Revealed: How U.S. Senators Invest in the Firms They’re Supposed to Regulate (Sludge/The Guardian)
As they legislate on important matters, over 50 senators enjoy investments in major communications, defense, finance, energy, and health companies that Congress oversees.
This article was produced in partnership with The Guardian.
As they set national policy on important issues such as climate change, tech monopolies, medical debt, and income inequality, U.S. senators have glaring conflicts of interest.
A Sludge analysis of personal financial disclosure data as of Aug. 16 has found that 51 senators and their spouses have as much as $96 million personally invested in corporate stocks in five key sectors: communications/electronics; defense; energy and natural resources; finance, insurance and real estate; and health. The majority of these stocks come from public companies, and some are private.
Overall, the senators are invested in 338 companies—including tech giants such as Apple and Microsoft, oil and gas giants including ExxonMobil and Antero Midstream, telecom companies including Verizon, and major defense contractors such as Boeing—in the five sectors as categorized by Sludge.