Republican Criticizes Legislation Banning Lawmakers from Trading Stocks
During a recent interview, Rep. Dan Crenshaw from Texas voiced his skepticism about a proposed bill to ban lawmakers from trading stocks. Initially, he jokingly dismissed the idea, suggesting that maybe they should just stop making money altogether. However, as the conversation unfolded, he eventually admitted that he would support the ban.
When asked about his stance on the Prohibit Insider Trading Act, sponsored by Rep. Zachary Nunn from Iowa, Crenshaw expressed his frustration, labeling it as the 1,000th item on his priority list. He highlighted that despite having a modest $20,000 invested in the stock market, he has faced unwarranted scrutiny over allegations of insider trading.
Crenshaw also revealed that his lawyer had to intervene after being falsely accused of insider trading on a news program, emphasizing that such accusations were baseless. While acknowledging that there may be instances where the bill is warranted, such as Nancy Pelosi’s trading activities, he struggled to identify other lawmakers who would fall under its scope.
Reflecting on the implications of the proposed ban, Crenshaw humorously suggested that Congress might become a playground solely for millionaires if enacted. Despite his initial resistance, he concluded by affirming that he would ultimately vote in favor of the ban, shrugging off its personal impact due to his relatively modest financial standing.
In essence, Crenshaw’s candid remarks shed light on the complexities surrounding stock trading within the realm of politics, emphasizing the need for transparency and accountability among elected officials.
