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Congress needs to stop day trading, says Senator Mark Warner, a former VC and entrepreneur

1 day ago   |   By Business Insider

Senator Mark Warner of Virginia. SAUL LOEB/POOL/AFP via Getty Images
Big Technology is a newsletter about tech and society by independent journalist Alex Kantrowitz .
Virginia Sen. Mark Warner says members of Congress shouldn't be allowed to trade individual stocks.
He says doing so is a major conflict of interest as members often know of upcoming events that will affect the market.
Mark Warner has a different background than his colleagues in the Senate, one more common in Silicon Valley than Washington's halls. Before Virginians elected him US Senator in 2008, and governor six years...
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Kevin McCarthy reportedly told Republicans in a phone call last year that Trump admitted being partially responsible for the Capitol riot. Now McCarthy says he doesn't remember that call

1 day ago   |   By Business Insider

House Republican Minority Leader Kevin McCarthy. Tom Williams/CQ-Roll Call, Inc via Getty Images
Kevin McCarthy said Trump told him personally that he bore some responsibility for the Capitol riot.
McCarthy made those remarks on a radio show and privately in a phone call with Republicans last year, per CNN.
During a news conference on Thursday, McCarthy said he couldn't recall the phone call.
In the days after January 6, House Minority Leader Kevin McCarthy told Republicans in a private phone call that then-President Donald Trump admitted he shares some responsibility for the Capitol riot...
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Biden's top economic advisor endorses stock-trading ban for members of Congress despite Pelosi's opposition, says it would 'restore faith in our institutions'

1 day ago   |   By Business Insider

Director of the National Economic Council Brian Deese and House Speaker Nancy Pelosi. Anna Moneymaker/Getty Images and Bill Clark/CQ-Roll Call, Inc via Getty Images
Brian Deese, Biden's top economic advisor, endorsed restricting lawmakers' stock trades.
"Anything we can do to restore faith I think makes a lot of sense," he said.
The White House ignored past requests to comment on Insider's "Conflicted Congress" investigation.
A ban on stock trading by members of Congress is "sensible" and would "restore faith in our institutions," says Brian Deese, a top economic advisor to President Joe...
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