Democracy Inc.
How Members of Congress Have Cashed In On Their Jobs
Published on 30. April 2020
142 pages
978-1-62681-004-4 (ISBN)
Description
An investigation into how legislators have taken advantage of their positions-and of weak financial disclosure laws-to make millions.
After a historic financial crisis led Congress to unprecedented economic intervention, the Pulitzer Prize-winning Washington Post began an investigation that pierced the secrecy of the deeply flawed financial disclosure system that governs the 535 men and women who draft the nation's laws.
Members of Congress directed millions of dollars to infrastructure projects near their residences and businesses, in some cases paving roads in front of their houses. They made major trades in the stocks of companies pressing them for legislation. They wrote laws favoring industries in which they were invested. They sponsored bills on which their own family members were paid to lobby. All of it is legal under the rules Congress has written for itself. Democracy Inc. shows the consequences of this system.
After a historic financial crisis led Congress to unprecedented economic intervention, the Pulitzer Prize-winning Washington Post began an investigation that pierced the secrecy of the deeply flawed financial disclosure system that governs the 535 men and women who draft the nation's laws.
Members of Congress directed millions of dollars to infrastructure projects near their residences and businesses, in some cases paving roads in front of their houses. They made major trades in the stocks of companies pressing them for legislation. They wrote laws favoring industries in which they were invested. They sponsored bills on which their own family members were paid to lobby. All of it is legal under the rules Congress has written for itself. Democracy Inc. shows the consequences of this system.
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Persons
The Washington Post is a celebrated American daily newspaper. It is the most widely circulated newspaper published in Washington, D.C., and was founded on December 6, 1877, making it the area's oldest extant newspaper. Its slogan is "Democracy Dies in Darkness".
Content
- Intro
- Democracy Inc.
- Copyright
- Introduction
- PART ONE: Earmarks
- Public Projects, Private Interests: Some lawmakers have used earmarks to direct millions of dollars in federal money to projects that are near properties they own
- A closer look: Sen. Richard C. Shelby, In the middle of a revitalization
- Capitol Assets: Some legislators send millions to groups connected to their relatives
- Money flowed to waterway projects
- PART TWO: Stocks
- Members of Congress trade in companies while making laws that affect those same firms
- Four lawmakers sold retailer's stock amid Senate investigation
- Congressional rules on trading had their start in 1789
- Lawmakers reworked financial portfolios after talks with Fed, Treasury officials
- PART THREE: Legislation
- Personal interests, bills can overlap: Congressional ethics rules leave door open for lawmakers to benefit
- Congressional ethics committees protect legislators, critics say
- Congress's richest mostly shielded in deep recession
- PART FOUR: Lobbyists
- In Congress, relatives lobby on bills before family members
- About Democracy Inc.
- About the Authors
- More from The Washington Post
- Connect with Diversion Books
