Dozens of members of Congress and their close relatives continued to sell off banking stocks amid the extreme financial turbulence in March prompted by the collapse of Silicon Valley Bank (SVB), according to an analysis by Capitol Trades.
Many of the selloffs came at the same time as some of the lawmakers were actively meeting with banking regulators to discuss the financial turmoil.
The analysis by the platform shows that Rep. Jared Moskowitz (D-Fla.) sold $65,000–150,000 worth of Seacoast Banking Corporation shares on March 10, the same day that SVB failed.
Posting on Twitter regarding the collapse of SVB two days later, Moskowitz wrote, “Very concerned we will see contagion come Monday if action isn’t taken.”…