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☆ 73 members of Congress have violated a law designed to prevent insider trading and stop conflicts-of-interest
▼ + stars: | 2022-11-02 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +2 min

Insider and other media have identified numerous US lawmakers not complying with the federal STOCK Act. Congress is now considering banning lawmakers from trading individual stocks. Congress passed the law a decade ago to combat insider trading and conflicts of interest among their own members and force lawmakers to be more transparent about their personal financial dealings. Ethics watchdogs and even some members of Congress have called for stricter penalties or even a ban on federal lawmakers from trading individual stocks. Here are the lawmakers discovered to have recently violated the STOCK Act — to one extent or another:

☆ Rep. Marcy Kaptur seeks to defend seat against Republican J.R. Majewski in turbulent Ohio congressional race
▼ + stars: | 2022-10-31 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +5 min

A newly redrawn congressional district has put Kaptur's political career in jeopardy. Ohio's 9th Congressional District candidatesNo woman in the US House has served longer than Kaptur, who has served Ohio's 9th Congressional District since 1983 — when President Ronald Reagan was just halfway through his first term. The National Republican Congressional Committee has since bailed on Majewski in a sign that GOP brass have left him to fend for himself. J.R. Majewski, Republican candidate for U.S. Representative for Ohio's 9th Congressional District, takes the stage at a campaign rally in Youngstown, Ohio., Saturday, Sept. 17, 2022. For the past decade, Kaptur has easily dispatched her Republican opponents in this solidly blue-collar and Democratic district.

☆ How a conviction in Trump Org's upcoming trial could bar Trump from federal contracts, even for Secret Service
▼ + stars: | 2022-10-23 | by ( Laura Italiano | Dave Levinthal | ) www.businessinsider.com time to read: +9 min

A ban could end his 'exorbitant' billing of Secret Service agents who protect him at his resorts. Add to that the recent news that the Trump Organization had billed the Secret Service more than $ 1.4 million to stay at Trump properties during the former president's time in office. At the Trump Organization headquarters in Trump Tower on Fifth Avenue, the cars, apartments and tuition were considered part of Weisselberg's $940,000-a-year income, prosecutors allege. Secret Service a tough targetWatchdogs concede that Trump's Secret Service billing is a tough target. Barring the unlikelihood of a cash-free solution — Trump letting the Secret Service "stay at our properties for free," as Eric Trump once promised, or forgoing Secret Service protection voluntarily, as Richard Nixon did — Trump's Secret Service spigot may well remain open, watchdogs acknowledge.

☆ Nancy Pelosi's husband bought at least $1 million in Alphabet stock days before House leadership proposed a congressional stock trading ban
▼ + stars: | 2022-10-17 | by ( Madison Hall | Dave Levinthal | ) www.businessinsider.com time to read: +6 min

Speaker Nancy Pelosi recently disclosed that her husband exercised Alphabet stock call options in September. The value of the stock purchase was between $1 million and $5 million, according to a certified congressional disclosure made by Nancy Pelosi on October 14. Paul Pelosi exercised the Alphabet call options, which he purchased in December 2021, on September 16 — the day they were set to expire. Asked in July whether Paul Pelosi stock trades based on information she's given him, Nancy Pelosi replied: "Absolutely not." Nancy Pelosi ultimately backtracked on her position following criticism from both Republicans and Democrats in office.

☆ How obscure government documents foreshadowed divorce for Kanye West, Marjorie Taylor Greene, and Madison Cawthorn
▼ + stars: | 2022-10-16 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +9 min

Republican Rep. Marjorie Taylor Greene of Georgia, for one, puts her marriage first among her qualifications for elected office. "Marjorie Taylor Greene is a conservative wife, mother of three, a successful business woman and job creator. (Marjorie Taylor Greene, too, has sometimes herself invested in companies that clash with her social sensibilities.) Months later, Cawthorn would reveal in his annual personal financial disclosure that he and Bayardelle, despite their splashy nuptials, had never pooled their finances or jointly owned reportable assets. From billionaire to billionaire, Michael Bloomberg could teach Kanye West a lesson about how to hide one's personal finances when running for president.

☆ Newt Gingrich is a self-avowed fiscal conservative and deficit hawk. But his 2012 presidential campaign committee remains millions in debt.
▼ + stars: | 2022-10-14 | by ( Nicole Gaudiano | Dave Levinthal | ) www.businessinsider.com time to read: +4 min

Gingrich's latest 2012 presidential campaign filing shows a debt of $4.63 million. No presidential campaign from any election cycle owes creditors more money, per federal records. But Gingrich's 2012 presidential campaign committee, almost a decade past its expiration date, is still swimming in a sea of red. No presidential campaign from any election cycle owes creditors more money. A financial filing from Newt 2012, former House Speaker Newt Gingrich's 2012 presidential committee, which remains deep in debt to dozens of creditors.

