A new documentary from BlazeTV and Glenn Beck, “Bought And Paid For,” is shedding light on questionable D.C. insider practices that have turned Congress into a massive money-making enterprise.
“It’s something that we have to fix,” opined Beck. “Because the soul of our country is being tainted…. History has shown us time and time again that the redistribution of wealth is a con,” he asserted. “Money doesn’t flow from the billionaires to the people in the middle and lower classes. It flows to the people writing the laws.”
The president of Blaze and bestselling author of “Arguing With Socialists” pointed out that, while the S&P 500 closed out 2023 with an impressive 24 percent gain, dozens of Congress members with zero trading expertise outperformed that rate substantially. Examples included representatives Brian Higgins, Mark Green, and Nancy Pelosi, whose returns totaled 238, 122, and 65 percent, respectively.
“Congress only managed to pass 27 bills in 2023, but many of its members had a much more productive year in the stock market, according to a new report that highlights their trading performance—which was helped by the fact that those in Congress are exempt from certain insider trading rules,” Fortune reported.
“What are the odds?” Beck asked mockingly.
“Bought And Paid For” reveals that members of Congress have often been permitted to purchase stock in companies based on “insider information” about those companies. As Convention of States reported in 2022, for example, Representative Dan Crenshaw purchased stock in Boeing on the same day Congress granted Boeing $17 billion in funding. Amazingly, later that same year, a Boeing PAC donated to Crenshaw’s reelection campaign.
“Imagine buying shares in a company that you regulate, or investing into defense contractors right before a war breaks out, or selling shares because you know, before anyone else does, that a global pandemic is about to break out,” James Poulos narrates at the beginning of the film. “That’s all happened. For ordinary Americans… trading on inside information is, of course, a felony. But for elected representatives, it’s an opportunity to make a killing.”
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Later in the film, Poulos interviews Texas Representative Chip Roy, a Convention of States endorser, who, along with Congresswoman Abigail Spanberger, a Democrat, introduced the Transparent Representation Upholding Service and Trust (TRUST) in Congress Act to ensure that federal lawmakers focus on “serving the interests of the American people — not their own stock portfolios.”
“We can’t even figure out how to balance the budget and do the job we’re supposed to do,” an incredulous Roy remarked. “Like, what are you doing spending your time day trading, and frankly, too often on information you have access to?”
After having introduced the TRUST Act several times, and despite broad bipartisan support for the measure, the Lone Star State representative disclosed that he still struggles to secure a vote for the bill on the House floor. When asked why Congress is squeamish about advancing the legislation, he replied, “I mean, have you met Congress?”
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Of course, if the enlightening film has a flaw, it’s ending on this uninspiring note of defeat. Despite mentioning a few potential solutions to the depicted problem, they all seem to fall short, primarily because they would require direct action from Congress itself — a prospect that, as indicated by Rep. Roy, appears unlikely to materialize.
Luckily, at Convention of States, we know we don’t have to wait for Congress to crack down on federal corruption. Through an Article V convention, we can limit federal spending, power, and terms of office — and there’s nothing Congress can do to stop us.
Join us in support of this important cause today when you sign the Convention of States petition below — and together, let’s bid bought-and-paid-for politicians adieu.
New documentary EXPOSES filthy rich politicians
Published in Blog on April 11, 2024 by Jakob Fay