Investors soon could have a way to bet on the stock-picking skills of U.S. lawmakers, as a regulatory filing on Thursday has outlined a plan for two new ETFs that would track congressional buys and sells.
The House still could act on the issue, with Speaker Nancy Pelosi saying on Wednesday that a bill could be brought to her chamber’s floor this month. However, any legislation would need the Senate’s OK before President Joe Biden could sign it into law. The other ETF would have the ticker KRUZ and would track the equities held by Republican lawmakers or their spouses, the filing said. That ticker is a reference to GOP Sen. Ted Cruz of Texas, according to Unusual Whales. Cruz appears to have made only two trades in the past three years, according to Capitol Trades data, and he reportedly has considered introducing his own bill that would ban congressional buying and selling of stocks.
Stock trades reported by nearly a fifth of Congress showed possible conflicts, according to a New York Times report on Tuesday that covered buy and sells from the years 2019 to 2021.
Ooorrr, stop watching TikTok and read bills via the government website 😒
Nooooo. They need to ban trading for these folks. And for anyone that works with them. Or talks to them. Why is it so hard to see the obvious?
She is back on now 😍
TheOnion
😄 This just keeps getting better
How bout one betting on Russia Ukraine conflicts? 🇺🇸🎃
unusual_whales
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