OPINION:
As a voter, I never thought being in Congress, a form of public service, was the gateway to becoming a millionaire (“True politician Marjorie Taylor Greene takes the money and runs,” Web, Nov. 26). However, the net worth of the outgoing “MTG” was $700,000 when she was elected in 2021, and it has since skyrocketed to $25 million.
I think most voters, including me, would like to know how. I can’t think of any job besides being in Congress where you can become a millionaire without producing anything.
I assume congressional members hope voters don’t know about what seems to be insider trading activity. I had to use my personal time to research the subject, which I think most people lack the time or understanding to do. The number of members of Congress apparently participating in this sort of thing was shocking.
I understand that members have the right to have stock portfolios, but this type of massive trading requires savvy expertise and a lot of time. I know of one member who started as a congressional intern and, since being elected, has become a millionaire. If I understand correctly how Wall Street works, it seems impossible that any of these elected politicians would have the time to make the volumes of trades publicly recorded and still effectively serve in Congress. Some of it seems to require access to privileged information, such as federal economic policies and government investments in federal/private partnerships. On the streets, it’s called insider trading, and it’s unlawful.
Congress recently held hearings to update rules prohibiting Wall Street investors from using congressional access policies on behalf of members of Congress. Additionally, there are regulations, including those addressing ethical violations, for such activity.
I sincerely believe that most members of Congress started with the best intentions of ethics and integrity, but once arriving and learning how to manipulate their access to key information, many fall for the temptation, and ethics go out the door.
Maybe this is why it’s called “the swamp” and the public’s trust in government is at an all-time low.
GREG RALEIGH
Washington
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