Report: Lawmakers trade millions in stock for companies lobbying on bills they oversee

A new report in The Washington Post finds 130 House members, senators or their families have traded stock of companies who are lobbying on legislation in their committees.

The newspaper's story found that the conducted transactions involving the stock of companies lobbying on bills in their committees was worth between $85 million and $218 million. It analyzed public disclosure lobbying and congressional stock transaction information to come to the conclusion.

Approximately one-eighth of all trades conducted between 2007 and 2010 were relevant to bills in committee. Of the 130 lawmakers, 68 were Democrats and 62 were Republican.

This type of trading is legal for members of Congress under current ethics guidelines, despite other administration and agency officials’ strict guidelines on the matter.