- United States
- Mich.
- Letter
I note with interest that US Representative Robert Bresnahan (R-PA) sold a bunch of shares of Centene, a company that provides healthcare exchanges for Medicaid, just prior to the passage of the recent budget bill which guts Medicaid.
Unsurprisingly, after the bill passed (and well after Rep. Bresnahan’s sale), the stock’s value dropped sharply.
In the business world, this would be a clear case of insider trading. This kind of corruption—if tolerated—will only serve to further erode the people’s rapidly declining respect for our Congress.
I urge you to take decisive action:
• Censure Rep. Bresnahan for his blatant corruption
• Make it a federal crime for members of Congress to buy or sell stock while they hold office, punishable by a prison term of not less than the length of their term of office _and_ a fine of not less than the value of the stock traded, at the time of the trade or at the time of sentencing, whichever is greater.
This won’t solve the problem of corruption in Congress, but it will help restore the people’s confidence in our government.
Thank you.