Since the first day of this year, 26 members of Congress have violated a federal insider trading and conflicts-of-interest law, a Raw Story analysis of congressional financial disclosures reveals.
Most violations involve failures to properly disclose stock trades as required by the Stop Trading on Congressional Knowledge (STOCK) Act of 2012.
The most significant violator was Rep. Rick Allen (R-GA), who clocked in as much as 6.5 years late when reporting up to $8.5M in stock transactions.
There were numerous other Republicans and Democrats who have consistently failed to abide by the STOCK Act.
[Three regional members of Congress identified in the report are Sen. Tommy Tuberville (R-Ala.); Rep. Maria Elvira Salazar (D-Fla.) and Rep. Debbie Wasserman Schultz (D-Fla.)].
The Obama-era law intends to stop insider trading, curb conflicts-of-interest and enhance transparency by requiring key government officials to publicly report within 45 days most purchases, sales and exchanges of stocks, bonds, commodity futures, securities and cryptocurrencies.
In a recent interview with Raw Story, one of the STOCK Act’s original authors, former Rep. Brian Baird (D-Wash.), blasted Congress for its continued excuses for failing to abide by the law. “I mean, come on. ‘The dog ate my homework,’ aren’t we a little more grown up than that?” Baird said.
(Read individual storylines at Raw Story 11/08/23) Lawmakers, law breakers: 26 members of Congress have violated a conflicts-of-interest law (msn.com)
[According to Media Bias / Fact Check, Raw Story is a website that evaluates the credibility of news sources with a “left” bias in terms of political affiliation and a “mixed” rating in terms of factual reporting.]
No comments:
Post a Comment