Congressional Members Sell Bank Stocks Amid Financial Crisis Fears
Several members of Congress or their close relatives sold bank equities last month as fears of a financial crisis spread in the wake of Silicon Valley Bank's collapse. The suspiciously well-timed transactions came a day after Sen. Jeff Merkley (D-Ore.) led a group of House and Senate members in introducing the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act, legislation that would prohibit members of Congress, their spouses, and their dependent children from trading individual stocks.