Summarize this content to 2000 words in 6 paragraphs Texas Representative Dan Crenshaw slammed a proposal calling for a ban on congressional members trading on the stock market, branding accusations of insider trading as “bull***** headlines.”Speaking to The Free Press, the Republican hit back at allegations that he used his position in Congress to “beat” the stock market, addressing claims made by Fox News anchor Jesse Watters about his finances.When asked if he supported a ban on members of Congress participating in the stock market, Crenshaw responded: “This is number 1,000 on my priority list of things to care about.””This is one of those stupid things that I’ve been dragged through the mud on,” he said. Do you know how much f****** money I’ve ever had in the stock market? About $20,000, yet I’ve been dragged through the mud on this as if there’s some insider trading.”Crenshaw had appeared on a list of politicians who had been most successful with investments. Watters said Tuesday on Jesse Watters Primetime: “A lot of them were investing in companies they had inside information on. Ladies and gentlemen, this is what corruption looks like. And that is why Congress still hasn’t passed a ban on insider stock trading.”Newsweek reached out to Crenshaw’s office via email for comment.
Texas Rep. Dan Crenshaw at the annual Conservative Political Action Conference in February 2024. Crenshaw called allegations of insider trading “bull****.”
Texas Rep. Dan Crenshaw at the annual Conservative Political Action Conference in February 2024. Crenshaw called allegations of insider trading “bull****.”
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Crenshaw addressed the allegations directly in his interview with The Free Press.”I had to send a letter to Fox News, a threatening letter from my lawyers, threatening them with defamation because Jesse Watters had basically insinuated that I was insider trading. Of course, it’s not true—you’d be more surprised by how little information we have,” the congressman said.”This is one of those bills that’s like, some people support it. Sure. OK. Who cares? Because I barely have anything in the market anyways. There are a couple of cases, like with [former House Speaker] Nancy Pelosi, who has some very suspicious timing in her trades, but nobody can point out any other examples.”So sure, why not? Don’t let us trade stocks. We’ll just keep whipping ourselves. How about we don’t make any money either? Let’s just cut our paycheck. We haven’t got a pay raise since 2008.”Crenshaw ended sarcastically, saying, “So, actually, this is a great idea. Let’s make Congress a place where only the millionaires can afford to have a job. Let’s keep doing that. Because it’s always some member who senses the populist energy and then mirrors it, believing it will help them connect with the people.”‘All my problems will be solved if there’s no stock trading; all my problems will be solved if there’s term limits.’ But if you think about these things for more than five whole minutes, you might come to a different conclusion.”Again, who cares? It doesn’t matter to me because I don’t have any f****** money to put in the stock market, unlike the bull**** headlines that have been written about me.”Do you have a story we should be covering? Do you have any questions about this story? Contact LiveNews@newsweek.com.
