Fox Business’ Charles Payne has spotted another questionable stock trade that took place from a member of Congress. This particular trade is related to banking:
Ban congressional stock trading ASAP https://t.co/38BkUQA2Jt
— Charles V Payne (@cvpayne) May 1, 2023
When Nancy Pelosi was the House Speaker she said calls to ban congressional trading weren’t necessary, and it still hasn’t happened. Here’s what Payne was quote tweeting:
BREAKING NEWS: Another Congressman literally traded banking stocks again.
Lois Frankel sold $FRC on March 16th, avoiding the remaining 80% drop.
She THEN BOUGHT $JPM, the bank buying FRC on March 22nd.
— unusual_whales (@unusual_whales) May 1, 2023
Another day another curious trade from a member of Congress.
You'll never see it, it's their gravy train.
— Phillip McGuire (@PhillipCMcGuire) May 1, 2023
They are too busy going after the small retail trader.
— DaTrade (@DaTrade33) May 1, 2023
It baffles me that this has never been an issue…good grief…unlimited terms and congressional stock trading…common sense no-nos that should be addressed immediately @cvpayne
— ann (@travelgirlann2) May 1, 2023
How else do these people making low six figure incomes retire mega multimillionaires. There's some really sharp investment gurus right there.
— Tom in FL (@thomasa56) May 1, 2023
Of course it’s a total coincidence that members of Congress tend to beat the market at a higher percentage than the general public.
More than two dozen members of Congress beat the stock market last year despite Wall Street suffering its worst year since 2008, according to an analysis by a stock-trading site.
[…]
Topping the list of winners was Rep. Patrick Fallon, a Texas Republican, who made 51.6% on his investments in 2022, according to the data. Right behind him was Florida Democrat Debbie Wasserman-Schultz, with a 50.8% spike, the report indicated.
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