In 2012, a law passed making “insider trading” illegal for Congress members. That means they can’t trade stocks based on private information they know because of their job in government.
The intention of the law is to ensure an honest government. Only problem? They’re not following it.
A recent investigation exposed several members violating the law: “Numerous members of Congress personally invest in industries they oversee,” reports Business Insider. Even worse? “Few face serious consequences, legally or otherwise.”
These government officials not only set policies that affect the stock market, but they also get insider information regular people just don’t have access to. And it looks like they have no intention of stopping.
Several members of both major parties have refused to speak against this corruption – because it benefits them!
Speaker of the House Nancy Pelosi recently spoke out against any possible reform to this law. “We are a free-market economy. [Congresspeople] should be able to participate in that.”
That so many are breaking these laws, without consequences, further contributes to our distrust of democracy. How can we expect lawmakers to ethically govern if they’re proven to be law-breakers?
These Congress members act like they’re above the law – because they are. They’re not being held accountable. The whole debacle shows a truth: the economy is rigged to help the rich and powerful, at the expense of everyone else!