As I am sure most of our readers know, the last two weeks of the market have been a bit of an adventure, to say the least.
After Trump told everyone that “this is a great time to buy” and Dems started talking about insider trading, Rep. Marjorie Taylor Greene (R-GA) started to brag about her stock purchases.
Trump’s tariff wars recently caused the market to take a massive dip over several days, which was to be expected as tariffs always make investors wary.
Trump was trying to create some confidence in the market, so he did what he does, posting on social media for people to calm down and possibly even get in there to make some money.
Trump stated, “BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!”
Just a few minutes later, he followed that announcement up by posting, “THIS IS A GREAT TIME TO BUY!!! DJT”
Democrats are always looking to stir something up, and they looked at Trump’s tariff wars and the flurry of activity in the market to accuse Republicans of insider trading.
Rep. Hakeem Jeffries (D-N.Y.) was among the first to accuse Republicans of insider trading, and then a group of Democratic senators made allegations.
Senators Chuck Schumer (D-N.Y.), Elizabeth Warren (D-MA), Mark Kelly (D-AZ), Ruben Gallego (D-AZ), Adam Schiff (D-CA), and Ron Wyden (D-OR) penned a letter to SEC Chair Paul Atkins, stating, “It is unconscionable that as American families are concerned about their financial security during this economic crisis entirely manufactured by the President, insiders may have actively profited from the market volatility and potentially perpetrated financial fraud on the American public.”
Mind you, reports have shown that members on both sides of the aisle have been trading feverishly during that trade war, yet Democrats want to pretend only Republicans are taking advantage of this.
With so much attention being focused on the market right now, the last thing you would think anyone with common sense would do would be to poke the bear and add fuel to the allegations by bragging about their stock purchases, but that is what Greene did.
Greene reportedly loaded up on Amazon, Apple, Dell Computer, Lululemon, Nike, and Restoration Hardware. This was reported by the media, of course, to which she responded, “After many successful years of running my own business, I ran for Congress to bring that mindset to Washington. Now that I’m proudly serving the people of Northwest Georgia, I have signed a fiduciary agreement to allow my financial advisor to control my investments. All of my investments are reported with full transparency. I refuse to hide my stock trades in a blind trust like many others do.”
I know she is not alone in making these trades, but considering how close she is to Trump, Dems will use this to say that something nefarious was going on. After all, the media is focusing on the purchases by Republicans while ignoring purchases Democrats made at the same time, such as Rep. Ro Khanna (D-CA), who has pages of trades over the first few months of the year, including having recently sold off a considerable amount of his stock in Steel Dynamics on the day the tariffs were being announced.
This is exactly why members of Congress should not be able to trade individual stocks. Even a few minutes notice can make a big difference when it comes to having a winning or losing trade, and they clearly have access to information the average person does not. Just be smart about it, and don’t add fuel the fire when you know you are under the microscope. Now, you better believe the Dems will use Greene’s trades to say that Trump was doing this on purpose to make his friends rich.
