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"STOCK" - Stock Trading On Congressional Knowledge - A CASE FOR TERM LIMITS

Published in Blog on April 09, 2024 by Irv Karwick

Have you ever wondered how many members of Congress have become extremely wealthy? For example, Congresswoman Nancy Pelosi has an estimated net worth of $120 million. An extraordinary sum given her annual salary of $179,000. Did you know her husband, Paul Pelosi, profited handsomely to the tune of $5.3 million on Alphabet options just before a House Panel considered anti-trust bills on Alphabet and other big tech firms?

Georgia Senator David Perdue executed 2596 stock trades during his term from 2015 to 2021.

Senator Richard Barr sold hundreds of thousands of dollars of stock in major companies in February 2020 after receiving daily briefings of the coronavirus health threat, then writing an opinion article claiming the US was “better prepared than ever before” to confront the COVID virus.  

Examples such as these are plentiful. Stock trading based on congressional information is not uncommon among members of Congress. Members have long been privy to business initiatives in the in the private sector prior to a public announcement.

Multiple studies have shown that 81% - 88% of adults favor limiting the number of terms members of Congress (House and Senate) are allowed to serve. This includes people of all political persuasions.

The Convention of States Action has a solution to this conundrum. It requires the involvement and action of Americans concerned and interested in the future of the country. The Convention of States organization is working to call a Convention to amend the Constitution, as authorized by Article 5 of the Constitution. There are 3 simple goals to such a convention: 

1)      IMPOSE TERM LIMITS FOR HOUSE AND SENATE MEMBERS 

2)      IMPOSE FISCAL RESTRAINTS ON FEDERAL SPENDING 

3)      LIMIT THE POWER AND JURISDICTION OF THE FEDERAL GOVT AND RETURN                 THAT POWER TO THE STATES

Get involved. Join us at Convention of States Michigan and bring back common sense to our country.

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