From Irene Lin <[email protected]>
Subject It’s time to ban insider trading in Congress
Date February 18, 2022 8:09 PM
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‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ # [#]John, in case you missed it, Tom recently published an op-ed in The Cap Times calling for Congress to ban insider trading. With members of Congress hearing classified information regarding our economy, there’s a clear conflict of interest that gives them an unfair advantage in making investments. [link removed] [[link removed]] We saw how ugly it can get when just before the height of the pandemic, members of Congress made suspiciously-timed stock trades right before the stock market fell. Now, with a ban being proposed, Ron Johnson exposed his motives by saying people won’t want to run for public office if they can’t make millions off the stock market.

Unlike Ron, Tom isn’t running to make millions – he’s running to be a bold, progressive advocate for working families. However, because he relies so heavily on community support, he needs your help to defeat the rest.

Donate today to support Tom in his campaign to defeat Ron Johnson and end this form of corruption that’s a slap in the face to working families >> [[link removed]]If you've stored your payment information with ActBlue Express, your donation will process now.

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Continue scrolling to read Tom’s full op-ed featured in The Cap Times.

Thanks,

Irene Lin
Campaign Manager



Opinion | Time to ban insider trading in Congress
By Tom Nelson

Last January, Georgia voters were hammered with TV ads highlighting their incumbent senators' use of insider information to make millions in suspiciously timed stock trades. The argument that Georgians simply couldn’t trust David Perdue and Kelly Loeffler when they were knee-deep in the swamp and profiting at taxpayer expense helped produce stunning upsets, giving us a fragile Democratic majority.

As Democrats face a tough midterm election, and trust in Congress is at all-time lows, I know most Wisconsinites like myself believe this should be an easy call. Seventy-six percent of voters endorse a ban on insider trading by lawmakers, with more Republicans and Independents approving than even Democrats. Bipartisan support from folks like Rep. Kevin McCarthy, R-California, and Sen. Josh Hawley, R-Missouri, exists for Georgia Democratic Sen. Jon Ossoff’s legislation to wipe out this corrupt practice. Why won’t Democratic leaders put his bill to a floor vote and show voters we take corruption and all appearances of it seriously?

Unlike some of our current sitting senators, I’m not running for the U.S. Senate because I want to play Gordon Gekko, especially when the job is to serve the public interest. Ideally, sitting congressional members shouldn’t be worried about the bottom lines of their stock portfolio. They should put their holdings into mutual funds and CDs like the rest of us, instead of enriching themselves through positions of power.

But as Business Insider recently confirmed, this isn’t the case. In 2021 alone, 54 members of Congress violated current laws designed to prevent conflict of interests when trading stock. This is unfathomable and should not be accepted by the everyday Americans who are struggling to pay their rent or daily necessities.

Let me put this into other terms.

As we Wisconsinites all know, the Green Bay Packers are the only team in America not owned by billionaires or corporate interests, but by the people. Packers stock is the only stock owned by many Wisconsin families. And Packers stock can’t be traded. I believe this same principle should apply to our members of Congress. As representatives elected by the people, members should not be allowed to make millions — as so many did during the COVID-19 crisis — just like anyone with hypothetical knowledge of a game shouldn’t be allowed to profit. Even if I had known the Packers were going to blow the game against the 49ers, I shouldn’t be allowed to profit off that intel.

I am calling on President Joe Biden to show the same moral compass he exercised on voting rights and refrain from punting on this issue. I am equally calling on Speaker Nancy Pelosi to recognize the fallacies of saying members should be allowed to trade because, “We’re a free market economy.” Members are privy to information that the average Joe does not have, and insisting otherwise only builds on the public belief that we have a rigged economy which benefits only the elites.

Two-thirds of U.S. senators are millionaires (if elected I’d be part of the lonely one-third). We need to push for accountability and to do better.

And finally, I’m calling on Senate Majority Leader Chuck Schumer to allow the Ossoff legislation to come for a vote to support the end of a form of corruption that has been a slap in the face to working families. If we begin leading on issues like this, we’ll be able to weather the midterm storm and reclaim our rightful mantle as the party of the people.

– Tom Nelson
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Tom Nelson serves as County Executive for Outagamie, one of the worst-hit COVID areas in the nation. Local officials have been leading our country through the pandemic because Donald Trump and Ron Johnson have failed. Tom is running for U.S. Senate because we need real leaders in Washington who will take COVID seriously. And if we can take on a pandemic, we can take on anything. And if you can win in a red county six times, you can win anywhere. If you’d like to unsubscribe, click here. [[link removed]]
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