Zinger Key Points
- AOC teams up with Jon Stewart to blast congressional insider trading, spotlighting Democratic dissonance.
- Calls for a stock trading ban for lawmakers gain momentum as public figures criticize the status quo.
- Get Wall Street's Hottest Chart Every Morning
Rep. Alexandria Ocasio-Cortez (D-N.Y.) publicly denounced the stock trading activities of lawmakers, pointing out an apparent inconsistency among Democrats.
What Happened: Ocasio-Cortez and Jon Stewart voiced their disapproval of Congress members owning and trading stocks during a conversation on Stewart’s “The Weekly Show” podcast on Friday.
During the podcast, Ocasio-Cortez highlighted what she sees as a “hypocrisy” within her own party regarding this issue.
According to Ocasio-Cortez, Democrats need to ensure their actions align with their words, and she pointed to insider trading in Congress as a stark example of this hypocrisy.
"There needs to be Democrats who walk the walk and talk the talk. There is an insane amount of hypocrisy, and the hypocrisy is what gets exploited to use the cynicism and wherever there's a hypocritical window. For example, I think one of the most biggest examples of this is insider trading in Congress," Ocasio-Cortez said.
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"It's so crazy. I mean, like, it's the end of the thing. Like, people think that everyday people are stupid. I'm like, ‘Do you all really think that people don't see this s***?’" Ocasio-Cortez added.
Stewart agreed with her, noting that the positions lawmakers hold on committees give them access to insider information that could potentially enhance their trading portfolios.
"And then we're supposed to act like money only corrupts Republicans?" Ocasio-Cortez said.
Both Ocasio-Cortez and Stewart took issue with the idea that the public is unaware of these practices. Their remarks come in the wake of increasing demands for a prohibition on lawmakers trading stocks.
Why It Matters: The issue of lawmakers trading stocks has been a contentious topic for some time. Critics argue that it creates a conflict of interest and provides an unfair advantage to those in power.
The recent comments by Ocasio-Cortez and Stewart bring this issue back into the spotlight, potentially prompting further discussion and action on the matter.
As public figures with significant influence, their stance could sway public opinion and pressure lawmakers to reconsider their position on this issue.
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