List Of Politicians Violating The STOCK Act Continues To Grow

More than 50 members of Congress in the last 18 months have been caught violating the STOCK Act – with three violators caught in just the last week. For years we’ve seen members of Congress violate the law, but not a single one of them has ever faced any real consequences. Mike Papantonio & Farron Cousins discuss more.

Link - https://www.rawstory.com/raw-investigates/congress-stock-trading-ban-2668931652/

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

More than 50 members of Congress in the last 18 months have been caught violating the STOCK Act with three violators caught in just the last week. For years, we've seen members of Congress violate the law, but not a single one of them has suffered any consequences. Again, I start this by, if you and I went out and did what these congressmen and Congress ladies did, we would be in prison because we would be engaging in insider trading. We've gone to a meeting, at the meeting, we learn that Boeing is going to sell a bunch of more weapons overseas. So what do we do? We go and we invest into Boeing, right? They do this kind of thing every day in the healthcare system, in the energy sector, in the weapons industry, in the pharmaceutical industry. These little cretins go to meetings where they're on committees, right? And they take that information and they call their broker, hey, you know what I just found out? Boom. They buy the stock.
Exactly. And it's the worst with the budget when they're sitting there working on the upcoming budget for the next year, and they know, okay, listen, we're increasing the Pentagon's budget by a hundred billion dollars next year. We know we've got all this global turmoil. Weapons, weapons, weapons. I want all my stocks, everything moved over to this area here. We're about to give them tons of money. I'm gonna make a fortune off this. And unfortunately, folks, I don't know if you have a favorite lawmaker, but I could promise you there are most likely on these lists. It is not a Republican thing or a Democrat thing. It's not a left versus right. This is bipartisanship in violating the STOCK Act, which is a federal law. Let's be clear. It's federal law.
There's no way to defend this.
Right.
But people are gonna defend it because they're a Democrat or, oh gee, they're Republicans. So what they did, yeah, they broke the law. But that's okay. That's how crazy our thinking is now. These, in any other world, these people would be in criminal trials being perp walked. So you have them where they're supposed to report, for example. Let's at least say, okay, they don't have to do anything else except say, yeah, I walked out of that hearing and I went and I sold Boeing short. Okay. I did that because of the information I had. Okay. You can do that as long as you say, hey, I just did something that would end up throwing a typical citizen in prison, but I've disclosed it, so you can't do anything to me. Right? And they don't even comply with that, do they?
Right. That is about the only part of the law. They're kind of allowed to do this insider trading, I mean, they are allowed to do this insider trading.
Oh, it's encouraged.
But all you gotta do is just tell us that you're doing the insider trading and they can't even do that. And obviously that's gonna hurt you in a campaign. But again, like you mentioned, 50 lawmakers in the current session of Congress here, and it's people all the way up to Nancy Pelosi.
Oh my God.
You got Marjorie Taylor Greene. You got Jared Moskowitz. You've got just all these people from both sides of the aisle who are looking at their jobs in Congress, not, how can I help these people in my district? How can I help the country? It's how can I put some more zeros at the end of my bank account? And that's what they're doing.
Do you realize there's actually a service that we've actually talked about of this situation before. There's an organization that does nothing but figures out what Nancy Pelosi's husband traded that day, or Moskowitz, or whoever it is. What were the trades that were made by Mitch McConnell? What did they sell short? What did they buy? Whatever it is. It's a service that does nothing but that. Because a smart person's gonna say, hell, Mitch McConnell just sold X number of shares.