How often are lawmakers trading stocks of companies with a vested interest in the very legislation they over see? Pretty often, a new Washington Post analysis of OpenSecrets.org data and other records finds. Almost one in eight trades made by Congress between 2007 and 2010 intersected with legislation that could impact that company.
One-hundred-thirty members of Congress or their families have traded stocks collectively worth hundreds of millions of dollars in companies lobbying on bills that came before their committees, a practice that is permitted under current ethics rules, a Washington Post analysis has found.
The lawmakers bought and sold a total of between $85 million and $218 million in 323 companies registered to lobby on legislation that appeared before them, according to an examination of all 45,000 individual congressional stock transactions contained in computerized financial disclosure data from 2007 to 2010.