The Virginian-Pilot
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So many Americans seem to reflexively believe their elected officials are corrupt — at least two-thirds of adults, according to a recent poll by YouGov — it sometimes seems as if such suspicions are a requirement of citizenship.

It certainly doesn’t help, though, when the president and lawmakers do less and less to avoid the appearance of wrongdoing or commit acts that, by any reasonable standard, defy the responsibilities of holding elected office.

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One of the most egregious examples of potential corruption lately is President Donald Trump’s direct involvement in peddling a meme coin called $Trump. Such coins aren’t tied to anything of material value, such as a stock, and are traded on various crypto exchanges, including in foreign markets.

Last month, the Trump Organization announced a competition that would reward the top 220 buyers of his coins with “an intimate private dinner” with the president and the top 25 with an invitation to the dinner, an exclusive reception and a special tour of the White House.

The promise of the dinner, scheduled for May 22, has raised widespread concerns about influence-peddling. It’s also drawn many takers, earning Trump and his partners at least $1.3 million in fees. Since the start of the year, when the coin was issued, they’ve made more than $320 million.

Trump officials assure the public that the president and his family are complying with all laws in these dealings, but how can Americans know for sure? The secret nature of the transactions is especially worrisome at a time when foreign governments are eager to win concessions on U.S. tariffs.

It’s not only the president who’s compromised the integrity of his office in such fashion. Numerous members of Congress have faced insider trading allegations for making large stock trades that seemed to benefit from information they gained in their official capacity.

Former House Speaker Nancy Pelosi, D-Calif.; former Sen. Richard Burr, R-N.C.; and others drew scrutiny when they or their spouses made well-timed trades following a Senate briefing in the earliest days of the COVID-19 pandemic. More recently, Rep. Marjorie Taylor Greene, R-Ga., is among lawmakers accused of taking advantage of knowledge of Trump’s various actions in the ongoing tariffs.

Lawmakers also have faced repeated questions about whether their investments influence their votes. A 2021 investigation by Business Insider, for example, found that 15 Democrats and Republicans in powerful positions on defense committees had substantial stakes in stock issued by major military contractors.

Congress has before it two bills that would address the appearance of impropriety and — more importantly — actually reduce the risk of corruption.

One bill would ban the president, vice president, members of Congress, senior administration officials and their families from issuing digital assets such as $Trump. The other, endorsed last week by House Speaker Mike Johson, R-La., would bar members of Congress from trading individual stocks.

Both measures deserve swift passage, provided the final versions carefully stipulate prohibited activities and carry substantial penalties for noncompliance.

Americans will no doubt continue to fuss about dishonest politicians with their hands elbows-deep in the cookie jar. But at least their complaints won’t be as close to the truth as recent events would indicate.

— The Virginian-Pilot