Should Congress be able to trade stocks?

Today, Explained

Vox

News, Daily News, Politics

4.3 • 10.3K Ratings

🗓️ 6 April 2022

⏱️ 25 minutes

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Summary

A 2012 law tried to limit lawmakers' ability to make money on Wall Street. It hasn’t worked. This episode was produced by Hady Mawajdeh, edited by Matt Collette, engineered by Efim Shapiro and Paul Mounsey, fact-checked by Laura Bullard and Victoria Dominguez, and hosted by Noel King. Transcript at vox.com/todayexplained Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Today, today, explain.
0:05.0	A hearing tomorrow on Capitol Hill will probably command attention because for once Republicans
0:11.1	and Democrats agree on something.
0:14.8	Representative Alexandria Ocasio-Cortez of New York thinks lawmakers should not be able
0:19.3	to use insider information to game the stock market.
0:22.1	It's incredibly important that we ban the ability for members of Congress to direct trades
0:29.3	in individual stock.
0:31.3	Maybe unsurprising.
0:33.3	But you know who agrees with her?
0:35.3	Republican Matt Gaetz of Florida.
0:36.3	The fact that you've got populists from the widest ends of the political spectrum coming
0:40.8	together to say, hey, look, why don't we just make a deal in this country that you're
0:44.2	on one side of the other?
0:45.2	You're on the lawmaking side?
0:47.3	Or you participate in the stock market?
0:49.4	And I don't like that.
0:50.4	Bannning stock trades by lawmakers, possibly the one thing uniting the right and the left.
0:55.3	I'm Noel King.
0:56.3	It's today explained.
1:00.3	This episode is brought to you by Slack.
1:03.0	With Slack, you can bring all your people and tools together in one place.
1:07.2	It's your digital HQ where you can increase productivity, enable flexibility and automate
	...

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