Americans lost a lot of money in the stock market in 2022, but that wasn't the case for many in Congress.
Lawmakers from both parties on average found a way to beat the stock market. That's according to a new report by a stock trading watchdog Unusual Whales, which found more than two dozen members came out in the plus column. The report’s findings are raising questions considering Wall Street suffered its worst year since 2008.
“We need to look into it,” Republican National Committeeman Robin Armstrong said. “It seems like an insider trader deal when some of those Republicans had significant gains, and so you just wonder how that happens.”
He believes the problem might stem from too much bureaucracy at the federal level.
Some like Texas Republican Representative Patrick Fallon has denied the report’s claim that he made 51.6% on his investments in 2022, claiming his active stock portfolio lost nearly $600,000.
One of the other big winners in the report was Florida Democrat Debbie Wasserman-Schultz, who made 50.8% on her investments in 2022.