Barry Ritholtz asks: Why isn’t congressional members required to put their holdings into a blind trust? Why can’t we ban insider trading by Congress members be banned? How cat these elected officials do “the people’s business” when they are too busy running around trading on the votes they are about to cast?
How one earth can we ever get fair outcomes of issues involving finance, healthcare, or energy when the members so personally have a monetary stake in an outcome they may or may not be in the public interest? Why aren’t these people in jail?
1. General Electric (GE) Members invested: 75
Total value of holdings (max.): $11.41 million Total value of holdings (min.): $3.58 million
Top Congressional Investors:
Darrell Issa (R.-Calif.) – $1 million to $5 million
John Kerry (D.-Mass.) – $616,004 to $1.315 million
Michael McCaul (R.-Texas) – $400,003 to $850,000
2. Procter & Gamble (PG) Members invested: 62
Total value of holdings (max.): $39.42 million Total value of holdings (min.): $8.72 million
Top Congressional Investors:
Rodney Frelinghuysen (R.-N.J.) – $7.07 million to $35.15 million
Michael McCaul (R.-Texas) – $200,002 to $500,000
James B. Renacci (R.-Ohio) – $180,485 to$222,482
3. Bank of America (BAC) Members invested: 57
Total value of holdings (max.): $5.41 million Total value of holdings (min.): $2.83 million
Top Congressional Investors:
Rodney Frelinghuysen (R.-N.J.) – $1.02 million to $1.08 million
John M. Spratt Jr. (D.-S.C.) – $500,001 to $1 million
Dianne Feinstein (D.-Calif.) – $500,001 to $1 million
4. Microsoft (MSFT) Members invested: 56
Total value of holdings (max.): $6.43 million Total value of holdings (min.): $3.22 million
Top Congressional Investors:
John Kerry (D.-Mass.) – $1.77 million to $2.55 million
Michael McCaul (R.-Texas) – $515,003 to $1.05 million
Jane Harman (D.-Calif.) – $130,003 to $350,000
Read about the rest at http://www.ritholtz.com/blog/2011/11/top-favorite-stock-holdings-of-congress/
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