Jon Ossoff To Introduce Bill That Will Bar Members Of Congress From Owning individual stocks

  • Freshman Senator from Georgia Jon Ossoff is expected to introduce an ethics bill that would bar members of Congress from holding or trading individual stocks while in office once he has a Republican cosponsor.
  • When Pelosi was asked about Insider‘s investigation revealing that 52 congressional lawmakers and 182 senior congressional staffers had infringed on the STOCK Act, a law intended to ban insider trading — she conveniently stated that she was not familiar with the report.
  • Speaker Pelosi, one of the wealthiest members of Congress with an estimated net worth of $46 million, defends the practice of trading stocks by public servants, saying: “We are a free-market economy.”

John L. Dorman from Insider writes:

“Sen. Jon Ossoff of Georgia is set to introduce legislation that would bar members of Congress from holding or trading individual stocks while they’re in elective office, according to The New York Post.

The ethics bill — which the 34-year-old freshman Democratic senator reportedly hopes to file once he has a Republican cosponsor — would tackle legislative conflicts of interest by banning members and their families from trading stocks, according to a source in Washington DC with knowledge of the matter.

In addition, the legislation would likely mandate that lawmakers place their financial assets in blind trusts — an action that Ossoff took himself after being elected to the Senate in a January 2021 runoff election.

The proposed bill would present a huge contrast to House Speaker Nancy Pelosi, who last month publicly defended the practice after Insider’s Bryan Metzger asked if she would support a stock-trading ban for members at a press conference…”

See full story here.

Categories: Business, Economy, Government, Politics

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

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