CAL THOMAS COMMENTARY SEPTEMBER 30, 2022
A BILL IN CONGRESS THAT WOULD PROHIBITIT HOUSE AND SENATE MEMBERS, THEIR SENIOR STAFF AND FAMILY MEMBERS FROM PLAYING IN THE STOCK MARKET IS BEING CONSIDERED BY THE HOUSE.
IT ‘S CALLED THE “COMBATTING CONFLICTS OF INTEREST ACT.”
THE ORGANIZATION PUBLIC CITIZEN IS URGING ITS PASSAGE IN THE HOUSE. CRAIG HOLMAN, GOVERNMENT AFFAIRS LOBBYIST FOR PUBLIC CITIZEN, SAYS: “MEMBERS OF CONGRESS HAVE ROUTINE ACCESS TO CONFIDENTIAL INFORMATION OF PUBLIC POLICIES THAT DIRECTLY AND SUBSTANTIALLY AFFECT THE ECONOMY – AND THE STOCK MARKET. YET THESE SAME LAWMAKERS BUY AND SELL STOCKS AT WHIM, OFTEN AFTER CONFIDENTIAL BRIEFINGS ON THE LIKELY SPIKES AND DOWNTURNS OF THE ECONOMY FROM INFORMATION UNAVAILABLE TO THE PUBLIC.”
WE’VE SEEN QUESTIONABLE STOCK SALES BY NANCY PELOSI’S HUSBAND BEFORE THE STOCK WENT SOUTH. OTHERS HAVE BENEFITTED FROM INSIDE INFORMATION. INSIDE TRADING IS A CRIME FOR THE REST OF US, BUT IF MEMBERS OF CONGRESS DO IT, THEY ESCAPE PENALTIES. IT MAY BE ONE REASON MANY MEMBERS OF CONGRESS ENTER WITH LITTLE AND LEAVE AS MULTI MILLIONAIRES. CONGRESS SHOULD PASS THE “COMBATTING CONFLICTS OF INTEREST ACT.” I’M CAL THOMAS.
