US/Congress

US/Congress
Parent organization	US
Type	legal
Subgroups	•  United States House of Representatives •  United States Senate •  Government Accountability Office •  Library of Congress •  Congressional Research Service •  Congressional Budget Office
Staff	Senate
Subpage	•US/Congress/Corruption

Official Narrative

Insider Trading And Congress: How Lawmakers Get Rich From The Stock Market

Article I of the US Constitution states "all legislative powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and a House of Representatives." The constitution grants each chamber some unique powers, but requires that both chambers agree on legislation to be enacted.

Function

Ivo Mosley wrote that around the start of the 19th century that “Congress became, and has remained, a forum for the interests and advancement of business. The dominant ethic and the creed of power in America is that the interests of business are the interests of the nation.”

Structure

Congress is split into two chambers, the House and the Senate. It writes national legislation by dividing work into special committees. Some members of Congress are elected by their peers to be officers of these committees. Lobbyists seem to do a lot of writing of legislation nowadays.

“It could probably be shown by facts and figures that there is no distinctly native American criminal class except Congress.”
 (1894) 

War Authorisation

The US Constitution gives Congress the exclusive power to declare war. Notwithstanding this fact, presidents have been quite capable of initializing hostlities without seeking congressional approval.

In 1970, Time magazine noted: "All told, it has been calculated, U.S. presidents have ordered troops into position or action without a formal congressional declaration a total of 149 times" before 1970.

In 1990 George H. W. Bush claimed he could attack Iraq and launch a "deliberate, unhurried, post-Cold War decision to start a war" without needing approval from the US Congress, prompting one a write for Time magazine to note that "Congress's war power has become the most flagrantly disregarded provision in the Constitution," and that the "real erosion (of Congressional authority to declare war) began after World War II."

Investigations

Vince Foster's Death

The US Congress concluded that the death of Vince Foster was a suicide.

Insider Trading

While lawmakers who violate the STOCK Act regarding Insider traging face a fine, the penalty is usually small — $200 is the standard amount — or waived by House or Senate ethics officials. On Capitol Hill, lawmakers seriously debated such a ban in 2023, but US Democrats blocked and killed the bill.

At least 97 members of Congress bought or sold stock, bonds or other financial assets that intersected with their congressional work from 2019 to 2021, They also reported similar transactions by their spouse or a dependent child, an analysis by The New York Times has found. When contacted, many of the lawmakers said the trades they reported had been "carried out independently" by a spouse or a broker with no input from them.

Nancy Pelosi

Paul Pelosi, the wealthy spouse of former House Speaker and current Representative Nancy Pelosi, a Democrat from California, divested 30,000 shares of Google stock a month prior to the Department of Justice's declaration of an antitrust lawsuit against the tech giant, as per a financial disclosure submitted to the US House of Representatives. Pelosi disclosed the sale of Google stock in three separate transactions between December 20 and December 28, 2022. Each of these transactions involved the sell of 10,000 shares of stock in Alphabet Inc., Google's parent corporation. The Periodic Transaction Report filed with the House states that each transaction encompassed an amount ranging from $500,001 to $1,000,000 and resulted in capital gains exceeding $200, though the exact profit amount remains unclear. Taken together, these trades involved 30,000 shares and assets valued between $1.5 million and $3 million.

Dianne Feinstein

According to a Business Insider article from 2021, Senator Diane Feinstein reported stock purchases in a biotech company called Allogene Therapeutics in January 2020. The purchases were reportedly made by her husband, Richard Blum, and the disclosed amount was between $50,000 and $100,000. The article highlights that the stock price of Allogene Therapeutics increased significantly after the purchases.

 

Related Quotations

Page	Quote	Author	Date
Plutocracy	“The United States is not a democracy, it is a plutocracy. The people don’t rule in the United States. Wealth rules, the corporations rule. They rule the Congress, they elect the president, they run the Pentagon. They own the media, which are the voices of the plutocracy.”	Ramsey Clark
Statecraft	“The financial frauds conducted by The Enterprise were designed to implicate, enrich and entrap a huge swath of the political class in DC. Fraudulent securities or oil and gas deals were offered to friends to enrich them and enemies to entrap them. In some cases, enemies were suckered in with easy profits on small investments only to be bankrupted when larger fraudulent investments imploded. By the time that the Iran Contra scandal made the headlines, such a large number of congressmen and DC insiders were implicated that any attempt to expose the scale of the scandal would have resulted in a near wholesale implication of the political class. In many ways, this endemic corruption is what makes political reform in Washington so difficult, the level of corruption is so pervasive that the political class has no choice but to cover for each other’s crimes or risk mutually assured destruction.”	Mark Gorton	22 November 2013
US/Deep state	“I have come to see that today's Congress itself is dominated by the deep state powers that profit from what I have called "America's Global War Machine." These so-called "statesmen" of America are as dedicated to the preservation of American dominance as were their British predecessors [a century ago].”	Peter Dale Scott	2015

 

Job here

Event	Job	Appointed	End
John Maury	CIA's Congressional liaison	1968	1974

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References

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