A Polish woman from Virginia says it is time for Congress to finally pass a blocked bill banning other members and their families from trading stocks while in office, after a recent report found dozens of lawmakers beat the market in 2022 regardless that Wall Street experiencing its worst 12 months since 2008.
“These figures illustrate the apparent – that we should always have voted a protracted time ago for a bill to ban” stock trading in Congress – Congressional Confidence Actrepresentative Abigail Spanberger told The Post.
“The overwhelming majority of the American people need to do that, and legislators should show that they’re solely focused on the interests of the American people – not the interests of their very own equity portfolios,” continued the Democrat.
Spanberger – joined on Thursday by Republican Texas Representative Chip Roy restoration of the two-party law he answered eye-opening report by the stock news service Unusual Whales. It showed that the S&P 500 was down 18.2% in 2022 as many Americans’ 401K sank just like the Titanic, but members of Congress and senators who traded only saw profits fall by 1.76%. Republican Polish actually finished their trades up 0.4%.
![Representative Abigail Spanberger](https://nypost.com/wp-content/uploads/sites/2/2023/01/rep-abigail-spanberger-featured.jpg?w=1024)
Topping the list of winners was Congressman Patrick Fallon (Republic of Texas), who earned 51.6% on his investments in 2022. It was closely followed by Congressman Debbie Wasserman-Schultz (D-Fla.), with a rise of fifty.8%, and Representative Susie Lee (D-Nevada) at 21.4%.
Fallon’s most lucrative bet was on Twitter. In January 2022, he scooped up $150,000 value of stock and flipped it after Elon Musk announced plans to take over the social media giant – earning as much as $75,000 in line with the evaluation.
Former Congresswoman Marie Newman (D-Illinois), who lost her re-election bid last 12 months, was certainly one of the few members of Congress to fare worse than the S&P 500, ending last amongst her stock-playing congressional peers with a grid lack of 83, 1%.
![Representative Patrick Fallon](https://nypost.com/wp-content/uploads/sites/2/2023/01/stocks-1-1.jpg?w=1024)
But essentially the most notable loser last 12 months was California Democrat Nancy Pelosi, who wavered over her stance on the proposed trade ban in 2021 and 2022 while she was still a speaker in the House of Representatives. Her family portfolio, overseen by her husband, enterprise capitalist Paul Pelosi, fell 19.8 percent.
Not one of the Recent York cops were seen in the document, but Unusual Whales provided The Post with additional data showing modest securities trading activity over the past two years by recent House Minority Leader Hakeem Jeffries and former Congresswoman Carolyn Maloney, each Democrats.
Senate Majority Leader Chuck Schumer (D-NY) said through a spokesperson that he supports a ban on the trade by members of Congress.
![Representative Marie Newman of Illinois speaks at the podium](https://nypost.com/wp-content/uploads/sites/2/2023/01/stocks-3.jpg?w=1024)
Usual Whales relied on financial disclosure forms filed by 131 – or 24% – of the 535 members of Congress who reported trading activity in 2022. An earlier report released in 2021 also found that members of Congress fared higher than average in trading investor from america.
Because the Post previously reported, dozens of lawmakers from each side have a protracted history of strange time deals involving the businesses they regulate.
Members of Congress are required to reveal their stock transactions, although they often flout the law by doing so weeks or months after they’ve been made.
In 2022, they traded quite a lot of assets value as much as $788 million through greater than 12,700 purchases, sales and exchanges. That is $189 million less in transactions than in 2021, when the same variety of transactions was reported by 147 interviewers who filed disclosure statements.
Amongst the biggest stocks purchased by members of Congress last 12 months were Apple ($6.3M), Disney ($6.25M), Google ($6.2M), electric automotive company Muska Tesla ($6.08M) and tech giant Nvidia ($5.68 million). Top stocks include Visa ($11.2M), Nvidia ($6.35M), Exxon Mobile ($5.32M), pharmaceutical titan Eli Lilly ($5.21M) and Microsoft ($3.4M) ).