Have We Strayed From ‘We the People’?

Has the United States drifted from the founding principles embodied in “We the People”? Political corruption appears so pervasive that it risks becoming normalized within the system. Recent scandals have cast doubt on the integrity of elected officials, raising concerns about whether they truly serve the public or are driven by personal financial gain. Politicians from both major parties have been accused of using their positions to benefit from well-timed stock trades. Can we trust that the people we elect are acting in the nation’s best interests when the evidence suggests otherwise?

Are Politicians Abusing Privilege?

One of the most high-profile examples is Senator Dianne Feinstein. During the 2020 congressional insider trading scandal, Feinstein came under investigation, not due to her direct involvement, but because of biotech stock sales made by her husband, Richard Blum, just before the market collapse caused by the COVID-19 pandemic. While Feinstein maintained she had no part in the transactions, the timing raised public concerns about transparency and accountability. Although the Department of Justice closed the investigation without filing charges, how can such actions not erode trust in the integrity of those in power?

Similarly, Senator Richard Burr, then-chairman of the Senate Intelligence Committee, sold up to $1.7 million in stocks after receiving classified briefings on the potential economic impact of COVID-19. While Burr was cleared of criminal charges after an investigation, the optics of the situation sparked intense public scrutiny. How can we believe in the impartiality of our lawmakers when such actions suggest personal gain might come before public service?

In contrast, Christopher Collins, a former Republican congressman, faced full legal consequences for insider trading. Collins was convicted in 2020 and sentenced to 26 months in prison for tipping off his son about the failure of a drug trial. Unlike Burr and Feinstein, Collins’ actions led to clear judicial outcomes. Showing that corruption can sometimes be punished, though many still slip through the cracks.

Can Apps Track Corruption?

In recent years, platforms like Capitol Trades and Unusual Whales have emerged to track the financial disclosures of politicians, allowing the public to mimic their trades. These apps raise fundamental questions about transparency. While they enable ordinary citizens to follow the trades of their elected officials, shouldn’t the very existence of such tools prompt us to question the ethical standards of those in power? If our political system was built on integrity, would we need apps to help track lawmakers’ financial activities? Are these tools helping to expose corruption or simply highlighting how entrenched it has become?

The STOCK Act: Is It Enough?

In 2012, the STOCK Act was introduced to increase transparency and curb insider trading among lawmakers. Yet, its effectiveness has been questionable at best. While it requires timely disclosure of stock trades by politicians, many lawmakers fail to comply, and enforcement has been lax. Despite the existence of the STOCK Act, scandals like those involving Feinstein and Burr continue to surface, making it clear that the law has not gone far enough in addressing the ethical dilemmas surrounding insider trading.

Will Reform Ever Come?

If politicians continue to benefit from insider information while writing the laws that govern the public, the question remains: Where will meaningful reform emerge? It is unclear whether the system can police itself or if transformative change must be driven by the electorate. The onus may lie on voters to hold their representatives accountable and demand the reforms necessary to restore trust in government. Until then, the specter of corruption will continue to loom large over American politics.

“In a democracy built on public trust, can we afford to accept anything less than full integrity from those we elect to lead?”

Sources

1. [NPR: DOJ Closes Insider Trading Probes Into Senators](https://www.npr.org/2020/05/26/861940986/doj-closes-insider-trading-probes-into-senators)
2. [CNN: DOJ Ends Investigation Into Senators](https://edition.cnn.com/2020/05/26/politics/dianne-feinstein-stock-trades-doj/)
3. [NYT: Richard Burr Investigation](https://www.nytimes.com/2020/05/26/us/politics/richard-burr-investigation.html)
4. [DOJ: Christopher Collins Sentencing](https://www.justice.gov/usao-sdny/pr/former-congressman-christopher-collins-sentenced-insider-trading-scheme-and-lying-federal)
5. [Business Insider: Congress Trading](https://www.businessinsider.com/congress-politician-stock-trading-tracking-websites-unusual-whales-wallstreetbets-2022-1)
6. [Finbold: Apps Track Insider Trades](https://finbold.com/monster-congress-insider-trading-alert-as-politician-buys-480k-worth-of-stocks/)
7. [NPR: The STOCK Act’s Failures](https://www.npr.org/2021/12/17/1065244892/congress-stock-act-investigation-lawmakers-investments)
8. 8. [NYT: Stock Act Ineffectiveness](https://www.nytimes.com/2022/10/06/us/politics/congress-stock