☆ 72 members of Congress have violated a law designed to prevent insider trading and stop conflicts-of-interest
▼ + stars: | 2022-10-12 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +2 min

☆ 14 times Donald Trump's political action committees promised worthless rewards for a donation
▼ + stars: | 2022-10-12 | by ( Madison Hall | Dave Levinthal | ) www.businessinsider.com time to read: +1 min

Since leaving office, former President Donald Trump has continued to aggressively fundraise. To entice donors, Trump regularly offers incentives to contributors — but they're worthless. Former President Donald Trump has yet to formally announce another run for the presidency in 2024. To entice donors to his PACs, Trump regularly offers items that might appear to have prestige and value. Here's a run-down of 13 made-up awards, prizes, and perks that Trump has offered to contributors during 2022:

☆ Trump told a blatant lie in his latest fundraising text — and his scare tactics could make vulnerable seniors the biggest losers
▼ + stars: | 2022-10-04 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +7 min

A text message sent to prospective donors on October 4, 2020, by Donald Trump's political fundraising operation. There's also no "membership bill" for donors to view, because Trump's committee doesn't send donors bills. Trump's political operation has also recently blasted MAGA Republicans with other bogus fundraising missives. Misleading political fundraising messages are hardly a new phenomenon. Fat from contributions raised through emails and text messages, Save America reported having nearly $92.8 million cash on hand as of August 31, according to Federal Election Commission records.

☆ Nancy Pelosi's congressional stock trading ban has a massive blind trust loophole and is too broad, ethics experts warn
▼ + stars: | 2022-09-29 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +10 min

But ethics experts say the bill has a major loophole when it comes to blind trusts, and is too broad. Broadly speaking, a blind trust is a financial arrangement wherein people turn over their assets to be managed by an independent entity to prevent a conflict of interest. Several previously-introduced bills to ban stock trading allow for lawmakers to place their stocks into a blind trust, rather than fully selling off existing stock holdings. "You'd be able to create any kind of a trust you want to, put anything you want into it, and call it a blind trust, even though there wouldn't actually be any way to prove that it is, in fact, a blind trust." Payne also said the blind trust loophole was a "small risk," but that in an optimistic scenario, "that language allows this law to grow for future circumstances that you just can't be prepared for."

☆ House Democratic leadership finally released the text of their bill to ban members of Congress from trading stocks. Here's what's in it.
▼ + stars: | 2022-09-28 | by ( Bryan Metzger | Dave Levinthal | ) www.businessinsider.com time to read: +7 min

The text comes after months of back-and-forth between Pelosi and lawmakers, and a vote may come this week. Interest in lawmakers' stock trades rose after Insider's "Conflicted Congress" investigation. House Minority Leader Kevin McCarthy, who himself does not trade stocks, said earlier this year that he'd consider barring members of Congress from trading stocks if the GOP wins the House in November. Here's what the bill includes:The bill would ban top officials across all three branches — as well as the spouses and dependent children of members of Congress — from owning or trading stocks, as well as cryptocurrencies. Members of Congress would also be required to file financial disclosures electronically, eliminating a long-standing problem with lawmakers submitting illegible information about their personal finances.

☆ How more than $424 million in taxpayer money is locked away in a forgotten government fund — and lawmakers won't spend it or return it
▼ + stars: | 2022-09-22 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +12 min

The intended beneficiaries of the taxpayer-fueled Presidential Election Campaign Fund — presidential candidates — don't want it, as they're soured by its restrictions on their election fundraising and spending. A US Treasury document detailing the finances of the Presidential Election Campaign Fund. Several nonprofit leaders told Insider that Congress could use the Presidential Election Campaign Fund money to immediately ease suffering, particularly in light of the COVID-19 pandemic. During the 2019-20 congressional session, two Republican lawmakers sponsored similar bills that attempted to kill the Presidential Election Campaign Fund. Until that or any other repurposing decision comes down, the FEC continues to spend taxpayer resources keeping the Presidential Election Campaign Fund alive.

