Potential conflict of interest
The lawmaker’s suspected bet against the U.S. economy comes at a time when the Nasdaq 100 Index is up 42% year-to-date — thanks largely to strong performances by technology stocks, particularly those with an interest in artificial intelligence.
Carper’s position on the inverse ETF has been called out by CongressTrading on X.com (formerly known as Twitter) as a potential conflict of interest.
The watchdog group posted: “Senator Carper reports shorting (betting against) the American economy in his stock portfolio. So now is he incentivized to pass laws to ruin the economy so he makes money?”
Attempts to ban congressional stock trading
Public scrutiny of congressional stock trading has intensified in recent years, with politicians being accused of using their connections and insider information to score winning deals.
A new bipartisan law was proposed in late July, which would ban members of Congress and the federal executive branch — including the president — from owning or trading stocks, even in blind trusts.
Kiss Your Credit Card Debt Goodbye
Millions of Americans are struggling to crawl out of debt in the face of record-high interest rates. A personal loan offers lower interest rates and fixed payments, making it a smart choice to consolidate high-interest credit card debt. It helps save money, simplifies payments, and accelerates debt payoff. Credible is a free online service that shows you the best lending options to pay off your credit card debt fast — and save a ton in interest.