{"id":1230288,"date":"2022-01-21T16:08:45","date_gmt":"2022-01-21T21:08:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1230288"},"modified":"2022-01-21T16:09:19","modified_gmt":"2022-01-21T21:09:19","slug":"wapo-editorial-board-endorses-ban-on-lawmakers-trading-stocks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wapo-editorial-board-endorses-ban-on-lawmakers-trading-stocks\/","title":{"rendered":"WaPo Editorial Board Endorses Ban on Lawmakers Trading Stocks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwapo-editorial-board-endorses-ban-on-lawmakers-trading-stocks%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1230288&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">The <em>Washington Post<\/em> editorial board on Thursday endorsed the idea of banning lawmakers from trading individual stocks.<\/p>\n<p>While lawmakers have reportedly&nbsp;<a href=\"https:\/\/unusualwhales.com\/i_am_the_senate\/full\">bought and sold<\/a> nearly $290 million throughout 2021 in equities alone, the paper owned by billionaire Jeff&nbsp;Bezos announced it&nbsp;<a href=\"https:\/\/www.washingtonpost.com\/opinions\/2022\/01\/20\/members-congress-should-not-be-allowed-trade-individual-stocks\/\">opposes<\/a> lawmakers, their spouses and dependent children from trading stocks, calling it \u201ceasy to understand \u2014 and implement\u201d:<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<blockquote>\n<p>Senators and representatives receive a substantial amount of information that the public does not, including details about how U.S. companies operate and how the government scrutinizes businesses. The fact that so much congressional stock trading goes on \u2014 with&nbsp;thousands of stocks&nbsp;traded each year by members of both parties \u2014 raises legitimate questions about whether lawmakers are using their access to that information to enrich themselves, rather than to serve the public.<\/p>\n<\/blockquote>\n<p>The <em>Post<\/em>&nbsp;questioned what should be done about stocks previously bought before the lawmakers assumed office. \u201cAnd what about stocks purchased before a member is elected? Should those have to be sold or is it sufficient to put them in a blind trust?\u201d it wrote.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8BREAKING NEWS\ud83d\udea8<\/p>\n<p>I have just released the full trading report on politicians in 2021.<\/p>\n<p>In short, many beat the market.<\/p>\n<p>They traded more than ever before.<\/p>\n<p>And they made numerous unusually timed trades, resulting in huge gains.<\/p>\n<p>Read it here: <a href=\"https:\/\/t.co\/CQ6JphecwZ\">https:\/\/t.co\/CQ6JphecwZ<\/a> <a href=\"https:\/\/t.co\/ra9DEjV0ok\">pic.twitter.com\/ra9DEjV0ok<\/a><\/p>\n<p>\u2014 unusual_whales (@unusual_whales) <a href=\"https:\/\/twitter.com\/unusual_whales\/status\/1480656947577860096?ref_src=twsrc%5Etfw\">January 10, 2022<\/a><\/p>\n<\/blockquote>\n<p>The paper also pointed to House Speaker Nancy Pelosi (D-CA) as a \u201croadblock to the ban\u201d and noted \u201c[h]er husband, Paul, has been a&nbsp;<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-07\/pelosi-s-husband-locked-in-5-3-million-from-alphabet-options?sref=a5mft8DW\" target=\"_blank\" rel=\"noopener\">frequent trader<\/a>&nbsp;over the years\u201d:<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<blockquote>\n<p>Last month, Ms. Pelosi stunned many, including this editorial board, when she&nbsp;<a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/12\/21\/nancy-pelosi-wrong-lawmakers-trade-stocks\/?itid=lk_inline_manual_18\" target=\"_blank\" rel=\"noopener\">defended congressional stock trading<\/a>. She argued it\u2019s enough that lawmakers have to disclosure their trades for the public to see. In reality, 54 members of Congress failed to disclose their trades on time in the past two years, according to an&nbsp;<a href=\"https:\/\/www.businessinsider.com\/congress-stock-act-violations-penalties-consequences-2021-12\" target=\"_blank\" rel=\"noopener\">Insider investigation<\/a>.<\/p>\n<\/blockquote>\n<p>On Thursday, Pelosi <a href=\"https:\/\/www.breitbart.com\/politics\/2022\/01\/10\/democrat-sen-jeff-merkley-admits-pelosis-stock-trading-sways-her-legislative-judgment\/\">changed her mind<\/a> and told reporters she is open to <a href=\"https:\/\/www.npr.org\/2022\/01\/20\/1074387320\/pelosi-opens-the-door-to-stock-trading-ban\">banning<\/a> members from trading stocks.&nbsp;\u201cI just don\u2019t buy into it, but if members want to do that I\u2019m OK with that,\u201d Pelosi said.<br \/>\u201cWe\u2019re a free-market economy,\u201d Pelosi&nbsp;said December 16. \u201cThey [lawmakers] should be able to participate in that.\u201d<\/p>\n<div id=\"attachment_19320218\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/capitol-breach-pelosi-threat-speaker-of-house-nancy-pelosi-calif-speaks-news-conference-at-capitol.