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Political and Legislative

Congress Moves to End Crisis Over Insider Trading on Outbreak

Members of Congress are moving with speed and determination to meet an existential crisis on a bipartisan basis. This is not about the coronavirus. The public has learned, once again, that lawmakers may be profiteering in the stock market. Members from both parties have worked for decades to prevent the closing of this obvious avenue of corruption. I know because I have been advocating for two decades that members of Congress should agree to the mandatory use of blind trusts for any stock ownership.

But members of Congress know voters will soon move on, distracted by the outbreak of a deadly disease or redirecting their political rage against the opposing party. The past incubation period for ethics outbreaks is only a couple of weeks and, with some political distancing, the curve is already flattening out. Lawmakers can rest easy because normalcy is simply one news cycle away and, until then, they are tax sheltering in place.

Several members of Congress have been denounced for dumping stocks before the government took critical measures to deal with the pandemic. Senators Richard Burr, Kelly Loeffler, James Inhofe, and Dianne Feinstein together are responsible for as much as $11 million in recent stock sales.

Read the source article at The Hill

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