Congress Stock Trading Ban Benefits Trump-Paleosi is not likely to be likely

It is rare to detect areas of agreement between President Donald Trump and former house speaker Nancy Pelosi. But both of them are supporting a Congress bill that will ban Congress members and their homes from business shares.

The Vidhan, which approved its committee of jurisdiction at the end of July, received widespread bilateral support and will help prevent public corruption by restoring the trust of Americans in the Congress.

Common sense suggested that the Congress should not actively have trading stocks and bonds, while they are holding the post. And in 2023, 86% of those involved in the survey as a part of the University of Maryland supported the ban on Congress’s stock trading, with Republicans and Democrats showing almost the same levels of support.

As Treasury Secretary Scott Besent insisted in the August 14 interview, the credibility of the house and the Senate is at stake when members trade individual shares. He highlighted the “I-Popping Return”, earning by some members, given that “every hedge fund would be jealous of him.”

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From the Treasury Officer’s point of view, the issue is beyond morality. It touches the integrity of our financial system.

Markets rely on trust, transparency and a level playground. When members of Congress trade stock affect information or affect general investors, it reduces public confidence in both the government and the economy.

In Treasury leadership, there is a vested interest in ensuring that the policy is designed to serve the public, not to generate personal benefits, because the credibility of the United States as a financial stevard depends on it.

Apart from President Trump and Pelosi, the Congress, which supports the ban, has many other unexpected bedfillows. They rape. Alexandria Okasio-Cortez, DNY., And Sen Ron Widen, D-Ore, and Rape Chip Roy, R-Texas, and Sen Josh Josh Hale, R-Mo are conservatives. In particular, Mike Johnson, R-La., House Speaker, and Hakim Jeffrees, DNY., Minority Leaders, both supported the ban.

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Palosi’s support for the law is notable that with stock trading, looking at the well -written history of his families. Last year, her husband, Paul made headlines by selling $ 500,000 and $ 1 million between visa shares of $ 500,000 and $ 1 million a few weeks before the justice department brought a civil antitush suit against the company. Lan -Deen estimated that Paul Pelosi may have been closed about the possibility of his wife, or the possibility of contacts in the biden administration, files against the visa.

The presidential election was filed exactly six weeks before the election, the claim of monopoly of visa suits was reduced by a simple fact: the network faces strong competition from other debit card companies, as well as new payment networks such as Zel and Venmo. But as the legal process comes out, the Congress’s stock trading remains the issue. And the amount of activity is breathtaking.

Last year, 120 Congress members traded over 9,400, according to Capital Trades, a platform that tracks market trade by elected officers of the US. The performance of some members shows that they should go to Wall Street. Another platform, according to the unusual whale, the top 10 – six Republicans and four democrats – all had more than 70%returns. And it was in a year when S&P 500 returned only 25%.

This year more trading is scheduled to be more trading. Through August 19, there were already around 9,200 trades, including over $ 395 million.

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Is this business affecting public policy? It is difficult to know, of course. But a few years ago, the New York Times had examined trades made by Congress members from 2019 to 2021. Paper reported that there were 97 senators or representatives “who reported the trades in stock or other financial assets or immediate family members, who intensify with the work of the committees, on which they serve.”

In one example, a Congressman from California revealed that his wife sold Boeing shares on March 5, 2020. He was releasing a report just a day before a committee, in which the company was criticized for the company’s 737 Max Jet’s two deadly accidents.

This market is rare to prosecute Congress members for trade, but not unheard. In 2019, Chris Collins, a Congressman from New York, resigned after sharing confidential company information with his son and convicted for federal agents for lies about it. He was sentenced to 26 months in jail (and later forgiven by President Trump).

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Stock trading by Congress members, and doubt that the activity is attached, contributes to mistrust in the government. Last year, a Pew Survey found that only 2% of the Americans believed that the federal government would do what “always” is “right and just 21% said,” Most of the time. ” This mistrust is unhealthy to the democracy of the country, whether you are a Republican or Democrat, and either makes your agenda more difficult for the party to forward.

Trading stocks will help restore confidence in the federal government by banning Congress members. A ban will also be an opportunity for members of both sides to come together in support of a measure that will benefit the entire country. This cannot happen soon.

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