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Trading places: Some progressive lawmakers who push for stock bans are the real wolves of Wall Street
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New York Post
Socialist ‘Squad’ Rep. Alexandria Ocasio-Cortez (D-NY) routinely rails about congressional colleagues trading stocks — yet nearly one in four of her progressive comrades in Congress are wolves of Wall Street, a Post analysis found.
6 Kentucky lawmaker Morgan McGarvey made a 106% haul on his stock portfolio in 2024 — but touts himself as a voice of the working class.
REUTERS“It doesn’t mean that they don’t make phone calls,” said Michael Auerbach, founder of Subversive ETFs, index funds that track lawmakers’ trades.
Some of the holdings in his $436,000 stock portfolio include biotech company Thermo Fisher Scientific.
“It should be illegal for lawmakers to day trade stocks, especially in industries where they can influence outcomes,” said Auerbach.