Over $350 Million Worth of Stocks were Bought and Sold by US Lawmakers in 2021
A record $355 million worth of stocks were purchased and sold by members of Congress in 2021, not only for creating legislation but also for personal financial transactions.
MarketWatch analyzed stock transaction disclosure data provided by Capitol Trades and showed that representatives and senators or their family members bought and sold around $180 million and $175 million of company shares in 2021.
Among the top ten representatives in terms of the total amount transacted, all purchases and sales to date were made by House members, with the first senator ranked in 12th place.
Rep. Michael McCaul (R-Texas) traded stock at the highest overall dollar value - so the sum of both purchases and sales - with money totaling around $66 million, comprising $35 million in stock deals and $31 million in stock purchases.
Rep. Ro Khanna (D-Calif.) was close behind McCaul, with a transacted volume estimated at $53 million, including some $19 million in sales and $34 million in purchases.
As lawmakers have been accused of using privileged information to gain an edge on markets, their stock trading has been scrutinized and criticized throughout the years.
1st Feb 2022