☆ The House may finally vote — next week — on legislation to ban members of Congress from trading stocks
▼ + stars: | 2022-09-22 | by ( Bryan Metzger | Dave Levinthal | ) www.businessinsider.com time to read: +5 min

House Democrats just teed up a potential vote next week on a congressional stock trading ban. "Across the entire federal government, there have been significant stories regarding financial conflicts of interest in relation to stock trading and ownership," Lofgren wrote. A ban on senior government officials, including members of Congress and their immediate families, from trading cryptocurrencies. The House is voting for just 3 days next week, leaving little time for members to consider the new legislation. Several prominent proponents of a stock trading ban recently told Insider that they'd been largely left out of Democratic leadership's legislative plans.

☆ A House Republican and Democrat are introducing a bill that would require members of Congress to file financial disclosures electronically
▼ + stars: | 2022-09-20 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Some members of Congress file financial disclosures that are basically illegible. Dusty Johnson of South Dakota are introducing the Easy to Read Electronic and Accessible Disclosures (READ) Act, which would allow users to search, sort, and download financial disclosure data filed by House members, Senators, and candidates for both chambers. "This means that government records, including financial disclosures filed by elected officials, must be easy to find and easy to understand." "These requirements will help bring critical transparency to the financial situation of members of Congress and more opportunity to spot potential conflicts of interest," added Hedtler-Gaudette. The bill comes amid a broader push to ban members of Congress from trading stocks.

Hi, I'm Matt Turner, the editor in chief of business at Insider. (If that term is new to you, it's "a state, society, or group governed by old people.") A new four-month investigation from our politics team looks at the disastrous effect it's having on American democracy. But our government has never been older than it is today. Rebecca Zisser/InsiderWith warm temperatures and low living costs, Florida has been a haven for retirees for decades.

☆ 'Red, White, and Gray': Key findings from Insider's investigation into the United States' gerontocracy
▼ + stars: | 2022-09-18 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +1 min

Sign up for our newsletter to receive our top stories based on your reading preferences — delivered daily to your inbox. Insider journalists have spent four months interviewing hundreds of sources and analyzing gigabytes of data to understand how the United States arrived at this moment. In "Red, White, and Gray," Insider endeavors to explain what it means for a nation that, on balance, is decades younger than its representatives in Washington, DC. Launched September 13, here are highlights and key findings from this ongoing series:New installments of "Red, White, and Gray" will be published here through early October as voters across the country prepare for the midterm elections. Have a tip for Insider's "Red, White, and Gray" reporting team?

☆ Attention Gmail users: Your inboxes are about to get way more spammy with political email thanks to a new ruling by federal regulators
▼ + stars: | 2022-08-11 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +7 min

Google asked federal regulators to OK a plan for easing spam filters on political emails. Even a commissioner who wasn't thrilled with the notion of unleashing more political emails on an overloaded electorate concluded Google's program proposal is legal. "If people want political spam, let them sign up for it. Before the final vote Thursday, Weintraub motioned to approve a alternate ruling that would have effectively prevented Google from launching its pilot program. Gmail users will retain the right to opt-out of receiving political emails, but this will require more vigilance on their part.

But candidates and political committees are increasingly open to accepting bitcoin and altcoins. Are you a political candidate or lead a political committee and accept cryptocurrency? If the price of bitcoin goes up while a political committee is in possession of it, the committee may legally profit. While the FEC expressly says political committees may accept up to $100 worth of bitcoin, it's silent on whether it's legal for committees to accept more. Here are 25 federal political candidates and political committees that have, of late, led the way into the uncertain realm of cryptocurrency and elections.

☆ Rep. Marjorie Taylor Greene just bought stock in 2 more companies that back Black Lives Matter
▼ + stars: | 2021-09-07 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +6 min

Greene has purchased stock in several companies that contradict her political positions. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyIn April, Rep. Marjorie Taylor Greene said Black Lives Matter "is the strongest terrorist threat in our county." She also introduced legislation to award Congressional Gold Medals to law-enforcement officers "who protected American cities during the Black Lives Matter (BLM) riots" of 2020. Speaking up because BLACK LIVES MATTER." Consumers may also buy numerous Black Lives Matter-themed products at Walmart.com — but no "all lives matter" merchandise.

