Senate Stock Market Tycoons

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White House and Senate agreed to a $2 trillion stimulus deal for the economy. And the economy likes it. The Dow shot up 11% for its best day since 1933.

Speaking of stocks and Senators, some senators dumped stocks just before Corona virus market meltdown.

Senate Stock Market Tycoons

Here’s Professor Jonathan Turley writing in The Hill:

Senators Richard Burr, Kelly Loeffler, James Inhofe, and Dianne Feinstein together are responsible for as much as $11 million in recent stock sales. It turns out that many lawmakers become market investment geniuses after they enter Congress. A University of Memphis study found that 75 percent of randomly selected members had made “stock transactions that directly coincided with legislative activity.” A Georgia State University study noted that, from 1993 to 1998, senators beat the stock market by 12 points with their portfolios and outperformed “corporate insiders” by 8 points.

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