Report: Thousands of Federal Officials Have Owned Stock in Companies They Govern

Thousands of federal officials in the executive branch over the last two presidential administrations have disclosed trading stocks in companies that their agencies oversee, representing thousands of potential conflicts of interest, a new investigation finds. The Wall Street Journal analyzed over 31,000 financial disclosure forms dated between 2016 and 2021, which included information on over 315,000 trades in stocks, bonds and funds by officials and their immediate families. These documents showed that over 2,600 senior officials across 50 federal agencies have disclosed owning stock in companies that have lobbied the agency that they work in. This represents more than one…

Democratic Leaders Will Likely Delay Vote on Stock Ban Until After the Election

A vote on the long-awaited — and some say direly needed — bill to ban members of Congress from being able to trade individual stocks will likely be delayed until at least after the midterm election in November, sources within House Democratic leadership say, drawing frustration from advocates who have been pushing for the bill to come to a vote for months. According to Punchbowl News, some sources say that there is “very little chance” that the bill, kept secret by Democratic leadership for months and released this week, will come to a vote before the election. House Majority Leader…

Pelosi’s Husband Dumped Up to $5M of Tech Stock Right Before Senate Passed CHIPS

Just before the Senate passed a major bill to subsidize computer chip manufacturers on Wednesday, House Speaker Nancy Pelosi’s (D-California) husband sold thousands of shares of Nvidia — a tech company that could stand to gain from the passage of the nearly $80 billion bill. Paul Pelosi — an extremely active stock trader who’s gained a following for his often-winning stock transactions — bought between $1 million and $5 million in Nvidia in June, as the Senate debated the bill. Then, on Tuesday, the same day that the “CHIPS-plus” bill cleared a key procedural vote, Paul Pelosi sold 25,000 shares…

Pelosi Changes Course, Says She’s Open to Stock Trading Ban for Congress Members

As Democrats discuss implementing a ban on stock trading for members of Congress, House Speaker Nancy Pelosi (D-California) signaled on Thursday that she may be open to passing such a ban, despite her opposition to the proposal. Pelosi reiterated her opposition at a press conference on Thursday, but said that she would support the Democratic caucus if they wanted to pass such legislation. “I just don’t buy into it, but if members want to do that I’m OK with that,” she said. Pelosi added that she has asked the House Administration Committee to review the STOCK Act. Although the bill…

Elizabeth Warren Demands Information on Fed Official’s Questionable Stock Trades

Sen. Elizabeth Warren (D-Massachusetts) recently sent a letter to Jerome Powell demanding more information on stock trades by Federal Reserve Vice Chair Richard Clarida after a New York Times report revealed that Clarida failed to disclose the extent of his trades just before the stock market crashed in 2020. Last year, Clarida reported moving between $1 million and $5 million into an investment fund, buying shares on February 27th, 2020 – the day before Chair Powell made a major announcement about rule changes at the Fed in preparation for the pandemic. However, Clarida recently amended that financial disclosure to reflect…

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