Wednesday, October 8, 2025

Latest

Biden Finally Takes Side in Congressional Trading Dispute

In his last few weeks in office, President Joe Biden is voicing support for banning members of Congress from trading stocks, a significant shift in his position on a long-standing controversy over congressional trading.

“Nobody in the Congress should be able to make money in the stock market while they’re in the Congress,” Biden said in an interview with Faiz Shakir, a political adviser to Senator Bernie Sanders. The interview is being released this week by A More Perfect Union, a pro-labor organization.

The statement marks a departure from Biden’s previous stance. His former press secretary, Jen Psaki, had indicated two years ago that the president would defer to congressional leadership on establishing trading rules.

During the interview, Shakir praised Biden for not investing in major tech companies like Google, Boeing, Microsoft, Nvidia, and Amazon during his 36-year tenure as a US senator from Delaware. 

“I don’t know how you look your constituents in the eye and know, because the job they gave you, gave you an inside track to make more money,” Biden said. “I think we should be changing the law.”

Flashback: Nancy Pelosi Posted Gains of 65% in 2023

The issue gained prominence during the coronavirus pandemic when some lawmakers traded millions in stocks following virus-related briefings. A bipartisan proposal to ban trading by members of Congress and their families has attracted dozens of sponsors but has not come to a vote.

Current rules require lawmakers to disclose stock transactions exceeding $1,000, though compliance has been inconsistent, with some members filing late or failing to report altogether.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Biden’s ‘Build Back Better’ Infrastructure Plan to Cost Upwards of $3 Trillion

With the latest $1.9 trillion stimulus bill still hot off the printing press, an increasing...

Monday, March 22, 2021, 04:28:10 PM

Biden Administration Unveils $4.3 Billion Plan for Domestic Uranium Production

The Biden administration is urging lawmakers to pass a $4.3 billion plan that would purchase...

Wednesday, June 8, 2022, 12:12:00 PM

Biden-Trump Debate Summary: Face-Off Would Make One Ask Why US Only Has To Choose Between These Two

Incoherence or falsehoods: these are essentially the choices an American is likely to have at...

Friday, June 28, 2024, 12:43:39 AM

Iran’s Stockpile of Bomb-Grade Uranium Grows, Biden Presses Allies Not To Confront Iran About Nuclear

Iran has significantly increased its stockpile of near bomb-grade uranium, a development likely to heighten...

Thursday, May 30, 2024, 11:04:00 AM

Joe Biden Prepares to Frantically Sell Oil From Reserves After Snubbed by OPEC

With President Joe Biden left empty-handed after begging OPEC for more oil and midterm elections...

Tuesday, October 18, 2022, 11:36:35 AM