The Campaign Spot

Can I Trade in My Day-Trading Congressman?

Nice to know that my congressman, Rep. Jim Moran (D., Va.), isn’t all that much more careful with his own money than he is with the taxpayers’:

Moran’s trading has evolved over the years. Between 1995 and 2003, while representing bustling Northern Virginia, Moran made more than 537 options trades, potentially worth more than $3 million in all, according to a Washington Post review of records compiled by the nonprofit Center for Responsive Politics. In 1999, after the congressman lost about $120,000 over two years through options investments, attorneys for Moran’s second wife described his behavior as “stock market gambling” in court papers filed as part of a divorce.

Since Moran’s remarriage in 2004 to a wealthy entrepreneur, his disclosure statements show one of the most actively traded portfolios in Congress, with assets owned by his wife. In early 2005, he personally made more than two dozen risky, short-term investments designed to profit on the rise or fall of stock indices, his disclosure forms show.

I see a great slogan next time he is in a Democratic primary fight: Jim Moran: There’s nothing fiscally conservative about him. No, really.

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