New disclosures on U.S. lawmakers' stock trading
6/24/12 1:30 PM ET (MarketWatch)Print
WASHINGTON (MarketWatch) - More than 100 members of Congress routinely traded stock in companies lobbying on bills that came before their committees between 2007 and 2010, according to an analysis published by the Washington Post on Sunday. The practice is permitted under current congressional ethics rules. The lawmakers bought and sold a total of $85 million to $218 million worth of shares in 323 companies registered to lobby on legislation that appeared before them, the report concluded. Earlier this year, Congress barred lawmakers from trading on inside information acquired on Capitol Hill. But the law does not bar lawmakers from investing in firms that could be impacted by their congressional committee actions.
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