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After Pledging a Ban, Rep. Bresnahan Emerges as an Active Stock Trader

His office says an outside adviser executes the trades without his involvement.

Overview

  • The Pennsylvania Republican has not joined a leading House push to restrict stock trading and instead introduced a bill critics describe as weak.
  • He has signaled he may forgo placing his holdings in a blind trust despite earlier suggestions he would pursue that step.
  • In a Scranton-area radio interview, he questioned halting trading by his adviser, saying he did not want to leave money idle and lose value.
  • Momentum for stricter rules continues in Congress, yet passage remains uncertain after past failures and concerns over costs, taxes and personal finances.
  • Sen. Rick Scott raised issues about divesting illiquid assets under a ban, while Rep. Gil Cisneros opposed broad prohibitions but backed limits tied to committee oversight and said a manager handles his trades.