These Politicians Who Regulate Big Cable Invest in AT&T, Comcast, and Verizon

Financial disclosures reveal that four members (including the chairman) of the House Committee on Energy and Commerce and one member of the Senate Committee on Commerce, Science, and Transportation hold personal investments in AT&T, Comcast, and/or Verizon. Some of these men also serve on subcommittees that are specifically in charge of legislating the internet and telecommunications industry. […] However, for the most part, it’s not illegal at all for lawmakers to invest in the companies that they regulate. “In sum, there are no restrictions on any kind of investments,” Meredith McGhee, Policy Director at the Campaign Legal Center, told Gizmodo. “Members in the House (and Senate) are not required to divest. To recuse or abstain from voting, they have to have a ‘direct personal or pecuniary interest in the event of such question.’ That is interpreted to mean when legislation affects a ‘class’ of people and not a few individuals.” – Adam Clark Estes,Gizmodo¬†