U.S. Representatives Buy $100 Million in Securities During 2020

U.S. Representatives Buy $100 Million in Securities During 2020

A report from the analytics company Unusual Whales uncovered interesting data with respect to how U.S. Representatives enriched themselves through the stock market from 2020- 2021. In 2020, the U.S. House of Representatives purchased more than $100 million in securities. 

It was reported that members of Congress were buying up shares in the largest monopolies and technology growth companies such as Microsoft, Amazon, Salesforce, Netflix and Paypal. 

The largest purchaser of shares in 2020 was Democrat Nancy Pelosi who recently stated “We’re capitalists, and that’s just the way it is”.

Members of Congress were also able to profit based on real-world events such as the coronavirus pandemic. For example, former Congressman Greg Gianforte purchased up to $1 million in GlaxoSmithKline who signed a contract with the U.S government through Operation Warp Speed. 

As we can see, members of Congress are able to reap massive gains from their position as capitalists and defenders of the capitalist mode of production. While claiming to represent the interests of the mass of working people, the members of Congress in actuality support the interests of the capitalists and landlords, in other words the oligarchs.

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