Here’s the situation:
Members of Congress have access to sensitive and privileged information as part of their jobs to be able to anticipate and legislate for what’s to come.
But right now, Members of Congress are able to use this sensitive information to make huge profits from buying and trading individual stocks that they know will perform well.
It’s how we end up with situations like this:
Alexandria has repeatedly said that Congress members should not have the ability to access privileged information and be able to hold and trade individual stock. It's why she’s worked with her colleagues to ban members of Congress from trading individual stock for YEARS.
There have been lots of stories and scandals about stock trading, but now – thanks to increased public pressure and attention – we may have a shot to pass this ban once and for all.
To be clear, it’s one thing to have a blind trust or invest in a mutual fund or index fund. These are vehicles of investment that are broad and that individuals in Congress don’t have control over.
But the fact is that a majority of Congress members hold and trade individual stocks. Last year, there were at least 75 members of Congress who held individual stock in Johnson & Johnson, Moderna, and Pfizer.1 That’s where we should be drawing the line.
In solidarity,
Team AOC
1 - Business Insider
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