As a liberal, I’ve had numerous discussions about how to improve an underperforming parliament.
It’s easy to get defensive and dismiss criticisms as Whataboutism. But while it’s valid to critique Republicans for being oligarch-friendly, it feels a bit hypocritical to overlook that Democrats are, in many ways, just as entrenched in wealth. Sure, the Republican might be a cartoon cat, but the Democrat isn’t far behind.
Now, as Democrats glance at polling figures, there’s a temptation to indulge in optimistic fantasies for the upcoming midterms. But it’s crucial they take a hard look at their own approval ratings. President Trump’s poor numbers don’t magically improve how people feel about Democrats. The truth is, when it comes to managing a corruption-free government, Democrats aren’t exactly leading the charge. One significant stumbling block? Stock trading.
Transactions involving stocks by Congress members should be outlawed or at least managed through blind trusts. A large majority of Americans think so. In our often-divided times, this concern shows remarkable unity—and rightly so.
People feel that Senators and lawmakers are more focused on their own stock portfolios rather than genuinely protecting American interests. I recall being told years ago that Nancy Pelosi’s stock portfolio was outperforming even Warren Buffett’s. It seemed absurd at the time, but, oddly enough, it’s true. Her investments (managed by her husband) reportedly yield returns that overshadow those of most hedge funds on Wall Street.
You could potentially follow her trading track record to bolster your retirement fund too. But that’s something Democrats often avoid confronting. When they ponder why disillusioned voters turn to populists like Trump, they might want to look in the mirror.
Take Luigi Mangioni’s arrest for allegedly murdering the CEO of United Healthcare. Many politicians revealed their biases against private insurance. Still, isn’t it curious that numerous lawmakers, from Senator Markwayne Mullin (R-Okla.) to Rep. Ro Khanna (D-Calif.), owned stocks in United Healthcare? I know many constituents wrestling with the issues private healthcare causes. Shouldn’t I question whether they’re hesitant to push for change if it benefits their financial interests?
United Healthcare spends millions on lobbying, funneling money into political campaigns to safeguard its agendas. Certainly, there’s an argument to be made that Congress members should steer clear of lobbyist funds and corporate donations, but they can tackle that later. Right now, Democrats can put Republicans in a tough spot while simultaneously doing something that would resonate positively with the public.
While it’s unlikely that Congress will ban stock trading outright, a wise strategy for Democrats to strengthen their position in the midterms and build trust for 2028 would be to morally elevate themselves. All Democrat members could voluntarily place their investments in blind trusts.
Back in the 2012 Republican primary, Newt Gingrich challenged Mitt Romney, pointing out his investments in entities like Fannie Mae while American families struggled during the housing crisis. Romney defended himself by saying his investments were in a blind trust, challenging Gingrich for making similar choices. It was a pivotal moment that highlighted how wealthy individuals can assert they’re capable of governing without feathering their own nests.
This should be common sense, yet Democrats who should be stepping forward seem to avoid taking the lead. President Biden only stepped up to endorse a stock trading ban after Trump had won in December 2024. So, what was the point?
House minority leader Hakeem Jeffries (D-N.Y.) has a chance to take action here. Since 2021, he hasn’t engaged in stock trading, and he could spearhead an initiative for all Democrats to place their portfolios in trustees or liquidate them. This move could provide them with a moral high ground as they go after Trump leading up to November 2026.
As a Marine Corps veteran, I can’t help but echo the sentiments of Smedley Butler, who, after years of service, remarked that he felt like a muscle man for Wall Street and corporate interests. I find myself pondering this as a veteran of the Iraq War. Current Republican proposals for defense spending reach $1 trillion; one must wonder which Congress members have stakes in the most lucrative military contractors.
If Democrats genuinely wish to regain the trust of the public, a solid first step would be to distinguish themselves from Trump and the Republicans by ceasing stock trading or investing via blind trust. Their political future hinges on such decisions.
