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1996 | 06 | 18
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Lawmakers Keep Earning Quick Profits on IPOs
June 18, 1996

WASHINGTON — Despite controversy in recent years over members of Congress earning quick profits on hard-to-get new stocks, one senator and two representatives reported thousands of dollars in gains on initial-public-offering trades last year.

Republican Sen. Fred Thompson of Tennessee, Democratic Rep. John LaFalce of New York and the husband of Democratic Rep. Nancy Pelosi of California each made at least $5,000 on hot IPOs since last year, sometimes by buying and selling the same day. The wives of two other Democratic congressmen — Lloyd Doggett of Texas and Peter Deutsch of Florida — invested in IPO stocks but still hold …