INSIDER Trading Scandal Rocks Congressman

A Long Island congressman quietly crushed the stock market in 2024, posting returns that would make Wall Street’s finest weep with envy—and raising uncomfortable questions about how our elected officials consistently beat professional investors at their own game.

Story Highlights

Rep. Tom Suozzi achieved a 62.7% stock return in 2024, more than doubling the S&P 500’s 24.9% gain
Over 20 Congress members nearly doubled market performance, with five lawmakers posting 100%+ gains
Tech stocks dominated Democratic portfolios at 49%, while Republicans allocated just 15% to the sector
Bipartisan reform bills to ban congressional stock trading remain stalled despite overwhelming public support

The Suozzi Surge Reveals a Troubling Pattern

Rep. Thomas Suozzi’s portfolio performance places him among Congress’s investment elite, though he didn’t crack the top five. Representatives David Rouzer, Debbie Wasserman Schultz, Ron Wyden, Roger Williams, and Morgan McGarvey each exceeded 100% returns. These aren’t lucky streaks—they represent a systematic pattern of lawmakers outperforming markets with suspicious consistency.

The data comes from Unusual Whales, which tracks Periodic Transaction Reports filed by Congress members and their families. Former Speaker Nancy Pelosi, long criticized for her trading prowess, posted a 71% return attributed to her husband Paul’s transactions. A spokesperson emphasized that Pelosi “does not own any stocks” and has “no prior knowledge or subsequent involvement in any transactions.”

When Committee Assignments Meet Investment Opportunities

The timing of some trades raises eyebrows. Representative Wasserman Schultz purchased shares of satellite operator Viasat in October 2024 while serving on the House Appropriations Subcommittee on military construction. Viasat has received over $2.7 billion in government contracts over five years, and the stock jumped 41% since her purchase.

This exemplifies the core problem: lawmakers sit on committees overseeing industries where they simultaneously hold investments. They receive briefings, hear testimony, and vote on legislation that directly impacts their portfolio companies. The informational advantages are undeniable, even if legal under current rules.

Reform Efforts Stuck in Legislative Quicksand

Multiple bipartisan bills have proposed banning individual stock trading by Congress members since 2022, yet none have reached a floor vote. A bipartisan Senate group introduced legislation barring lawmakers, spouses, and dependent children from buying stocks. The proposal sits dormant, despite polling showing overwhelming public support for such restrictions.

Even Pelosi reversed her previous position defending lawmakers’ trading rights, now advocating for bans extending to the judiciary. This evolution reflects growing recognition that the current system undermines public trust. When elected officials consistently outperform professional fund managers, questions about fairness become unavoidable.

The Methodology Debate and Missing Accountability

Critics challenge how these returns are calculated. Rep. Rouzer’s chief of staff argued that tracking unrealized gains “creates a deceptive view of reality,” noting many gains came from long-held positions rather than active trading. This criticism highlights legitimate concerns about distinguishing between shrewd timing and passive appreciation.

However, the broader pattern remains troubling regardless of methodology. Whether through active trading or strategic long-term holdings, lawmakers demonstrate investment success rates that ordinary Americans cannot match. The concentration in tech stocks—49% of Democratic investments versus 15% for Republicans—suggests political affiliations may influence sector preferences, potentially creating market distortions.