Rep. Dan Crenshaw expressed his lack of concern over Congress stock trading restrictions, stating it's low on his priority list and claimed he's been defamed by media insinuations of insider trading, arguing that lawmakers have minimal relevant information regarding stocks.
He highlighted that while some lawmakers, like Nancy Pelosi, have faced scrutiny for their trading patterns, he personally has little investment in the stock market and dismisses the accusations of insider trading directed at him.
The bipartisan support for the proposed ban on stock trading among Congress members stems from ethical concerns arising after the 2009 financial crisis, raising questions regarding lawmakers potentially profiting from privileged information.
Lawmakers can face legal repercussions for insider trading, but there is a push for enhanced transparency regarding their investment activities, which this new legislation aims to address.
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