Stock Trading Ban for Lawmakers Gains Momentum on Capitol Hill
The New York Times
A bipartisan push is growing to bar members of Congress from trading individual stocks, an effort pushed by vulnerable lawmakers eager to take on perceived corruption in Washington.
WASHINGTON — An effort to strictly control stock ownership by members of Congress is gathering momentum on Capitol Hill for the first time in a decade, fueled by politically vulnerable lawmakers who recognize the potency of signaling to voters that they will act on the perceived corruption in Washington.
The issue of banning the ownership and trading of individual stocks by lawmakers is complex. It raises questions of just what other kinds of personal investments or economic liabilities could be perceived as conflicts of interest, and how far the prohibitions should extend. Speaker Nancy Pelosi of California and Steny H. Hoyer of Maryland, the House majority leader, initially expressed opposition, and even now, it is not clear how far Ms. Pelosi will go to ensure passage of strong legislation.
But with pressure mounting from rank-and-file members in both parties and both chambers of Congress, the top two Democrats on Wednesday signaled an openness to action.
