Tag Archives: STOCK Act

Fresh Calls for Stock Trading Ban After US Lawmakers Beat Market in 2023

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“Members of Congress should not be allowed to trade stock,” said one former congressional candidate. “It’s corruption.”

By Jessica Corbett. Published 1-3-2024 by Common Dreams

Screenshot: Yahoo Finance

A financial watchdog group on Tuesday released its annual report on congressional stock trading, which shows that “Congress blew the market out of the water” in 2023, fueling fresh calls for a ban targeting U.S. lawmakers and their immediate family members.

“Members of Congress shouldn’t be allowed to trade stocks of the companies they regulate for the same reasons referees aren’t allowed to bet on the games they officiate,” Melanie D’Arrigo, a former Democratic congressional candidate who is now executive director of the Campaign for New York Health, said in response to the Unusual Whales report.

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‘Huge News’ as Congress Tightens Ethics Rules for Federal Judges

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It’s “vital legislation that will boost public trust in the judiciary and codify judicial ethics,” said one watchdog group.

By Andrea Germanos  Published 4-27-2022 by Common Dreams

Photo: wp paarz/flickr/CC

Ethics watchdogs on Wednesday welcomed passage of legislation tightening financial disclosure requirements for federal judges as a step toward addressing a widespread crisis that still requires broader reforms.

The legislation is the Courthouse Ethics and Transparency Act, which takes on “the alarming lack of transparency in the personal financial holdings of federal judges, and the conflicts—or appearance of conflicts—those holdings can create in the cases those judges are asked to decide,” as the House Judiciary Democrats put it. Continue reading →

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‘A No-Brainer’: Lawmakers Urge Pelosi to Hold Vote on Stock Trading Ban

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“Perhaps this means some of our colleagues will miss out on lucrative investment opportunities,” said House members in a bipartisan letter. “We don’t care.”

By Jessica Corbett  Published 1-24-2022 by Common Dreams

Photo: Gage Skidmore/flickr/CC

A bipartisan group of U.S. lawmakers on Monday urged the top Democrat and Republican in the House of Representatives to “swiftly bring legislation to prohibit members of Congress from owning or trading stock” to the floor.

The call came in a letter to House Speaker Nancy Pelosi (D-Calif.)—who has faced criticism for defending her husband’s trades and existing rules—and Minority Leader Kevin McCarthy (R-Calif.), who is reportedly considering enacting a ban on lawmakers trading if the GOP wins control of the chamber in this year’s midterms. Continue reading →

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