress has gutted a key disclosure provision of the STOCK Act. In the ensuing public outrage, Congress passed a law called the STOCK Act, and took a loud victory lap for supposedly putting an end to their own unscrupulous behavior. In 2011, a CBS investigation blew the lid off of one of Washington’s most poorly-kept secrets: members of Congress were routinely exploiting legal loopholes to engage in insider trading and line their own pockets - a criminal offense for regular citizens. Members of the House Committee on Transportation and Infrastructure Trade Auto Industry Stocks More than Twice as Often as Most Other Congressional Committees Data Source: Yahoo Finance (for stock industry classifications) and for trading data propublica congress API for committee assignment data.2022 Update: Congress makes the rules and continues to profit.OGE fined her and if she screws up again she'll get the second penalty.

Senator Lummis Defends Owning Bitcoin as a Policymaker | Decrypt It already did.But like others have said, reporting trades can be delayed quite a while. How Do Politicians Keep Getting So Rich? (2022) Senate stock tracker: Https:///.Https:// - see the stock trades us senators are making as they are reported. 31 fun websites - finally solve that rubix cube, rent a hitman, if walls could talk, raise a virtual pet, invest in what other senators are investing.

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