NYT: Nearly 100 Members Of Congress Report Stock Trades With Possible Conflicts

The New York Times conducted an analysis that showed nearly one in five members of Congress reported stock trades for themselves or their immediate families that possibly conflicted with committee assignments.

The study revealed 97 senators or representatives turned in these deals that involved firms in sectors that could raise a conflict of interest.

The Times found that between 2019 and 2021, over 3,700 reported stock trades had a potential conflict of interest. The paper noted that, under the STOCK Act, Congress and their families may trade equities if they do not utilize inside information.

They must also disclose any transactions of $1,000 or more by themselves or immediate family members within 45 days.

Alarmingly, the Times found 13 instances where lawmakers or their immediate families bought or sold stocks in companies that were actively being investigated by their congressional committees during the period surveyed.

One significant proposal to deal with the issue, as the Times reported, came from Rep. Chip Roy (R-TX). It would require lawmakers’ assets to be placed in a blind trust while they served in Congress.

The controversial stock dealings of Democratic House Speaker Nancy Pelosi or her husband were not investigated since the California representative does not sit on committees.

In a surprising exchange coming from the left, MSNBC anchor Stephanie Rhule laid into Pelosi over stalling with a proposed bill to bar members of Congress from stock trading while on the public dole.

On the network’s “The 11th Hour” on Monday night, Rhule noted that Pelosi has had “months and months and months” to get the legislation to the floor but has not done so. There are just over two weeks before Congress goes into recess, and Rhule said Democrats cannot blame the GOP on this one.

There is no reason for members of Congress or their immediate families to trade stocks in sectors of the economy that are affected by committees upon which they sit. This is nonpartisan common sense, and it is beyond time for legislators to fix this error in policy.