The AOC states that it is “not really a mystery” that Congress did not pass the ban on stock trading, given that “a huge amount” of lawmakers are trading stock.

New York Democrat Alexandria Ocasio Cortez left the caucuses at the US Capitol on October 1, 2021.

New York Democrat Alexandria Ocasio Cortez left the caucuses at the US Capitol on October 1, 2021.Alex Wong / Getty Images

  • The AOC said lawmakers’ own investment in stocks poses an obstacle to banning them from trading stocks.

  • She emphasized that it is the individual stocks that pose the ethical risk, not the kind of mutual funds.

  • “That’s where we should draw the line,” she said. She co-sponsors a bill banning that practice.

Democrat Alexandria Ocasio Cortez of New York provided a frank assessment of why he did not vote to ban stock trading.

and Interview with Yahoo Finance A progressive lawmaker announced Wednesday said that the reason why the stock ban is “difficult to pass” in Congress, given that “a huge amount” of members hold shares, is “a mystery to me.” Not. “

“I wouldn’t be surprised if it was a majority stake, transaction and personal stake in Congress,” she said. “I don’t know the actual number, but it’s a very large number.”

Insider’s “Conflicting Parliament” Investigation It turns out that 277 lawmakers did not report that they owned individual equity investments in 2020. This means that just under half of the legislators make such investments.

Insiders also have existing provisions for fighting insider trading, especially the Stock Act, Insufficient enforcementWhen Dozens of lawmakers When Approximately 200 staff It violates the disclosure provisions of the law.

Ocasio-Cortez further emphasized that potential conflicts of interest may result from individual shareholdings, but not from more widely held investments.

“I’m not saying you can’t have a retirement fund, or a college savings account, a blind trust, a mutual fund, or an index fund,” she said. “These are a wide range of investment tools and cannot be directly controlled by individual members of Parliament.”

Congressman New York is a co-sponsor of the Ban Conflicted Trading Act. One of several different bills banning lawmakers from trading stock.. In particular, the bill will allow members to continue to hold widely held investment funds.

However, the bans supported by Ocasio-Cortez do not include spouses. Some have been identified as potential “loopholes” Given that spouses probably discuss personal finances with each other, in any potential reform.

It seemed that lawmakers also quoted Insider Report on Parliamentarians Buying Vaccine Maker Stocks.. “But last year, there were at least 75 lawmakers holding individual shares in Johnson & Johnson, Moderna, and Pfizer, which we’ve been discussing in the last 1-2 years,” she said.

rear Initially opposed to banning stock tradingSpeaker of the House Nancy Pelosi Directs the House Management Committee Consider imposing a higher penalty for STOCK Act violations, Since then she has reversed her position on this issue..

“If members want to do that, I’m fine,” Pelosi said recently, referring to a stock ban.Ocasio Cortez Critical to Pelosi’s previous position in the past..

And recently Some new proposals to ban stock trading to lawmakers Has appeared.Just Wednesday, Nebraska Republican Senator Ben Sasse Reintroduced his own bill banning practices..

“Keep applying pressure” Ocasio Cortez I wrote in a tweet on Wednesday.. “It’s working.”

Recent polls show From 67% 76% of the population We support the prohibition of stock trading by lawmakers.

“That’s where we should draw a line,” continued Ocasio Cortez. “Parliamentarians have access to very sensitive security clearances. We have access to very finely tuned briefs. Our work is to anticipate what we are seeing. It is to legislate. “

“We shouldn’t have the ability to access that information, and we shouldn’t be able to hold trading on individual stocks,” she added.

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