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House lawmakers call on Pelosi, McCarthy to pass stock trade ban

Added 01-24-22 06:18:02pm EST - “More than two dozen members of the House of Representatives have called on leadership to bring a bill aimed at banning members from trading and owning individual stocks to the floor.” - Nypost.com

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Posted By TheNewsCommenter: From Nypost.com: “House lawmakers call on Pelosi, McCarthy to pass stock trade ban”. Below is an excerpt from the article.

More than two dozen members of the House of Representatives have called on leadership to bring a bill aimed at banning members from trading and owning individual stocks to the floor.

Led by Rep. Jared Golden (D-Maine), the 27 lawmakers insisted in a Monday letter to Speaker Nancy Pelosi (D-Calif.) and House Minority Leader Kevin McCarthy (R-Calif.) that action was necessary to restore the public’s trust in Congress amid allegations that members have misused their positions for personal gain.

“[C]ommon-sense, bipartisan legislation is unfortunately necessary in light of recent misconduct, and is supported by Americans across the political spectrum,” the letter read. “Both of you have recently addressed this issue in public comments, but this glaring problem will not go away until it is fixed and Congress should not delay when we have the power to fix it.”

The letter cited a 2020 investigation by the Justice Department into stock trades made by several senators in the early days of the COVID-19 pandemic. One lawmaker, Sen. Richard Burr (R-NC), stepped down as chairman of the Senate Intelligence Committee amid the furor, though the Justice Department opted not to pursue charges.

Sens. James Inhofe (R-Okla.) and Dianne Feinstein (D-Calif.) were also among those whose transactions were scrutinized, though the DOJ again declined to take further action.

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