{"id":1599162,"date":"2022-08-10T12:47:23","date_gmt":"2022-08-10T16:47:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1599162"},"modified":"2022-08-10T12:47:49","modified_gmt":"2022-08-10T16:47:49","slug":"ian-haworth-insider-trading-in-congress","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ian-haworth-insider-trading-in-congress\/","title":{"rendered":"Ian Haworth: Insider Trading in Congress"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/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%2Fian-haworth-insider-trading-in-congress%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=1599162&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--><div><\/div>\n<h3 class=\"subtitle\">How Congress makes millions on insider information<\/h3>\n<div dir=\"auto\" class=\"body markup\">\n<p>In the second episode of my new show, \u201cOff Limits with Ian Haworth,\u201d we dived into the arguable corruption in Congress surrounding insider trading.<\/p>\n<p>Full episodes are available on Sundays 9pm EST, exclusively on YouTube.<\/p>\n<div>\n<hr \/>\n<\/div>\n<p>Congress is supposed to be limited by what\u2019s known as the Stop Trading on Congressional Knowledge Act (or STOCK Act). It was passed in 2012, and (supposedly) bans politicians from trading on confidential information they learn while in office, and requires members of Congress to disclose all transactions over one thousand dollars within 45 days.\u00a0<\/p>\n<p>If they are late, they\u2019re fined\u2026$200 for their first offense.<\/p>\n<p>Amazingly, this fine isn\u2019t the insurmountable deterrent they thought, because this law has been violated by 66 members of\u00a0 Congress, and counting, leading to renewed calls for legislators to be banned from trading individual stocks.<\/p>\n<p>The truth is, members of Congress trade individual stocks. A lot. And what\u2019s super duper weird is how good they are at it.<\/p>\n<p><span>According to <\/span><a href=\"https:\/\/www.nasdaq.com\/articles\/an-overview-of-congressional-trading-in-2021\" rel=\"\">NASDAQ<\/a><span>, just in 2021, Congress bought and sold well over $500 million  worth of stocks, options, securities, and cryptocurrencies. And so many of them were just\u2026so lucky.<\/span><\/p>\n<p>In fact, they did so well, the 2021 Congress beat the market, helped by some\u2026unusual trades.<\/p>\n<p>Senator Tommy Tuberville bought up to $1.84 million in non-energy mineral stocks like copper, steel, and aluminum, just before Biden signed his infrastructure bill. He also sold up to $15,000 in Microsoft stocks in late June, two weeks before a $10 billion  government contract was canceled.\u00a0<\/p>\n<p>Tuberville sat on the Senate Armed Services Committee, which has access to defense contracts\u2026<\/p>\n<p>Just like House Republican Pat Fallon, who sits on the House subcommittee which reviews defense contracts, who sold $250,000 of Microsoft stock right before the deal fell apart.<\/p>\n<p>House Republican Brian Mast bought stocks in cannabis company Tilray just before voting in support of the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. He sold the stock for a return of 563 percent.<\/p>\n<p>House Republican Kevin Hern \u2014 who sits on the House Budget Committee \u2014 bought stocks in Lockheed Martin in August, and again just weeks before the arms company won a $10.9 billion government contract. House Democrat Kathy Manning \u2014 who sits on the House Foreign Affairs committee \u2014 bought Lockheed Martin stocks two weeks before the deal.<\/p>\n<p>What a coincidence!<\/p>\n<p>House Democrat Zoe Lofgren bought up to $15,000 in an electric vehicle manufacturing company, and has co-sponsored electric vehicle tax credit proposals in the past.<\/p>\n<p>Then there\u2019s the world of cryptocurrency. <\/p>\n<p>Senator Cynthia Lummis bought up to $100,000 of Bitcoin in August, while the Senate was drafting crypto regulations. Senator Pat Toomey also drafted amendments to these crypto regulations\u2026while holding crypto.<\/p>\n<p>Then there\u2019s Nancy Pelosi.<\/p>\n<p>In March of last year, the Pelosi power couple bought millions in Microsoft stock. And what do you know? Under two weeks later, Microsoft announced a $22 billion  contract with the U.S. Army, putting them up 160 percent.<\/p>\n<p>This year, just a few weeks before Congress voted on whether to invest $54 billion in semiconductor manufacturing and research in the U.S., Paul Pelosi invested millions in NVIDIA. <\/p>\n<p>What do they make? Semiconductors. Where are they based? Silicon Valley which is *checks notes* in the U.S.<\/p>\n<div id=\"youtube2-PDfVeXuVj7c\" class=\"youtube-wrap\" data-attrs=\"{\" videoId><\/div>\n<div class=\"subscription-widget-wrap\">\n<div class=\"subscription-widget show-subscribe\">\n<div class=\"preamble\">\n<p>This is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>How Congress makes millions on insider informationIn the second episode of my new show, \u201cOff Limits with Ian Haworth,\u201d we dived into the arguable corruption in Congress surrounding insider trading.Full<\/p>\n","protected":false},"author":1,"featured_media":1599257,"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-1599162","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\/1599162","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=1599162"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1599162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1599257"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1599162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1599162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1599162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}