Congressional stock trading has plunged more than 75% so far this year here’s why

Published

2 years ago

October 19, 2023

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Congressional stock trading has fallen off sharply this year, according to an analysis by a popular financial news site and some insiders believe its because US lawmakers are feeling heat from a possible legislative clampdown.

The volume of stock trades made by members of Congress tumbled more than 75% in the nine months of this year to just 1,800 trades versus 8,000 a year earlier, according to data from Unusual Whales.

Former House Speaker Nancy Pelosi has made just six trades this year as a congresswoman representing San Francisco. Those include selling Roblox shares, buying Apple and Microsoft shares and acquiring a stake in a luxury hotel, according to recent filings.

Thats a steep dropoff from the 39 trades she made in 2022, the 24 trades she made in 2021, and the 38 trades she made in 2020.

A spokesperson for Pelosi did not respond to a request for comment.

While the markets have been bumpy this year, overall trading volume is down just 10%, according to CBOE data, versus the three-quarters plunge inside Congress.

Passing legislation, sources say, is critical to keep Congress from trading again.

If a movement doesnt turn into a law, Congress isnt going to remain scared, Jeff Hauser, founder of nonprofit watchdog the Revolving Door Project, said. The combination of a bill that could pass and the broader conversation acts as a deterrent.

Ethics experts say the another reason may simply be that members dont feel the trades are worth the trouble anymore.

Federal Reserve governors Eric Rosengren and Robert Kaplan resigned after scrutiny of their trades. Now-retired Sen. Richard Burr stepped down as Chair of the Intelligence Committee and now-ex-Sen. James Inhofe resigned after scrutiny of trades.

It may not be worth the grief, Charles Stewart III, a political science professor at MIT, told On The Money.

The founder of Unusual Whales, who prefers to remain anonymous, notes that members of Congress have lately been far more diligent about filing their trades quickly. The STOCK Act requires members to file their trades within 45 days but members of Congress like Pelosi lately are filing within just a few days.

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There is limited upside and maybe a lot of downside to congressional trading these days, agrees Thomas Hayes, chairman at Great Hill Capital. Shining a light on this has played a big role.

Another issue: Some of the most lucrative, valuable stocks like Google and Amazon which Pelosi had snatched up are presenting an even greater conflict of interest than they did previously.

The tech high flyers that many members wanted to trade in are politically fraught these days a reference to lawsuits both Google and Amazon are facing, Stewart adds.

While some applaud the recent trend, others are more cautious and note stronger laws against stock trading need to be codified.

Attention helps and attention makes transparency more effective, Jeff Hauser, founder of nonprofit watchdog the Revolving Door Project, said. But even more effective than transparency is strict rules.

As for the question of whether regulators will ever be willing to regulate themselves, the answer is almost always no. Still, Hauser is optimistic that with enough sticks not to mention the dwindling supply of carrots lawmakers could eventually succumb.

If the momentum grows big enough, it could pass, Hauser said. And it only has to pass one time.

World

Trump could meet Putin as early as next week to discuss Ukraine ceasefire – White House official

Published

2 hours ago

August 7, 2025

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Trump could meet Putin as early as next week to discuss Ukraine ceasefire - White House official

Donald Trump could meet Vladimir Putin in person as early as next week to discuss a ceasefire in Ukraine, a White House official has said.

They said the meeting would be conditional on the Russian president meeting his Ukrainian counterpart Volodymyr Zelenskyy, Sky News’s US partner network NBC News reported.

It came days before the White House’s deadline for Russia to reach a peace deal with Ukraine or face severe economic penalties, which could also target countries buying its oil.

Ukraine war latest

Asked during a news conference at the White House if the talks would take place, Mr Trump said: “There’s a very good prospect that they will.”

He said it had not been determined where the talks would take place, but added: “We had some very good talks with President Putin today.”

However, he said: “I’ve been disappointed before with this one.”

Asked if Mr Putin made any kind of concession to lead to the development, Mr Trump did not give much away, but added: “We’ve been working on this a long time. There are thousands of young people dying, mostly soldiers, but also, you know, missiles being hit into Kyiv and other places.”

Trump might finally be a step closer to ending the war

Seven hours is a long time in US politics.

At 10am, Donald Trump accused Russia of posing a threat to America’s national security.

At 5pm, Trump said there was a “good prospect” of him meeting Vladimir Putin “soon”.

There had, he claimed, been “great progress” in talks between his special envoy Steve Witkoff and the Russian president.

It’s difficult to gauge the chances of a meeting between the two leaders without knowing what “great progress” means.

Is Russia “inclined” towards agreeing a ceasefire, as Ukraine’s president now claims?

Is Putin prepared to meet with his Ukrainian foe Volodymyr Zelenskyy, too?

The very fact that we’re asking those questions suggests something shifted on a day when there was no expectation of breakthrough.

Trump repeatedly vowed to end the war within 24 hours of becoming president.

On day 198 of his presidency, he might, just might, be one step closer to achieving that.

More tariffs ‘could happen’

Mr Trump also said he could announce further tariffs on China similar to the 25% he announced on India over its purchases of Russian oil.

“Could happen,” he said, after saying he expected to announce more secondary sanctions intended to pressure Russia into ending its war with Ukraine.

Earlier, he imposed an additional 25% tariff on Indian goods, on top of a previous 25% tariff, over its continued purchases of Russian oil.

India’s foreign ministry spokesperson said the additional tariffs were “unfair, unjustified and unreasonable”.

It came after Mr Putin held talks with Mr Trump‘s special envoy Steve Witkoff in Moscow, with the meeting lasting around three hours.

In a post on Truth Social, Mr Trump said Mr Witkoff “had a highly productive meeting” with Mr Putin in which “great progress was made”.

He said he had updated America’s European allies, and they will work towards an end to the Russia-Ukraine war “in the days and weeks to come”.

‘The war must end’

Mr Zelenskyy later said he and Mr Trump spoke on the phone after the meeting. He said “European leaders also participated in the conversation” and “we discussed what was said in Moscow”.

He added: “Our common position with our partners is absolutely clear: The war must end. We all need lasting and reliable peace. Russia must end the war that it started.”

Mr Zelenskyy later said: “It seems that Russia is now more inclined to agree to a ceasefire.”

He added that the pressure on Moscow “is working”, without elaborating, and stressed it was important to make sure Russia does not “deceive us or the United States” when it comes to “the details” of a potential agreement.

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