…and this will have ZERO effect on insider trading by the likes of Pelosi.
However, insider trading will get slightly more difficult.
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– Senators Strike Deal To Ban Stock Trading By Members Of Congress:
A bipartisan group of senators including Josh Hawley (R-MO) on Wednesday came to an agreement on a renewed effort to ban members of Congress from trading stock.
…
Penalties for violating the ban would be the greater amount of either their monthly salary, or 10% of the value of each covered asset in violation.
In 2021, Ossoff introduced a ban and put his own stock portfolio in a blind trust to lead as an example. The effort gained traction following revelations that several senators made very profitable trades in as the Covid-19 pandemic unfolded, when members of Congress were receiving classified briefings warning of how disastrous the virus could be for the US economy.
Several insider trading investigations were launched by the FBI – but, surprise! no criminal charges resulted.
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