Insider Trading And Congress: How Lawmakers Get Rich From The Stock Market
October 21, 2020
In spring 2020, four U.S. senators faced accusations of using insider knowledge about the coronavirus crisis to sell off hundreds of thousands of dollars in stock. A couple of months later, the investigations into senators Kelly Loeffler (R-GA), Dianna Feinstein (D-CA), and James Inhofe (R-OK) were closed. Sen. Richard Burr (R-NC) stepped down as chairman of the Senate Intelligence Committee amid the allegations.
Congressional insider trading has long been a hot button issue, and lawmakers continue to look for a way to put an end to the practice. In 2012, the STOCK (Stop Trading on Congressional Knowledge) Act was passed following allegations of insider trading before the 2008 financial crisis. However, experts say the law didn’t go far enough. Watch the video to find out how prevalent insider trading is in Congress and what’s being done, and what’s not being done, to stop it.
CORRECTION (October 21, 2020): A previous version of this video mischaracterized the investment returns from several studies. They should have been characterized as basis points.
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News O…
The post Insider Trading And Congress: How Lawmakers Get Rich From The Stock Market appeared first on CNBC Africa.
Nkemnji Global Tech
Pan African Visions | November 28, 2020 5:17 pm
Pan African Visions | November 28, 2020 5:08 pm
Pan African Visions | November 28, 2020 4:36 pm
Tanzania: African Development Bank approves $120 million loan to build Malagarasi Hydropower Project
Pan African Visions | November 27, 2020 3:41 am
November 29, 2020 10:01 am
November 28, 2020 5:17 pm
November 28, 2020 5:08 pm
Lafarge-Holcim A Profit Business Cement Manufacturer Turns Humanitarian- Non-Profit- ‘’Declaring Climate-Change now a Climate-Crisis’’
November 28, 2020 5:04 pm
November 28, 2020 4:36 pm