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In 2006, I wrote a piece about then-Congressman Jeb Bradley, who owned about $1 million in oil, gas and electric company stock, took over $45,000 in campaign contributions from energy industry PACs, and consistently voted with energy interests. Today the Washington Post has a front-page story which explores the topic of congressional stock trading more broadly:
In the House, for instance, the proportion of lawmakers with stock investments has risen sharply, from 21 percent in 2001 to 60 percent at the beginning of last year, according to academic researchers and the Center for Responsive Politics. That includes 68 lawmakers who owned more than $100,000 in stock, not including mutual funds, according to records compiled for 2008, the most recent available for electronic analysis.
Long-standing congressional ethics rules allow almost any kind of trading and investment, subject in general to the judgment of individual lawmakers. Those rules also allow spouses to have jobs in areas that touch on a lawmaker’s activity or investments. Moreover, lawmakers are not required to abstain from voting or divest themselves of stock when most potential conflicts arise. Those standards stand in stark contrast to rules that the lawmakers have mandated for others in government and the private sector.
The Post took a close look at the stock trades of Congressman Jim Moran, noting, “The holdings disclosed by Moran in 2008 included stock in General Dynamics and BAE Systems, which both received earmarks requested by Moran that year, according to financial and earmark disclosure records. The earmarks were for $1.6 million each.”
More from Ken Silverstein:
Commentary — November 17, 2015, 6:41 pm
The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.
In Havana, the past year has been marked by a parade of bold-faced names from the north — John Kerry reopening the United States Embassy; Andrew Cuomo bringing a delegation of American business leaders; celebrities ranging from Joe Torre, traveling on behalf of Major League Baseball to oversee an exhibition game between the Tampa Bay Rays and the Cuban national team, to Jimmy Buffett, said to be considering opening one of his Margaritaville restaurants there. All this culminated with a three-day trip in March by Barack Obama, the first American president to visit Cuba since Calvin Coolidge in 1928. But to those who know the city well, perhaps nothing said as much about the transformation of political relations between the United States and Cuba that began in December 2014 as a concert in the Tribuna Antiimperialista.
Percentage of registered Democrats who say that fishing is their favorite spectator sport:
Democrats would win more elections if black Americans died at the same rate as white Americans.
A former U.S. intelligence official said pornography constituted 80 percent of the material on jihadists’ seized laptops, and Starbucks and McDonald’s made porn inaccessible from their Wi-Fi networks.
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“Matt was happy enough to sustain himself on the detritus of a world he saw as careening toward self-destruction, and equally happy to scam a government he despised. 'I’m glad everyone’s so wasteful,' he told me. 'It supports my lifestyle.'”