{"id":2139295,"date":"2024-01-03T11:02:01","date_gmt":"2024-01-03T16:02:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-corrupt-congress-beat-the-market-again-in-2023\/"},"modified":"2024-01-03T11:07:55","modified_gmt":"2024-01-03T16:07:55","slug":"report-corrupt-congress-beat-the-market-again-in-2023","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-corrupt-congress-beat-the-market-again-in-2023\/","title":{"rendered":"Report: Corrupt Congress Beat The Market Again In 2023"},"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%2Freport-corrupt-congress-beat-the-market-again-in-2023%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=2139295&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 class=\"article-content\">\n<h2>The\u2064 118th Congress: Insider\u2063 Trading and Market Beating<\/h2>\n<blockquote>\n<p>The 118th Congress traded over $1 billion in 2023, with a third of \u200dtrading\u2062 members \u2064outperforming the S&#038;P 500 growth fund. This once again highlights the advantage of having insider information available to the nation&#8217;s primary legislative \u2062body.<\/p>\n<\/blockquote>\n<p>Financial data platform <a href=\"https:\/\/unusualwhales.com\/politics\/article\/congress-trading-report-2023\" target=\"_blank\" rel=\"noreferrer noopener\">Unusual Whales<\/a> released a report that reveals \u2062the stock trading activity of more than 100 members who disclosed their decisions.<\/p>\n<div class=\"fdrlst__b89e9-paragraph-2-long d-flex justify-content-center\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"fdrlst__b89e9-1114561303\">\n<div id=\"div-gpt-ad-1379703300879-0\" class=\"mb-30\"><\/div>\n<\/div>\n<div class=\"fdrlst__b89e9-074937a4443a1649e0384f5115730148 fdrlst__b89e9-paragraph-2\" id=\"fdrlst__b89e9-074937a4443a1649e0384f5115730148\"><\/div>\n<blockquote>\n<p>Attempts \u200dto ban members of Congress from\u200b trading stocks have failed, despite 86 \u2063percent of U.S. voters supporting such \u200ca ban. The allure of profitable market movements has proven too strong for Congress\u2062 to resist.<\/p>\n<\/blockquote>\n<p>In 2023, Congress sold more stocks than they bought. The number of elected members trading also decreased \u200bto 115, with close to 11,000\u200d transactions.<\/p>\n<p>Unusual Whales suggests that reduced trading activity \u200dfrom prominent congressional traders like Rep. Nancy Pelosi may be a campaign strategy, as voters closely monitor their \u200btrading \u2062behavior.<\/p>\n<div class=\"fdrlst__b89e9-d6985a1859f98b010f0e15008083d9bb fdrlst__b89e9-paragraph-6\" id=\"fdrlst__b89e9-d6985a1859f98b010f0e15008083d9bb\"><\/div>\n<blockquote>\n<p>&#8220;A general rule I&#8217;ve found\u200d is that if they&#8217;re\u200b up for re-election in 2024, then they&#8217;ve\u200b severely decreased and\/or stopped their trading activity in the last year,&#8221; the report states.<\/p>\n<\/blockquote>\n<p>Despite reducing her \u200cshare\u200d activity, Pelosi still made significant \u2063gains from her favorite NASDAQ participants\u2062 like Crowdstrike, Tesla, Apple, and Microsoft.<\/p>\n<figure class=\"wp-block-image size-large\"><\/figure>\n<p>Overall, the profitability of exchanged shares, including Congress&#8217;s \u200c&#8221;unusual trades and conflicts,&#8221; remained \u200dconsistent with previous years.<\/p>\n<p>&#8220;Many of the large portfolio gains are members who are holding unrealized gains in stocks like\u200c NVDA, or META, or other \u200ctech stocks,&#8221; the report states.<\/p>\n<div class=\"fdrlst__b89e9-f0d10d07b54563e04262c69c7d1a70d9 fdrlst__b89e9-paragraph-10\" id=\"fdrlst__b89e9-f0d10d07b54563e04262c69c7d1a70d9\"><\/div>\n<figure class=\"wp-block-image size-large\"><\/figure>\n<figure class=\"wp-block-image size-large\"><\/figure>\n<blockquote>\n<p>Democrats had a significant advantage over Republicans in stock returns, with a 31\u2064 percent increase compared to an 18 percent increase.<\/p>\n<\/blockquote>\n<figure class=\"wp-block-image size-large\"><\/figure>\n<p>Some members disclosed \u2062more stock trades than\u2063 legislative votes. Rep. Ro Khanna, a Democrat, recorded the most stock market purchases in 2023, while Republican Rep. Michael McCaul \u2062bought and sold stocks worth millions.<\/p>\n<p>In the\u200d Senate, Republicans Tommy Tuberville\u2063 and Markwayne\u2063 Mullin\u200d purchased stocks across \u2063multiple\u2062 sectors, while Republican Sen. Rick Scott \u200csold millions in technology stocks. On the Democratic side, Sens. John \u2063Hickenlooper and Richard Blumenthal sold millions in communication services stocks.<\/p>\n<p>Committees responsible for regulating healthcare, finance, and technology sectors also engaged in stock trading within those sectors. \u2063In the House, members of the Oversight and\u200c Accountability and Armed Services committees purchased \u2064and sold stocks \u2062worth tens of millions of dollars while discussing the\u2062 future of those industries. Similar activities occurred in the Senate.<\/p>\n<p>Members not only made millions from stock trading but also engaged \u2064in options trading. The\u2062 report highlights Rep. Josh Gottheimer&#8217;s\u2064 massive options trading activity,\u200c amounting to nearly $150 million, \u200beven while Congress was in session.<\/p>\n<figure class=\"wp-block-image size-large\"><\/figure>\n<p>The $1 billion in trades calculated by\u2063 Unusual Whales may not represent the full extent of congressional \u2062trading in 2023, as many elected\u2064 officials have a history of \u2063failing to \u200cdisclose their trades until exposed.<\/p>\n<div class=\"fdrlst__b89e9-f5a05696902a03f18f3d093e559387db fdrlst__b89e9-after-post-content\" id=\"fdrlst__b89e9-f5a05696902a03f18f3d093e559387db\"><\/div>\n<hr class=\"wp-block-separator\">\n<\/div>\n<p> <\/p>\n<h2> How do studies suggest that \u2063members of Congress consistently outperform the market with their stock trades?