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January 1, Pelosi Rejects Stock-Trading Ban for Lawmakers as Her Family Makes Millions on the Market
House Speaker Nancy Pelosi (D-CA) rejected the notion of banning active members of Congress and their spouses from holding and trading stocks. Her comments come amid calls from some progressives for the practice to be banned for elected officials.
“This is a free market, and people — we are a free market economy. They should be able to participate in that,” Pelosi said at her weekly press conference.
Pelosi’s position is nearly the direct opposite of Rep. Alexandria Ocasio-Cortez (D-N.Y.), who tweeted last week that it’s “absolutely ludicrous” that sitting members of Congress can trade individual stocks.
“The access and influence we have should be exercised for the public interest, not our profit. It shouldn’t be legal for us to trade individual stock with the info we have,” Ocasio-Cortez wrote.
Earlier this year, Sen. Jeff Merkley (D-OR) introduced legislation to ban sitting congressional members and their aides from trading stocks, most bonds, and options contracts. The bill garnered bipartisan support.
Why it matters
Pelosi’s opinion doesn’t appear to be unbiased. Bloomberg reported that her husband Paul made $5 million after acquiring 4,000 shares of Google’s parent company, Alphabet.
A spokesperson for Pelosi told Bloomberg she doesn’t own any stock and had no involvement with her husband’s trading activity.
So far, Pelosi has disclosed 48 transactions made by her family worth more than $50 million. The top Democrat is one of the 25 wealthiest congressional members.
Last year, several lawmakers received backlash for stock trades they made early in the pandemic.
The Securities and Exchange Commission (SEC) is investigating Sen. Richard Burr (R-N.C.) and his brother over Burr selling $1.65 million in stock on February 13, 2020 — after lawmakers received intel on the emerging global health crisis.
Source:
Pelosi Opposes Ban on Lawmakers Trading Stocks as Her Family Makes Millions on the Market
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Jack Van Rooy
December 16, 2021 at 9:33 pm
Pelosi and her husband should serve jail time for insider trading!!!
patricia a ledford
December 17, 2021 at 1:08 am
AND WHOS GOING TO PROSECUTE THEM??? THE FBI…DOJ…??? LOL
THEY’RE MOSTLY CROOKED TOO ALONG WITH MOST OTHER POLITICIANS!!!
CHECK THEIR MULTIPLE PASSPORTS AND OFFSHORE ACCOUNTS!!! COMMIES ROAM AND RULE THE USA!!!
Fjb
December 17, 2021 at 2:01 am
Absolutely!!
Challange
December 17, 2021 at 2:10 am
First sign Pelosi will not run again she is so Brazen she as much as admits she sells her vote for insider information !!!!!
Mary-Jo
December 17, 2021 at 3:04 am
Absolutely !!
NavVet
December 17, 2021 at 2:13 pm
Plus every other Congressperson who have become millionaires at our expense. Government is legal theft and corruption. And I don’t even want to talk about insider work contracts
Ken
December 17, 2021 at 2:16 pm
It’s time for “WE the People” to change the laws for Congress for obviously they cannot judge themselves
SJ Mike
December 16, 2021 at 9:46 pm
The most intelligent thing AOC has said since….. “can I get you another drink?”
Water’s world on Nancy self dealing was a really good expose’
R Zimmer
December 16, 2021 at 11:33 pm
So lets just assume NP had the speakers salary of $223,500 for 50 years, that’s only $11,175,000. yet she is worth 110 million, and says she is for the little people. She lives in a San Francisco mansion surrounded by a wall and a gate. She doesn’t offer that same protection to the average American, especially those living on the border. Her wall is probably meant to keep the little people from getting her gourmet ice cream out of her $20,000+- custom refrigerator. Maybe, just maybe, the illegals and little people should start camping at her wall or better, on her from lawn! Its time she sees how the little people live, or the average hard working American who works hard every day to keep one step ahead of life and its daily challenges. The Biden BBB plan is a huge gift to the rich, no wonder she supports it: are you buying a Tesla? If you raise taxes on business, who do you think pays the for the increase? The consumer who buys that companies goods, (food, drink, cars, gas, rent, and who is that YOU!!!!!! No increases in taxes, only a fool would believe that, unless you live under a rock in the desert. EVERYONE WILL PAY, except maybe NP who believes in capitalisms for her but NOT YOU.
Bob Dimesky
December 17, 2021 at 12:46 am
Pelosi’s family has ripped off the American public since her father was mayor of Baltimore, she stepped in to the “family business” being a professional politician and influence peddler for herself and raped the nation using insider tips passed to her husband who made millions off the information and timing….this should be illegal. No one should amass wealth doing the public’s business. Obama’s selling out the public is little different…..made hundreds of millions influence peddling and doing the business for the global elites of the world, ripping America’s people apart and putting them and their Nation behind the eight ball…..disgusting mess these people have made of our systems of governance….they should be both ashamed and tarred and feathered for their choices….we the American People deserve satisfaction from these aristocratic bastards….disgorge them from their ill gotten gains each and every one and put it into the infrastructure package to really “make America Great Again”. That will serve those self serving bastards a dose of their own medicine…let’s show them that .greed never wins!
Rodney
December 17, 2021 at 12:51 am
No one in Congress should be allowed to do anything in the Market as long as they are in office. Hell they would not even let Trump keep his own Damn Businesses running the way they had been for years. We all know Damn Good and Well Nancy has done insider trading for years and no one does a thing. She is a TRAITOR to the UNITED STATES and should be in PRISON. And if you sorry Ass RePUSSYcans get back in power “which I doubt because we all know the Elections are Rigged and completely Fraudulent and again NO ONE DOES a thing” And you all do not go after every Damn one of these TRAITORS on BOTH sides then you are WORTHLESS!!
patricia
December 17, 2021 at 1:09 am
AND WHOS GOING TO PROSECUTE THEM??? THE FBI…DOJ…??? LOL
THEY’RE MOSTLY CROOKED TOO ALONG WITH MOST OTHER POLITICIANS!!!
CHECK THEIR MULTIPLE PASSPORTS AND OFFSHORE ACCOUNTS!!! COMMIES ROAM AND RULE THE USA!!!
jim
December 17, 2021 at 1:47 am
all corrupt dem need to go to prison for there crimes
Joseph
December 17, 2021 at 2:47 am
I don’t believe it!! I find myself in 100% agreement with AOC on something!
Old Fur Trapper
December 17, 2021 at 4:18 am
Only the corrupt like Pelosi would support this! The wicked bitch of the west is into everything corrupt! From multi million dollar payouts for her brats employed in foreign companies to buy access to our government to insider trading and more! This should be printed across every paper everywhere in big letters as a big red flag to the American public! She is corrupt and should be jailed!
SamIam
December 17, 2021 at 10:25 am
Of course she is refusing it. She’s also refusing to let anyone dare remove her from the teats of “Her & her Husband’s” Pet Cash Cows!!! Last I had heard those Cash Cows have brought them into Mega-Millions. As in “MEGA Wealth”. If they took her off of them now, the Withdrawals would surely make her head spin around & she’d spit Pea Soup!!! All the while if any Republican down line or anywhere above or below, benefit on any bit of advice that seems suspect and they come out $1.00 over, they Zap Them like a Big Fat Frog Zap’s a Fly! I Loved watching her turn pale then green when a reporter or someone at some huge event that she was speaking at literally called her out on it. She tried so hard to shake him off, and deny and change the subject just like Psaki does, but he took it to the end so that everyone knew he had dealt a horrible blow & a crack in her evil, fake facade.