A hot topic in US politics right now is whether members of Congress should be able to trade stocks while in office. Georgia Senator Jon Ossoff plans to introduce a bill that would bar members and their immediate family members from trading individual stocks in the stock market, which comes in the wake of a massive congressional insider-trading scandal in 2020 and a five-month investigation by Business Insiderinto federal lawmakers’ personal finances.
To briefly summarize, that investigation revealed at least 54 members of Congress and 182 senior-level congressional staffers had violated federal conflict-of-interest laws. It also found that the STOCK Act, which exists to punish this kind of behavior, is inconsistently applied – if at all.
On specific issues, at least 75 members of Congress have invested in Covid-19 vaccine makers, many have invested in sectors like tech and cryptocurrency, and there are at least 15 members directly shaping defense policy who are invested in military contractors.
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