So many people turn a blind eye to how rich politicians in Washington D.C. become after a few years serving in Congress. One of the ways many get rich is by trading stocks. I do realize some are rich prior to coming into congress but the amount that is accumulated while they serve is disgusting.
The worst are those politicians who buy and sell stocks prior to major announcements from governmental committees or laws being established.
The most recent suspicious move was done by the Pelosi's.
Josh Hawley the GOP senator from Missouri (The Show Me State) announced the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act on Jan. 24, 2023 - after news broke that Pelosi’s venture capitalist husband sold 30,000 shares of Google stock just one month before the tech giant was sued over alleged antitrust violations.
https://www.barchart.com/investing-ideas/politician-insider-trading
Pelosi
also received harsh criticism when her husband sold up to $5 million worth of
shares in Nvidia, a computer chipmaker, just days before Congress approved a
mega stimulus package to boost the semiconductor industry.
It's not a Republican or Democrat issue its moral issue that must be addressed. For example, four US senators, including Republican Richard Burr of North Carolina and Democrat Dianne Feinstein of California, sold hundreds of thousands of stocks in major companies after they were given a secret briefing on coronavirus.
I guess this fact says it all - Congress has outperformed the market and beat the SPY index in 2021 and 2022. Here is a good article explaining the problem and solutions for correcting this problem. https://clsbluesky.law.columbia.edu/2022/03/15/time-for-a-broad-prophylactic-against-congressional-insider-trading/
Updated - February 25, 2023
Stop
getting frustrated with politicians who make millions by investing in
stocks.
https://www.yahoo.com/finance/news/able-same-stop-getting-frustrated-140000978.html
Updated - April 20, 2023 - Here We Go Again
https://www.yahoo.com/news/fears-banking-crisis-surged-members-114128107.html
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