Money in Politics

Congressional Insider Trading

June 22, 2020 CallTime.AI Season 1 Episode 20
Money in Politics
Congressional Insider Trading
Chapters
Money in Politics
Congressional Insider Trading
Jun 22, 2020 Season 1 Episode 20
CallTime.AI

The Department of Justice recently opened investigations into lawmakers who sold millions of dollars in stocks after attending closed-door congressional briefings about the COVID-19 pandemic, soon before the market experienced a sharp downturn. Prior to the 2012 passage of the STOCK Act, however, it was completely legal for members of congress to use private information they received as part of their congressional duties to make trading decisions for their own financial benefit. Unsurprisngly, they frequently did. Craig Holman helped draft and pass the STOCK Act, along with some of the most influential ethical and financial regulations concerning public officials. He's done so as the Capitol Hill lobbyist for Public Citizen, a nonprofit consumer advocacy organization. Craig joins the Money in Politics podcast to discuss these most recent allegations of insider trading, as well as his other work to fight back against the negative impact of money in politics.

Show Notes

The Department of Justice recently opened investigations into lawmakers who sold millions of dollars in stocks after attending closed-door congressional briefings about the COVID-19 pandemic, soon before the market experienced a sharp downturn. Prior to the 2012 passage of the STOCK Act, however, it was completely legal for members of congress to use private information they received as part of their congressional duties to make trading decisions for their own financial benefit. Unsurprisngly, they frequently did. Craig Holman helped draft and pass the STOCK Act, along with some of the most influential ethical and financial regulations concerning public officials. He's done so as the Capitol Hill lobbyist for Public Citizen, a nonprofit consumer advocacy organization. Craig joins the Money in Politics podcast to discuss these most recent allegations of insider trading, as well as his other work to fight back against the negative impact of money in politics.