A Wall Street Journal investigation revealed that thousands of officials across the U.S. government’s executive branch disclosed owning or trading stocks that stood to rise or fall with decisions their agencies made. Across 50 federal agencies ranging from the Commerce Department to the Treasury Department, more than 2,600 officials reported stock investments in companies while those companies were lobbying their agencies for favorable policies, during both Republican and Democratic administrations. When the financial holdings caused a conflict, the agencies sometimes simply waived the rules.

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