Shortly before the stock market fell off a cliff last month, several members of Congress collectively sold millions of dollars in shares. Senator Richard Burr (R., N.C.) and his wife sold between $628,000 and $1.7 million of stocks—the disclosures show only ranges—on Feb. 13. Senator James Inhofe (R., Okla.) sold between $180,000 and $400,000 of Apple, PayPal, Intuit and other companies on Jan. 27. Members of Congress aren’t allowed to trade on nonpublic information, and if they do, they ought to face the music. It’s politically imprudent for people in Congress to trade actively, and this example shows why.

Source: Wall Street Journal March 22, 2020 23:15 UTC