“Bought the Dip”: Stock Trades, Tariffs, and the Growing Revolt Over Corruption in Congress

It began, as many modern political scandals do, with a well-timed stock trade and an even better-timed press leak.

On Monday morning, The New York Times reported that Rep. Marjorie Taylor Greene (R-Ga.), one of the most visible members of Congress and a vocal supporter of President Trump, made a series of stock trades on April 8 and April 9—just days before Trump announced a global tariff pause that sent financial markets surging.

Among the trades disclosed: purchases worth between $21,000 and $315,000 across industries vulnerable to tariff volatility, and the sale of U.S. Treasury securities worth up to $100,000.

The implication was clear: Greene may have had advance knowledge of Trump’s tariff announcement and used it to profit. While Greene’s office did not respond to multiple requests for comment, the political fallout was swift and ferocious.

House Minority Leader Hakeem Jeffries (D-N.Y.), not known for rhetorical restraint when it comes to Republican colleagues, let loose during an interview Monday night with MSNBC’s Jen Psaki.

“So many of these people are crooks, liars and frauds,” Jeffries said. “And Marjorie Taylor Greene is, of course, Exhibit A.”

Jeffries added that Democrats in both chambers would soon introduce legislation to ban congressional stock trading altogether. “We need to change the law so that sitting members of Congress cannot trade stock, period. Full stop.”

The idea of a stock trading ban for lawmakers is not new. It has bipartisan support and a recent history of legislative flirtation, with versions of the ban proposed—and then shelved—multiple times over the last five years.

But with the return of Trump-era market chaos, a surge in retail investor activity, and high-profile accusations of insider trading, momentum may finally be shifting.

“We’re watching corruption unfold in real time,” Jeffries added. “This is not a gray area anymore. It’s black and white.”

Rep. Alexandria Ocasio-Cortez (D-N.Y.), who has long championed restrictions on congressional financial activity, delivered her own critique during a fiery rally in Boise, Idaho, as part of her “Fighting Oligarchy” tour with Sen. Bernie Sanders (I-Vt.).

“We saw Marjorie Taylor Greene buy that dip,” Ocasio-Cortez said, drawing cheers from the crowd. “I got one question for her: How much did you make? How much did you make off of people’s despair?”

The crowd erupted in chants of “Shame! Shame!” — an echo of earlier calls for ethics investigations into members of Congress who traded stocks during the early days of the COVID-19 pandemic.

Ocasio-Cortez also accused the Trump administration of “market manipulation by press conference,” pointing to a pattern of sudden economic announcements followed by large, unexplained trades from political insiders.

“Trump’s tariff flip-flops were never about helping American workers,” she said. “They were about helping his friends get richer — and now we see who’s holding the bags of profit.”

Greene is hardly the first member of Congress to face questions about the ethics of trading stocks while in office. In fact, a series of disclosures over the past decade have revealed that dozens of lawmakers — both Democrats and Republicans — have engaged in trades that appear suspiciously well-timed.

In 2020, Sens. Richard Burr (R-N.C.), Kelly Loeffler (R-Ga.), and Dianne Feinstein (D-Calif.) were all scrutinized for dumping millions in stock after private Senate briefings on the pandemic’s likely economic impact. Burr stepped down from his Intelligence Committee chairmanship but was never charged.

More recently, Speaker Emerita Nancy Pelosi (D-Calif.) faced criticism for her husband’s lucrative stock trades, though no wrongdoing was ever proven. Her hesitancy to back a full trading ban while in leadership drew backlash from progressives — a legacy that current House leadership appears eager to correct.

“Public trust is crumbling,” said Craig Holman, an ethics expert at Public Citizen. “The appearance of insider trading is enough to cause real damage, even if nothing illegal occurred. Congress is uniquely positioned to game the system — and far too many members have taken advantage of that.”

Current ethics laws require members of Congress to disclose financial transactions over $1,000 within 45 days under the STOCK Act, passed in 2012. The law, designed to prevent insider trading, was a response to mounting evidence that lawmakers were routinely profiting off non-public information.

But enforcement is weak. Penalties for late or incomplete filings are minimal — often just $200 — and prosecutions are exceedingly rare.

“It’s a toothless system,” said Delaney Carr, a former enforcement officer at the SEC. “Members of Congress can move markets with their words and have access to classified briefings. And yet they’re allowed to trade like hedge fund managers.”

According to the Capitol Trades database, over 90 members of Congress traded stocks in 2023 alone. While some use blind trusts, most do not. And few are required to recuse themselves from votes that could impact their financial portfolios.

The pressure is mounting — not just from Democrats, but from some conservatives as well. Sens. Josh Hawley (R-Mo.) and Jon Ossoff (D-Ga.) have co-sponsored a bill that would bar members of Congress, their spouses, and dependent children from buying or selling individual stocks.

Rep. Matt Gaetz (R-Fla.), typically an ally of Greene, has also supported trading bans.

Even Speaker Elise Stefanik (R-N.Y.) acknowledged the public’s growing frustration during a recent press conference.

“Transparency and accountability matter,” she said. “We will review proposals in committee and ensure any reforms are thoughtful and fair.”

But so far, the Republican House majority has not advanced any legislation to that end — a fact that Democrats like Jeffries plan to emphasize going into the 2026 midterms.

“This will be a campaign issue,” Jeffries said. “Because people are tired of being played.”

While Greene has not directly addressed the accusations, she did post a cryptic message on her X account: “I trust my advisors. I make legal trades. The left is melting down because they can’t control me.”

Critics were quick to pounce on the vagueness of the statement. “Legal isn’t the same as ethical,” AOC responded on X. “And the American people know the difference.”

Calls for a House Ethics Committee review have already begun circulating, though such probes can take months and rarely result in public findings. Still, watchdog organizations have filed formal complaints and are urging the Office of Congressional Ethics to launch an investigation.

Political analysts say the Greene controversy could mark a turning point in the long-running debate over congressional stock trades.

“It has all the elements: a high-profile name, a market move tied to a presidential decision, and bipartisan calls for action,” said Claire Weinberg, a senior fellow at the Center for Responsive Politics. “If this isn’t enough to pass a ban, I don’t know what is.”

Indeed, public support for a stock trading ban is overwhelming. A 2024 Pew Research poll found that 82% of Americans support legislation to bar members of Congress from buying or selling stocks while in office. That includes 79% of Republicans and 88% of Democrats.

“This shouldn’t be partisan,” said Sen. Ossoff in a floor speech last week. “It’s about restoring trust in our democracy.”

Beneath the drama and headlines lies a more sobering reality: the erosion of public faith in government institutions. Scandals like this — even when technically legal — reinforce a perception that Congress plays by a different set of rules than ordinary Americans.

“When lawmakers profit from market moves tied to decisions they help shape, it’s not just bad optics,” said Holman. “It’s corrosive. It sends the message that government is for sale.”

Whether or not Greene faces consequences, the renewed urgency for reform is undeniable. As Trump’s economic policies continue to create volatile markets — and as Democrats gear up for an economic justice platform heading into 2026 — the issue is unlikely to fade.

At her rally in Idaho, AOC ended her speech with a challenge not just to Greene, but to Congress itself.

“We can keep playing this game where some people get rich and the rest of us get played,” she said. “Or we can pass a law. We can end the grift. And we can finally remind the American people what real public service looks like.”

The crowd roared in approval. Whether Congress will match that energy remains to be seen.