Key Findings from the Investigation into the Finances of Federal Lawmakers

Photo of the US Capitol / Photo by the US Capitol via Flickr

The Big Picture 

A wallet with several $50 bills inside / Photo by Chris O’Neil

The report from Insider found that 52 members of Congress and 182 Senior-level Congressional staffers had violated federal conflicts-of-interest laws. A majority of members of Congress, Democrat and Republican, trade stocks although it should be said that most do report their trades in a timely manner consistent with the law. 

As for specific industry related stocks: 

  • Roughly 75 lawmakers held stocks in major pharmaceutical companies such as Moderna, Johnson & Johnson, and Pfizer. These lawmakers had traded these stocks throughout the pandemic, especially in the early weeks of the pandemic. 

 

  • 15 lawmakers directly responsible for shaping U.S. foreign policy and general defense policy had been actively investing in major military contracting firms. 

 

  • More than a dozen Democrats who tend to vote for so-called “Green” legislation were found to have invested in fossil fuel companies or other companies that have had a negative impact on the environment. 

 

  • Several members of Congress who have been outspoken about the media and Big Tech were found to have traded the stock of companies like Facebook, Twitter, Comcast, Disney, and The New York Times. 

 

  • Multiple lawmakers and their staffers were found to have invested into Cryptocurrency such as Bitcoin and Ethereum. These same lawmakers may soon have the ability to regulate these Cryptocurrencies. 


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