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Revealed: how US senators invest in firms they are supposed to regulate
Key Excerpts from Article on Website of The Guardian (One of the UK's leading newspapers)
Posted: October 6th, 2019
https://www.theguardian.com/us-news/2019/sep/19/us-senators-...
As they set national policy on important issues such as climate change, tech monopolies, medical debt and income inequality, US senators have glaring conflicts of interest, an investigation by news website Sludge and the Guardian can reveal. An analysis of personal financial disclosure data as of 16 August has found that 51 senators and their spouses have as much as $96m personally invested in corporate stocks in five key sectors: communications/electronics; defense; energy and natural resources; finance, insurance and real estate; and health. Overall, the senators are invested in 338 companies. The median stock investment range in the five sectors for the 51 senators is between $100,000 and $365,000, while the average range of the investments is between $551,000 and nearly $1,874,000. Not only are the senators far wealthier than most of their constituents, but theyre in a prime position to increase their wealth via policymaking. Its not illegal for members of Congress to have personal financial stakes in the industries on which they legislate. But such investments raise questions about lawmakers motivations. Some senators want to do away with these perceived conflicts of interest. Senator Elizabeth Warren introduced anti-corruption legislation in August 2018 that included a ban on members of Congress, senior congressional staff, cabinet secretaries, White House staff, federal judges and other officials from owning ... securities while in office.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.
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