Congresses stocks

You can look at stock trades by members of Congress, not that I would rely on that info to invest, especially when you look at the overall finances of many Members who are heavily in debt. Federal transparency regulations require disclosure of trades presumable to monitor any conflict of interest or insider trading. Insider trading by a member of Congress is a crime. However, the warped mind of the likes of Rep Jayapal put a different spin on it.

If stock trades by a member of Congress are not related to insider illegal information, so what? If trades are publicly disclosed isn’t it easy to match those trades with information the Member may have had access to? There is no reason to believe Members are any better picking stocks than the rest of us even though Jayapal seems to think so.

It’s a privilege of the wealthiest to even own stock? That belief might be funny if it wasn’t pathetic – an insult to average Americans – and held by a person who can help right laws and shape policy. Fifty- six percent of all Americans own stock and that includes 63% of those earning between $40,000-$99,999.

2 comments

  1. Not sure what Jayapap meant by “privilege of the wealthiest to own stock” remark but I do think appearance of above board trading is key to running a market in an economy like the US. Whether or not there is any insider trading occurring if people lose faith in the markets then it is game over. Representatives should be subject to scrutiny as to trading while they are in office.

    I am an indexer myself so I don’t have to worry about what’s hot and what’s not. Even Warren Buffet says he has left instructions for his wife to be left in the S&P 500 after his demise. The American public has been served well by being able to buy and hold equities through their pension funds or retirement plans. If faith in the markets is lost then we would all lose.

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