Banning members of Congress and government officials from trading stocks is highly popular, even among many rank and file lawmakers—but not among the congressional leaders who control which bills advance.
At least nine members of Congress have already violated the STOCK Act this month by failing to disclose their financial transactions within 45 days.
At least two more Democrats and a Republican senator failed to report stock transactions last year as a ban on congressional stock trading flounders in a Senate working group.
A new disclosure shows Rep. Kathy Manning (D-N.C.) and her spouse made dozens of undisclosed stock trades last year.
The bill, now stalling in the Senate, would require federal judges to report stock trades and make judges' financial disclosures available to the public online.
Researchers studying congressional stock ownership have found that the practice has effects on lobbying activity and potentially on market movements.
As he serves on the subcommittee overseeing ports of entry, Richard Blumenthal’s wife is investing in a cargo security company that says it is the only company that can satisfy the scanning requirements recommended by Congress.
Senator and reps would no longer be able to bury their financial details on hand-written and poorly scanned paper filings.