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-19320218\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/capitol-breach-pelosi-threat-speaker-of-house-nancy-pelosi-calif-speaks-news-conference-at-capitol.png\" alt=\"Speaker of the House Nancy Pelosi, D-Calif., speaks during a news conference at the Capitol in Washington, Dec. 2, 2021. A North Carolina man who came to Washington armed with guns and threatened to shoot House Speaker Nancy Pelosi the day after the Jan. 6 riot was sentenced Tuesday, Dec. 14, to more than two years and four months in prison. (AP Photo\/J. Scott Applewhite, File)\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>Speaker of the House Nancy Pelosi (D-CA) speaks during a news conference at the Capitol in Washington, Dec. 2, 2021. (AP Photo\/J. Scott Applewhite, File)<\/em><\/p>\n<\/div>\n<p>The&nbsp;<em>Post\u2019s<\/em>&nbsp;endorsement of banning congressional stock trades comes as House Minority Leader Kevin McCarthy (R-CA) is reportedly&nbsp;<a href=\"https:\/\/www.breitbart.com\/politics\/2022\/01\/11\/report-kevin-mccarthy-weighs-banning-lawmakers-from-holding-trading-stocks\/\" target=\"_blank\" rel=\"noopener\">weighing<\/a>&nbsp;a ban on congressional stock trading if he wins the speaker\u2019s gavel in November. Several bills have been written to facilitate the ban, though fresh bills would need to be refreshed when the next Congress takes office.<\/p>\n<div id=\"attachment_19443906\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/Stocks.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-19443906\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/Stocks.jpg\" alt=\"House Minority Leader Kevin McCarthy of California speaks with reporters during a news conference on Capitol Hill, Wednesday, Nov. 3, 2021, in Washington.\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>House Minority Leader Kevin McCarthy of California speaks with reporters during a news conference on Capitol Hill, Wednesday, Nov. 3, 2021, in Washington. (Alex Brandon\/AP)<\/em><\/p>\n<\/div>\n<p>According to UnusualWhales.com, lawmakers are&nbsp;<a class=\"editor-rtfLink\" href=\"https:\/\/unusualwhales.com\/i_am_the_senate\/full\" target=\"_blank\" rel=\"noopener\">taking<\/a>&nbsp;advantage of their elected positions that entail information to which average Americans are not privy:<\/p>\n<blockquote>\n<p>Congress bought and sold nearly $290 million in stocks (corresponding to 3,500+ transactions by 105 members of Congress), $140 million in options contracts (270+ transactions by 6 members), $124 million in other securities like private equity funds (200+ transactions by 19 members), and $500k in cryptocurrencies (25 transactions by 6 members). 430 members did not take a trade in 2021.<\/p>\n<\/blockquote>\n<p>Those lawmakers who have reportedly raked in the largest gains from the stock market include five Republicans:<\/p>\n<p><strong>Austin Scott (R-GA)&nbsp;<\/strong><\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<ul>\n<li>House Armed Services Committee<\/li>\n<li class=\"font-copy font--article-body gray-darkest ma-0 pb-md\">Subcommittee on Commodity Exchanges, Energy, and Credit<\/li>\n<li class=\"font-copy font--article-body gray-darkest ma-0 pb-md\">Subcommittee on Biotechnology, Horticulture, and Research<\/li>\n<\/ul>\n<p><strong>Brian Mast (R-FL)<\/strong><\/p>\n<ul>\n<li>Transportation &amp; Infrastructure Committee<\/li>\n<li>Foreign Affairs Committee<\/li>\n<li>Subcommittee on Water Resources &amp; Environment<\/li>\n<li>Subcommittee on Middle East, North Africa, and International Terrorism<\/li>\n<li>Subcommittee on Europe, Energy, the Environment, and Cyber<\/li>\n<\/ul>\n<p><strong>French Hill (R-AR)<\/strong><\/p>\n<ul>\n<li>House Committee on Financial Services<\/li>\n<li>Subcommittee on Investor Protection, Entrepreneurship and Capital Markets<\/li>\n<li>Subcommittee on Housing, Community Development and Insurance<\/li>\n<li>Subcommittee on National Security, International Development and Monetary Policy<\/li>\n<\/ul>\n<p><strong>John Curtis (R-UT)<\/strong><\/p>\n<ul>\n<li>House Energy and Commerce Committee<\/li>\n<li>Subcommittee on Health<\/li>\n<li>Subcommittee on&nbsp;Communications &amp; Technology<\/li>\n<li>Subcommittee on Environment &amp; Climate Change<\/li>\n<\/ul>\n<p><strong>Dan Crenshaw (R-TX)<\/strong><\/p>\n<ul>\n<li>House Energy and Commerce Committee<\/li>\n<li>Subcommittee on Health<\/li>\n<li>Subcommittee on Environment and Climate Change<\/li>\n<\/ul>\n<p>A&nbsp;Trafalgar Group poll&nbsp;<a class=\"x5l\" href=\"https:\/\/thehill.com\/homenews\/news\/588630-76-percent-of-voters-support-banning-lawmakers-from-trading-stocks-poll\" target=\"_blank\" rel=\"noopener external\">revealed<\/a>&nbsp;76 percent of voters believe congressional members and their spouses have an \u201cunfair advantage\u201d trading stocks. Only five percent of voters supported stock trading by lawmakers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Washington Post editorial board on Thursday endorsed the idea of banning lawmakers from trading individual stocks. While lawmakers have reportedly\u00a0bought and sold nearly $290 million throughout 2021 in equities &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1230288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1230288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1230288"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1230288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1230288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1230288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1230288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}