Senator Tommy Tuberville of Alabama has financial interests in wheat, corn, soy, and cattle while sitting on a committee that formulates agriculture policy. The Senator has a seat on the Senate Committee for Agriculture, Nutrition, and Forestry and has reported several agricultural trades over the past few months.
Unusual Whales, a data hub dedicated to exposing conflicts of interest and insider trading, revealed Tuberville’s agricultural interests and said, “He literally influences agricultural futures via legislation and is trading it actively.”
Mr. Tuberville has a history in this regard. In 2021, according to Unusual Whales, he “failed to properly disclose trades worth more than $1 million on time,” violating federal law.
Unusual Whales posted their findings to Twitter and received several noteworthy responses. One poster said, “It is not only him. Members of Congress have inside knowledge of transpiring trends in the stock market.”
A survey by the University of Maryland in July revealed that the American public is unhappy at the prospect of their politicians getting rich on the backs of their elected positions. The poll found that overwhelming majorities from across the political sphere support a complete ban on stock trading in individual companies by Members of Congress. This included 86% of Republican respondents, 90% of Democrats, and 82% of independents.
Also in July, Sens. Kirsten Gillibrand (D-N.Y.) and Josh Hawley (R-Mo.) introduced the Ban Stock Trading for Government Officials Act to Congress. The legislation would prevent political leaders in Washington from owning or trading any stocks, including blind trusts. The two Senators issued a press release saying they were following the wishes of the majority of the American public in holding their fellow lawmakers to account and shining a light on their activities in the name of transparency.
Senator Gillibrand said sunlight is the best disinfectant, and “It is critical that the American people know that their elected leaders are putting the public first – not looking for ways to line their own pockets.”