☆ Nancy Pelosi's husband just invested millions in 2 tech companies with lots at stake on Capitol Hill
▼ + stars: | 2021-07-12 | by ( Kimberly Leonard | Dave Levinthal | ) www.businessinsider.com time to read: +8 min

The House speaker's husband, Paul Pelosi, made two million-dollar stock trades. Pelosi's husband buys up more stocksHouse Speaker Nancy Pelosi's husband, Paul Pelosi, bought stocks in Google's parent company, Alphabet, and in Nvidia Corporation, which designs graphics-processing units for the gaming market. Drew Hammill, the speaker's spokesman, said she did not own any stock and complied with all disclosures, which require members of Congress to post stock trades for spouses and dependent children. Rep. Pat Fallon, a Republican from Texas, in a group photo with freshman members of the House Republican Conference on the House steps of the US Capitol on January 4. By federal law, members of Congress have 30 days from when they become aware of a stock trade to formally disclose it.

☆ We identified the 125 people and institutions most responsible for Donald Trump's rise to power and his norm-busting behavior that tested the boundaries of the US government and its institutions
▼ + stars: | 2021-06-26 | by ( Darren Samuelsohn | Tom Lobianco | Claire Atkinson | ) www.businessinsider.com time to read: +2 min

Insider compiled this database of the 125 people and institutions essential to Donald Trump's rise to power and his norm-busting presidential behavior. Listed are friends, family, lawyers, business partners, donors, staff, media executives, and social-media influencers. Sort the list by their relationships with Trump, as well as when and where they entered the 45th president's orbit. It was a whirlwind unlike anything in US history, hence our attempt to build a searchable database to better understand the people and organizations that helped make Trump Trump. Insider sought comments from those included about what it meant to them that their personal legacy would forever be connected to Trump.

☆ Anthony Gonzalez snags GoodRx, Marie Newman sells Moderna, Gary Peters buys fossil fuel burners
▼ + stars: | 2021-04-26 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +8 min

Newman sells ModernaLast week, Insider reporters Kimberly Leonard and Warren Rojas profiled the stock trades of Rep. Marie Newman, a freshman Democrat from Illinois, and her husband. On Wednesday, Newman reported that she or her husband made additional stock trades in January. And he and his wife last week reported making dozens of different stock trades and financial moves during March. Rep. Josh Gottheimer, a Democrat from New Jersey, made more than 60 stock trades during March. Rep. John Yarmuth, a Democrat from Kentucky, meanwhile made nearly 20 stock trades during March.

☆ Seth Moulton bankrolls ring maker, Mark Green goes crypto, Mark Warner sells a 7-figure window-and-door investment
▼ + stars: | 2021-04-19 | by ( Dave Levinthal | Kimberly Leonard | ) www.businessinsider.com time to read: +10 min

Democratic Rep. Seth Moulton has made a major investment in a Finnish wearable tech firm. Sen. Mark Warner, a Democrat, sold a major investment in a high-end window company. Elon Musk would be proudRep. Mark Green, a Republican from Tennessee, purchased between $1,001 and $15,000 worth of cryptocurrency Dogecoin — the same day virtual currency platform Coinbase went public. According to Barron's, he paid $1.95 million to acquire 15,000 shares for $130 each, and paid $1.4 million for 10,000 shares for $140 each. He also bought between $1,000 and $15,000 worth of stock in Amazon.

☆ New York Rep. Sean Patrick Maloney hit with congressional ethics complaint over stock sale disclosures
▼ + stars: | 2021-04-13 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +5 min

The Foundation for Accountability and Civic Trust is asking for an ethics probe of Rep. Sean Maloney. Insider first reported Maloney was months late in publicly disclosing the sale of eight stocks in potential violation of federal law. The New York Democratic congressman's office said the late filing was an "oversight" and promised to pay any fines. They include former Republican Sen. David Perdue of Georgia, former Republican Sen. Kelly Loeffler, former Democratic Rep. Donna Shalala of Florida, and Democratic Sen. Dianne Feinstein of California. Former Rep. Chris Collins, a New York Republican, briefly served time in federal prison following an insider-trading scandal that ended his political career.

☆ Visa's PAC gave politicians $139,000 in March after vowing to pause contributions because of the Capitol insurrection
▼ + stars: | 2021-04-07 | by ( Kayla Epstein | Dave Levinthal | ) www.businessinsider.com time to read: +4 min

Visa's PAC has resumed political donations after announcing a pause following the January 6 Capitol attack. On March 24, Visa gave a total of $139,000 to candidate and political committees on both sides of the aisle. None of the lawmakers voted to object to the certification of the 2020 election results. Visa also filled coffers of the Democratic Congressional Campaign Committee and Democratic Senatorial Campaign Committee, giving each one $15,000. On January 12, less than a week after the attack, Visa's PAC "temporarily suspended all political donations as we review our candidate contribution guidelines," the company told the Washington Post.

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