While Congress drags its feet on self-regulating stock trades from its members, those very members are busy making money in the equity markets.
Some Twitter accounts track the buying and selling of assets by the 535 members of Congress who, due to their positions in government, may have an outsized influence on the direction of some stocks.
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Rep. Dan Goldman (D-NY) was by far the most active trader, according to Unusual Whales, filing over $9.6 million worth of trades in just a week.
Goldman purchased $100,000 worth of Accenture Federal Services (ACN) – Get Free Report last week. Accenture was just awarded a seven-year, $2.6 billion blanket purchase agreement from the Internal Revenue Service this week.
Goldman sits on the House Committee on Homeland Security as well as the House Committee on Oversight and Accountability. The Levi Strauss heir has an estimated net worth above $250 million.
He also purchased $100,000 worth of Bristol Myers Squibb (BMY) – Get Free Report, Dollar General (DG) – Get Free Report and Crown Castle (CCI) – Get Free Report. He sold $100,000 worth of CVS Health.
Rep. Kathy Manning (D-NC) is the Vice Ranking Member on the Foreign Affairs Committee and serves on the Education and Workforce Committee.
Here’s how she traded last week.
Earlier this year, Sen. Josh Hawley (R-MO) introduced legislation that would ban stock trading and ownership by members of Congress.
He even gave the legislation a snarky name as a nod to one Congressional member who may have benefitted the most from the stock market during her time in office — Rep. Nancy Pelosi (D-CA).