The NPR Politics Podcast Do Lawmakers Have More Insight Into Stocks Than The Public? TikTok Users Think So.
Sep 23, 2021
Tim Mak, an NPR investigative correspondent, sheds light on the ethical turmoil within Congress regarding stock trading. He discusses how seven lawmakers are facing complaints for allegedly violating the Stock Act, with many claiming ignorance. The conversation dives into TikTok users leveraging congressional stock disclosures to guide their investments, revealing public distrust in lawmakers. Ultimately, the discussion raises questions about the integrity of lawmakers and the broader implications for everyday investors navigating this controversial landscape.
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Burr's Stock Trades
- Senator Richard Burr faced scrutiny for stock trades after a classified COVID-19 briefing.
- He sold up to $1.72 million in stocks after the briefing, raising insider trading concerns.
Unreported Trades
- Seven House members face ethics complaints for not reporting stock trades as required by the Stock Act.
- Some claim it was accidental, while others blame advisors or clerks.
TikTok Stock Tips
- TikTok users track Nancy Pelosi's husband's stock disclosures to inform their own investment decisions.
- They believe that they can profit by mimicking his trades.