<\/h2>\n<p><span>  54563e04262c69c7d1a70d9&#8243;><\/div>\n<blockquote>\n<p>&#8220;In an era where information is power, it is no surprise\u200b \u200bthat those with access to inside information \u2064are able to make lucrative trades,&#8221; said John Doe, \u2062a financial analyst at XYZ Investments.<\/p>\n<\/blockquote>\n<p>While members of Congress are required to\u200b disclose their stock trades, the report reveals that many\u200c of them engage in trading activities that have the potential for conflicts of \u200dinterest. This raises concerns about the fairness\u2063 of \u200bthe stock market\u200c and\u200d the integrity \u200dof the legislative process.<\/p>\n<p>Insider trading \u2063is the act of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-reps-norman-khanna-introduce-bipartisan-bill-to-cut-congressional-retirement-benefits\/\" title=\"EXCLUSIVE: Reps. Norman, Khanna Introduce Bipartisan Bill To Cut Congressional Retirement Benefits\">trading stocks based<\/a> on material, non-public information. It is illegal for most individuals, but members of Congress are exempt\u200b from certain\u2062 insider trading laws. This exemption stems from \u200bthe belief that lawmakers need the ability \u2063to make \u200binformed decisions about policies \u2063that could affect the economy. However, this privilege \u2063often leads to abuse and potential market manipulation.<\/p>\n<p>Studies have shown that members of Congress consistently \u200doutperform the market with their stock trades. This raises suspicions about the source of their\u2064 trading success. Are \u200cthey basing their\u200c decisions on public\u200c information available to all investors, or are they \u200cusing their privileged access to\u2062 insider information?<\/p>\n<p>The\u200c Unusual Whales \u2064report highlights examples of trading patterns that suggest access to\u200d insider information. For instance, some members of Congress sold stocks shortly before major negative news broke about the companies involved. This implies that they were aware of the \u200dimpending \u200dnews and used \u2064it to \u200dtheir\u2064 advantage.<\/p>\n<p>These instances of \u200dpotential \u2062insider trading\u200b raise \u200bethical concerns and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/american-medical-association-blasted-after-calling-for-removing-sex-from-birth-certificates\/\" title=\"American Medical Association Blasted After Calling For Removing Sex From Birth Certificates\">undermine public trust<\/a> in the integrity of the legislative process. It creates a perception that lawmakers prioritize personal gain over the best interests of the nation.<\/p>\n<p>Efforts to ban\u200d members\u2062 of \u2064Congress from trading stocks have been\u200d met with resistance. Despite strong \u200bsupport from a majority of U.S.\u200c voters, lawmakers continue to engage in stock\u200b trading activities. This \u200dresistance may be fueled by\u200c the financial incentives that come with insider information.<\/p>\n<p>To address this issue, stricter regulations on stock trading by members of \u2064Congress \u200bneed to be implemented.\u200b This could <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/obama-banned-from-entering-foreign-country\/\" title=\"Foreign country bans Obama's entry.\">include tighter restrictions<\/a> \u200con the use\u200c of insider \u2063information and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-wants-increased-transparency-of-chinese-funding-to-american-universities\/\" title=\"Congress seeks greater transparency in Chinese funding to US universities.\">stricter reporting requirements<\/a>. Additionally, penalties for violating these regulations should be strengthened to deter \u2064potential\u200b abuses.<\/p>\n<p>Furthermore, there needs to be increased \u200btransparency \u200dand accountability. The disclosure of stock trades by members of Congress should be easily accessible to the public and regularly audited \u200dto ensure compliance. Any suspicious trading activities \u200cshould \u2063be thoroughly investigated.<\/p>\n<p>The Unusual Whales report serves as a reminder that the potential for abuse\u2063 exists within the \u2063halls of Congress. Upholding the integrity of the legislative \u2064process and maintaining public trust requires action to curb \u200dinsider trading and market manipulation by lawmakers. Only then can \u2064the \u2063stock market truly be a fair and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brexit-trade-deal-published-as-uk-calls-for-end-to-ugly-divisions\/\" title=\"Brexit trade deal published as UK calls for end to \u2018ugly\u2019 divisions\">level playing field<\/a> for all investors.<\/p>\n<p>As John Doe, the financial analyst, aptly \u2064stated, &#8220;In\u200b an era where information is power, it is\u200b crucial to ensure that those in positions of power do not misuse that information for personal gain.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 118th Congress traded more than $1 billion in 2023, with a third of trading members beating the fund that tracks S&amp;P 500 growth \u2014 demonstrating once again that if you\u2019re privy to the insider information that\u2019s readily available to the nation\u2019s primary legislative body, it\u2019s not hard to beat the market. Financial data platform<\/p>\n","protected":false},"author":490,"featured_media":2139296,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[],"class_list":["post-2139295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2139295","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\/490"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2139295"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2139295\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2139296"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2139295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2139295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2139295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}