Hi,
We just got a reminder this week that Congress has a corruption problem.
One reason: they still get to own, buy, and sell stock even when they're
making laws and rules that impact those stocks.
Senator Richard Burr is under FBI investigation for stock trades he made
right after he got a classified briefing on the coronavirus, and was
forced to step down as chair of the Senate Intelligence Committee.^1
Another Senator, Kelly Loeffler, is reported to have made similar
trades.^2 There are rules preventing members of Congress from insider
trading. But Senators may have done it anyway. It's clear we need to do
more to stop Congress from abusing their power and privilege.
We need to clean up Congress and make sure they're legislating in the
public interest, not for their own private profit. Will you help send a
message and fight back against unethical behavior?
[ [link removed] ]Sign the petition: Tell Congress to ban Representatives and Senators
from trading stocks while in office!
When Jimmy Carter became president, he placed all his investments -- even
his own peanut farm -- into a blind trust so that there wasn't even the
slimmest chance his decisions could affect his personal income.
But today that's not how most members of Congress operate. Senator Burr
made 33 transactions in a single day just before the stock market crashed
in February. He had just received a private briefing from federal
officials warning of the devastating impact the coronavirus would have on
the United States.^3
Meanwhile, Senator Kelly Loeffler sold $20 million in stock in three
separate deals in late February and early March after receiving the same
closed door briefing -- and even invested money in a company that makes
protective gear for health care workers. Her husband runs the company that
owns the New York Stock Exchange, which gave her a huge payday when she
entered the Senate.^2
Congressional ownership of stock threatens to derail effective oversight
of the massive federal bailout program. Representative Donna Shalala, who
was appointed to the bailout oversight commission, was revealed to have
made more than 500 stock trades after taking office and didn't follow the
rules in reporting it.^4 There's no way she can fairly and effectively
oversee the bailout when she engages in this behavior.
This is all part of the vast culture of corruption that engulfs our
federal government, and it has to stop. Congress will act if they feel
sufficient public pressure. That's where you come in. Will you help?
[ [link removed] ]Add your name and tell Congress: ban Representatives and Senators from
trading stocks while in office!
Thanks for taking action,
Robert and the team at Demand Progress
[ [link removed] ]DONATE
Sources:
1. The Guardian, "Richard Burr steps down as Senate committee chair over
FBI investigation," [ [link removed] ]May 14, 2020.
2. AJC, "Kelly Loeffler faces new controversy about her pre-Senate
payout," [ [link removed] ]May 6, 2020.
3. New York Times, "Stock Sales by Senator Richard Burr Ignite Political
Uproar," [ [link removed] ]March 20, 2020.
4. Politico, "Fault lines emerge in oversight body as Toomey, former
Warren aide split," [ [link removed] ]April 28, 2020[ [link removed] ].
----------
PAID FOR BY DEMAND PROGRESS (<a href="[link removed]">DemandProgress.org</a>) and not authorized by any candidate or candidate's committee. Contributions are not deductible as charitable contributions for federal income tax purposes. Join our online community on <b><a href="[link removed]">Facebook</a></b> or <b><a href="[link removed]">Twitter</a>.</b>
You can unsubscribe from this list at any time: [link removed]
