The Hill: Biden endorses congressional stock trading ban

[Dennis Donovan]

The Hill - Biden endorses congressional stock trading ban

by Brett Samuels - 12/17/24 1:56 PM ET

President Biden in a new interview published Tuesday said there should be a ban on members of Congress trading stocks, taking a position on an issue that has entered the spotlight in recent years.

“I don’t know how you look your constituents in the eye and know because the job they gave you gave you the inside track to make more money,” Biden said in an interview with Faiz Shakir, a political adviser for Sen. Bernie Sanders (I-Vt.) who founded the media group A More Perfect Union.

“I think we should be changing the law…that nobody in the Congress should be able to make money in the stock market while they’re in the Congress,” Biden said.

Shakir noted in the interview that Biden did not own stock when he was serving as a senator.

A bipartisan group of senators earlier this year unveiled a plan that would ban the president, vice president and members of Congress from buying stocks and a wide range of other financial assets.

/snip

[SheltieLover]

1. Now sign the fucking ERA!

[InstantGratification]

5. The President has no formal role in the amendment process

He can propose them (but the proposal doesn't have to start with him), can cheer lead for or against them, but his signature is not required. Both houses of Congress must pass the proposed amendment by 2/3 majority. If it passes that hurdle, then it goes to the states and 3/4 of the states must ratify it or it fails.

[Alpeduez21]

11. All Biden has to do is ratify it

VA was the 38th state to pass it. It has met all the requirements of Article five to be enacted. It only needs Biden to follow through on his promise to sign it.

[Alpeduez21]

9. Came on here to post the same! n/t

[blm]

2. Good. Dems should press this.

“I think we should be changing the law…that nobody in the Congress should be able to make money in the stock market while they’re in the Congress,” Biden said.
Shakir noted in the interview that Biden did not own stock when he was serving as a senator.
A bipartisan group of senators earlier this year unveiled a plan that would ban the president, vice president and members of Congress from buying stocks and a wide range of other financial assets.

https://thehill.com/homenews/administration/5044669-biden-congressional-stock-trading-ban/

[LittleGirl]

17. Yes! nt

[progressoid]

3. No stock trading while in Congress??

Then why get elected?

[JoseBalow]

10. For that sweet, sweet lobbyist swag

Cha-Ching!

[DeepWinter]

4. HA!

Going to be a lot of pissed off Congress people on both sides of the aisle on this one. Good!

[erronis]

6. Their legal/financial staff will quickly find a way around this minor impediment.

There are very few laws and regulations that can't be overcome with by a wealthy client with good professional help. And most of the congress is wealthy or corrupt and couldn't G.A.S.

[LittleGirl]

8. Nothing personal Dennis

but isn't "The Hill" rather right leaning? I see posts daily from folks quoting them and I don't understand why people keep linking them. I thought it was against the rules?

[TheProle]

12. No

https://www.allsides.com/news-source/hill-media-bias

[druidity33]

14. Ha! Sure...

[Dennis Donovan]

15. Alert on the post. Let a jury decide.

[LittleGirl]

16. I've served enough juries

That I don’t want to cause a misunderstanding, thanks.

[themaguffin]

13. Great, but I'm more concerned by their bigger corruption and, well fascism. Sigh.