Cincinnati congressman sells hundreds of thousands in stocks

US Congressman Greg Landsman and his wife recently sold a substantial amount of stocks to address ongoing concerns about the U.S. trade war and stock market volatility. Although the exact value of their stock sales remains unclear, estimates range between $379,000 and $1.44 million. Landsman’s failure to disclose his trading activities in a timely manner in 2024 violated the 2012 STOCK Act, which requires members of Congress to report transactions exceeding $1,000 within 30 to 45 days.

Several Ohio lawmakers, past and present, including Representatives Warren Davidson, Marcy Kaptur, Steve Chabot, and David Joyce, have also violated the STOCK Act. The primary purpose of the 2012 STOCK Act was to prevent insider trading by members of Congress. These transactions have come under scrutiny as constituents wonder if lawmakers are using their positions to make advantageous trades.

In response to these concerns, Landsman emphasized his commitment to financial transparency by divesting his stocks and co-sponsoring the TRUST in Congress Act. If enacted, this bill would require Congress members and select family members to place investments in blind trusts to prevent conflicts of interest. Landsman’s spokesperson stated that the stock sales were the initial steps towards compliance with the TRUST in Congress Act.

While some constituents may question the sincerity of Landsman’s actions, the intent seems clear as he aligns his personal investments with the proposed legislation. Americans have expressed concerns about Congress’s ability to separate financial interests from legislative responsibilities, with nearly 80% believing that the issue persists.

Landsman’s financial disclosure records reveal that he sold shares in prominent tech companies like Apple, Microsoft, and Nvidia, as well as investments in a defense contractor and tobacco company. Additionally, he recently purchased shares in Amazon, Ameriprise Financial, and Crowdstrike Holdings. Landsman maintains that his disclosure was filed on time and in compliance with legal requirements.

Overall, the congressman’s stock sales reflect a commitment to enhancing financial transparency and avoiding conflicts of interest. By aligning his personal investments with legislative proposals, Landsman seeks to reassure constituents of his integrity and adherence to ethical standards in financial matters.