The 10 top stocks owned by Congress
Lawmakers have millions of dollars invested in these big names.
Maybe this explains the silence: GE is the No. 1 stock investment for members of Congress, with 75 of them holding shares, according to CNBC.
The top GE investors were Republican Rep. Darrell Issa, who was in for at least $1 million, and Democratic Sen. John Kerry, who was holding anywhere from $600,000 to $1.3 million in stock.
Our elected representatives tend to favor well-known blue chip names in their portfolios, choosing tried-and-true stocks over riskier ones. Here's the rest of CNBC's list:
2. Procter & Gamble (PG)
Members invested: 62
Top investor: Republican Rep. Rodney Frelinghuysen of New Jersey, with anywhere from $7 million to $35 million in shares held.
3. Bank of America (BAC)
Members invested: 57
Top investor: Frelinghuysen again, with around $1 million invested.
4. Microsoft (MSFT)
Members invested: 56
Top investor: Kerry, with $1.8 million to $2.55 million invested.
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5. Cisco Systems (CSCO)
Members invested: 56
Top investor: Kerry, with $600,000 to $1.3 million invested.
6. Pfizer (PFE)
Members invested: 51
Top investor: Kerry again, with $752,000 to $1.5 million invested.
7. Intel (INTC)
Members invested: 47
Top investor: I'll give you one guess. Kerry, with $600,000 to $1.3 million invested.
8. Wells Fargo (WFC)
Members invested: 45
Top investor: This is getting ridiculous. Kerry, with $350,000 to $765,000 invested.
9. AT&T (T)
Members invested: 44
Top investor: Kerry with $1.5 million to $2 million invested.
10. Exxon Mobil (XOM)
Members invested: 42
Top investor: Republican Rep. John Carter of Texas, with $1 million to $5 million invested.
"Why aren’t congressional members required to put all of their stock holdings into a blind trust?" asked investing researcher Barry Ritholtz after seeing the list. "Why can’t insider trading by Congressional members be banned? How can elected officials do 'the people’s business' when they are too busy running around trading on the votes they are about to cast?"
Govt. leaders prosper on their votes, should be the title to this story. This country has gone to hell. These crooks are the ones that vote on all sorts of bills, that affect businesses & corporations. Of course, their "above the law" when it comes to insider trading. I used to think latin american countries, as well as asian countries were corrupt. Hugo Chavez is no worse than these crooks we have in Washington. Face it people, most of us don't have a clue or the wherewithal to fight any of this, & they know it. They are fed inside information, they vote on bills before the general public knows the info, & they make millions on that information. Flat out thieves, of course they are "above the law", so that's the way it is.
it's time for OCCUPY WASHINGTON, to start change in this country.
The US CONGRESSIONAL Corruption is so in our faces, all of the time. Any you know what. THE SOLUTION is so in our faces come November 12. Vote them ALL OUT OF BUSINESS.
As bad as tea pot dome or watergate. Any wonder why they don't want to raise taxes on rich.
With 14 million jobs lost forever, housing prices falling till 2015, and $708 trillion in worthless paper money call derivatives. If the Justice Department doesn't get a Special Investigator on this within the week, we also know who gets bribes. You decide what metal is worth more gold or lead.
what would happen if you fed a politician to a carnivore?
they would spit them out and begin to lick their buts,
to get the taste out of their mouths
(a quote from one of my favorite comedians, Ron White)
this explains alot,
and these clowns claim time and time again how their intentions are driven in our favor,
then people justify the prices going up from the corporations named here.
think about this article the next time you buy something,
it doesn't even have to be from just any of these corporations listed here,
there are plenty more that have investments from our "HONEST" (so called elected officials).
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Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
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