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.
Congress is the most corrupt organization in the US!
Insider trading by Congress is legal, Lobbyist buy off Congressional staff they stuff the bills with corrupt laws, 2/3rds of Fortune 500 Companies pay no income tax, Ultra wealthy are leaches and pay less in taxes than a person making $30K.
It is just simple math... The pigs are in the trough and looting until the American people throw these Criminals out!
No one goes to jail for the Mortgage meltdown. why! Because members of Congress and everyone who looted the Middle Class was / is in on the Crime! Put at least 90% of the Criminals AKA Congress / Lobbiest and the people that bought Washington isn Jail! Just like with the other organized crime .. Use the Recco Laws and reposses their assets. Washington is now the world's capital of criminal activity!! Democratic and Republican policy mean nothing. The "NEW DEAL is Steal as much as you can as fast as you can!!! The lacies AKA Congress are the doormen! Shame on all of these criminals
I have to respect Ron Paul for investing in gold, the rise in the price of gold only reflects how weak our currency is, along with the rest of the civilized world's.
At least investing in gold isn't contributing to, or participating in crony capitalism in the almighty stock market.
Ron Paul 2012
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