Hi,

Republican Rep. John W. Rose sold between $100,000 and $250,000 of Wells
Fargo stock in 2019, a few months before the House Financial Services
committee – a committee he sits on – issued a damning report on the
company that coincided with a steep decline in the bank’s stock price.^1

Some Congress members are using their positions of power to trade stocks,
game the system, and profit off from their elected offices. Yet, Congress
continues to stall legislation banning stock trading by U.S.
Representatives and Senators.

[ [link removed] ]Tell Congress: Pass a ban on Congressional stock trading with NO
loopholes!

ADD YOUR NAME

Here’s what we currently know about how bad it is:

There have been countless scandals, including lawmakers trading stocks
with non-public COVID information to get rich off the pandemic.^2 And the
New York Times reported a month ago that at least 97 members of Congress
have traded stocks in the last 3 years that have direct ties to the
Congress member’s legislative work.^3 It’s corruption plain and simple,
it’s bad for the American people, and it needs to stop.

44 of the most active stock traders in Congress bought and sold stocks in
companies related to the committees they sit on.^4 Several members traded
pharmaceutical stocks while their committee conducted a congressional
investigation of Big Pharma.^5

The list of stock trades and conflicts of interest is enormous. And so is
the potential for Congressional stock trading to lead to
corporate-friendly policies that enrich America’s largest corporations and
richest CEOs, while leaving the people behind.

A federal representative overseeing the energy sector should not have
incentives to pass policies that help big fossil fuel companies, nor
should a member of Congress on the Armed Services committee see dollar
signs if they pass policies that enrich weapons manufacturers. We need to
get stock trading out of Congress to stop these pro-corporate policy
incentives.

Senator Elizabeth Warren and Representative Pramila Jayapal have
introduced a strong bipartisan bill to ban stock trading in Congress with
no loopholes.^6 But Congressional leadership is trying to block action on
this important issue.

[ [link removed] ]Join us and urge Congress to ban stock trading in the U.S. House and
Senate immediately. Congress must pass the Bipartisan Ban on Congressional
Stock Ownership Act.

Thanks for taking action,

Tihi and the team at Demand Progress

[ [link removed] ]DONATE

Sources: 

 1. The New York Times, “Stock Trades Reported by Nearly a Fifth of
Congress Show Possible Conflicts,” [ [link removed] ]September 13, 2022.
 2. Politico, “Lawmakers made hundreds of stock transactions during
pandemic, watchdog finds,” [ [link removed] ]April 29, 2020.
 3. The New York Times, “Stock Trades Reported by Nearly a Fifth of
Congress Show Possible Conflicts,” [ [link removed] ]September 13, 2022.
 4. Ibid.
 5. Ibid.
 6. Office of Rep. Pramila Jayapal, “Jayapal, Rosendale, Warren, Daines
Introduce New Bipartisan Bill To Ban Members of Congress from Owning
and Trading Stocks,” [ [link removed] ]February 9, 2022.
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