A bipartisan group of House members, including progressives and conservatives, employed a discharge petition to force a vote on a bill banning congressional stock trading, a move similar to one used to release the Jeffrey Epstein files. The legislation gained urgency due to concerns about insider trading by lawmakers, with previous attempts to address the issue, such as a bill from Rep. Chip Roy and Abigail Spanberger, stalled under former Speaker Nancy Pelosi. The current Speaker, Mike Johnson, has faced criticism for restricting votes and aligning with Donald Trump, prompting more frequent use of discharge petitions by frustrated members. While the House vote is now secured, the bill’s passage through the Senate, particularly given former President Trump’s opposition, remains uncertain.
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Nearly 100 former lawmakers call on House to ban stock trading by members of Congress, and it’s certainly a topic that’s sparking a lot of discussion. The very fact that this many former members are speaking out says something, doesn’t it? It feels like a late realization, a collective “hindsight is 20/20” moment. It’s a bit of a cliché, the “I got mine, now pull up the ladder” mentality, but there’s a definite whiff of that in the air. These are people who, by virtue of having been “former,” are no longer directly benefiting from the system they’re criticizing. It’s easy to advocate for change when you’re not personally affected by it anymore.… Continue reading
Stock trading by members of Congress could be banned in a bipartisan push, and honestly, it’s about time. It’s the kind of move that seems like it should have been in place from the get-go. The idea is simple: prevent members of Congress, their spouses, dependent children, and any trusts they control from buying, selling, or owning stocks, commodities, or other financial instruments. New lawmakers would have a 90-day window to comply, while those already in office get 180 days to divest. It sounds straightforward, but as with anything involving legislation, the devil is in the details, like how to handle diversified funds, and the potential for loopholes.… Continue reading
US charges ex-investment banker, 7 others in global insider trading scheme. The news broke about a global insider trading ring, and honestly, the sheer scale of it is pretty mind-boggling. We’re talking about a scheme that allegedly raked in tens of millions of dollars over several years, stretching from 2016 all the way to 2024. The whole thing was supposedly orchestrated by a former Merrill Lynch banker, a French restaurant co-owner, and a citizen from Singapore. That’s a pretty diverse group, all working together to exploit inside information.
It seems like the central figure, at least according to the charges, was Samy Khouadja, the ex-banker.… Continue reading
Former Tottenham Hotspur FC owner, Joe Lewis, has been pardoned by Donald Trump for his involvement in an insider trading scheme. Lewis, who was convicted in 2024, was initially fined and placed on probation after pleading guilty to a plan that enriched his associates through stock trading. The pardon was requested by Lewis to facilitate medical treatment and family visits. The insider trading scheme involved Lewis passing on privileged information to employees, including his pilot and girlfriend.
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Congressman Ro Khanna of Silicon Valley plans to introduce a bill that would prohibit elected officials from trading stocks and cryptocurrencies. This proposed legislation comes in response to growing concerns over potential conflicts of interest and public distrust of politicians’ financial activities. Khanna is seeking bipartisan support for the bill, acknowledging that this issue has generated controversy across the political spectrum. More details on the situation can be found in the NBC Bay Area video report.
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Markets just got blindsided — Trump drops 100% China tariffs, and traders are bracing for chaos.
Okay, so here’s the deal: the market just got hit with a curveball, and it seems like everyone is scrambling to figure out what it means. The news is that Trump has “dropped” 100% tariffs on China. The word “dropped” is key here because it can mean a couple of things, and right now, it’s causing a lot of confusion and speculation. Is he ending the tariffs, or are they being *introduced*? The ambiguity is definitely a source of anxiety.
The prevailing sentiment seems to be that traders are not exactly thrilled.… Continue reading
Responding to inquiries about her wealth and stock trades, Rep. Marjorie Taylor Greene launched a defensive response, refuting accusations that her net worth has significantly increased since entering Congress. The Georgia Republican, who has made numerous stock trades, including some that coincided with market fluctuations, has come under scrutiny for her financial activities. Despite the controversy, Greene maintains that her wealth predates her time in Congress and is managed by a financial manager, while also alleging that the criticism is politically motivated. The situation has spurred discussions about potential restrictions on stock trading by members of Congress, with calls for greater transparency and accountability.
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Former President Donald Trump has publicly attacked Nancy Pelosi, accusing her husband of using insider information for stock market gains. These accusations arrive amidst growing support for a congressional stock trading ban, with Trump claiming the legislation targets him politically. The proposed bill, the Honest Act, aims to eliminate conflicts of interest and restore public trust, a goal that Pelosi supports. Trump’s criticism highlights the ongoing debate surrounding the financial activities of elected officials and their families, particularly concerning the appearance of unethical behavior in a period of increasingly scrutinized stock trades.
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Representative Marjorie Taylor Greene’s investment in Palantir Technologies surged 142% since April, shortly before ICE awarded the company a $30 million contract. Greene, a member of the House Homeland Security Committee, clarified that her financial advisor controls her investments. This occurred around the same time that White House Deputy Chief of Staff Dan Scavino sold Trump Media stock the day before tariffs were announced, causing markets to plummet. These events have led to increasing public support for banning stock trading by members of Congress.
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John Q. Hosedrinker 
Matt Underwood