Technically, yes, per the STOCK Act. But there’s a loophole for Congress.
It doesn’t count as “insider trading” for them if the information they use is based on bills they are passing as a part of their job.
Democrats have repeatedly tried to pass a law to ban this loophole as well, such as Adam Schiff from January of this year, but Republicans always vote such bills down or have them die in committee.
That sounds like we should follow Congress’ stock trades for our own benefit. I bet there’s a tracker out there since all that is supposed to be public information.
Isn’t insider trading literally illegal tho?
Technically, yes, per the STOCK Act. But there’s a loophole for Congress.
It doesn’t count as “insider trading” for them if the information they use is based on bills they are passing as a part of their job.
Democrats have repeatedly tried to pass a law to ban this loophole as well, such as Adam Schiff from January of this year, but Republicans always vote such bills down or have them die in committee.
That sounds like we should follow Congress’ stock trades for our own benefit. I bet there’s a tracker out there since all that is supposed to be public information.
There is but the data is delayed by (I think) 30-ish days.
To be clear, the TRUST Act was bipartisan. Sizeable majority Democrat, for sure, but it’s not like it was all Ds for, all Rs against or anything.
Not if you’re a member of Congress.
Not for congresspeople. Just normal citizens.