Workflow
Congressional trading
icon
Search documents
Congressional trading hit a fever pitch during the tariff turmoil, says WSJ's Gunjan's Banerji
CNBC Televisionยท 2025-07-31 19:41
Proposed Legislation & Political Landscape - The "Pelosi Act," aimed at restricting lawmakers' stock trading, faces politicization due to Nancy Pelosi's and her husband's trading success [1] - Similar efforts to regulate lawmaker trading have failed to pass in the past, facing opposition in Congress [2] - Republican opposition exists, exemplified by President Trump's criticism of a bill supporter [3] - The issue of lawmaker trading affects members of both Democratic and Republican parties [3][4] Lawmaker Trading Activity & Scope - Analysis of House disclosures revealed a surge in trading activity, particularly during periods of tariff turmoil [4][6][11] - A small number of lawmakers engaged in a high volume of trading, involving millions of dollars [4][5] - Lawmakers' trading activity spans various assets, including stocks, options, cruise lines, airlines, and technology stocks [6] - Over 700 trades were placed by a handful of lawmakers during the tariff turmoil [6] Ethical Concerns & Potential Conflicts of Interest - Concerns arise when lawmakers trade based on policy-sensitive information, such as pending legislation or government actions [9][10][11] - The House Ethics Committee raised concerns about a House Lawmaker whose wife bought shares of a steel operator the day after he learned certain steel plants would remain open, spurring concerns about insider trading [8] - Public perception is negatively affected when lawmakers appear to profit from information not available to the general public [10]