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POLITICS
Members of Congress Enriching Themselves Through Stock Trading
Why do they keep getting re-elected?
I get complaints that I only pick on Republicans, so today let’s pick on Democrats too. The New York Times is reporting that members of Congress were buying and selling bank stocks during the banking panic last March.
Why are we not surprised?
Here is a list of the Congressional members who got caught with their hands in the cookie jar by the New York Times:
Rep. Jared Moskowitz (D-Fla.)
Rep. Dan Goldman (D-N.Y.)
Rep. Ro Khanna (D-Calif.)
Rep. John Curtis (R-Utah)
Rep. Nicole Malliotakis (R-N.Y.)
Sen. Gary Peters (D-Mich.)
Of course, what they did was legal and they all had (lame) excuses for their actions. Most claimed to have luckily sold their stock before they were briefed on the banking situation.
Yeah, right.
Others claimed advice from their financial advisor, blind trusts, children’s accounts, joint account with wife, and my personal favorite — portfolio managed by a third party. That particular member is in the process of setting a blind trust.
