Pelosi Opposes Ban on Lawmakers Trading Stocks as Her Family Makes Millions

[Cinnabar]

House Speaker Nancy Pelosi is defending lawmakers' ability to own stocks as some progressives call for the practice to be banned for those who hold elected office.

At her weekly news conference on Wednesday, Pelosi said she was against prohibiting lawmakers from owning and trading individual stocks.

"We are a free market economy," she said. "They should be able to participate in that."

Pelosi's husband Paul has made millions on the market. Bloomberg reported in July that the speaker's husband banked $5 million after acquiring 4,000 shares of Google-parent company Alphabet.

https://www.msn.com/en-us/news/poli...ions-on-the-market/ar-AARQHVk?ocid=uxbndlbing

Both sides of the duopoly partake in this corruption and BTW...Fuck you Nancy!!!

 

[Celticguy]

if regular people did what congress routinely does with stocks they would be in prison.

 

[cawacko]

I don’t see an issue with those in Congress owning index funds but I get the argument against them owning and trading individual stocks while in office.

 

[Sailor]

if regular people did what congress routinely does with stocks they would be in prison.

Not just stocks. Any law for that matter.

 

[Geeko Sportivo]

I don’t see an issue with those in Congress owning index funds but I get the argument against them owning and trading individual stocks while in office.

I agree! But, how do they manage stocks they may already have before going into office?

What are people running for Congress to do- Dump their 401K's and be forced to pay the penalties just to meet the qualifications of office?

In Nancy's defense, I think Nancy should be asking her Haters this question?

Exactly just how do you dump all of your stocks to become a Congressman?

Would anyone even run- if that were the case?

And what's next forbidding Supreme Court Justices to buy or sell stocks for the rest of their lives??

Say, wasn't it President Trump that remotely made huge sums of money off of the Horse De-wormer Medicine stocks while pushing that as a cure for Covid?

So, already, I see why people are upset about this, but Congressmen are not the only ones that can take advantages while in office.

I think it should just come down to transparency and make sure that Audits are in place of all government officials.

No more of these fucking executive privileges and CONGRESSIONAL perks for our government officials that allows them to cover up their crimes.

 

[Celticguy]

I don’t see an issue with those in Congress owning index funds but I get the argument against them owning and trading individual stocks while in office.

they have the same information that makes securities traders subject to insider trading.
They got caught at it as well recently which is why the new laws are being proposed.
It had to come from the progressives as all the others have been getting rich off it for generations.

 

[cawacko]

I agree! But, how do they manage stocks they may already have before going into office?

What are people running for Congress to do- Dump their 401K's and be forced to pay the penalties just to meet the qualifications of office?

In Nancy's defense, I think Nancy should be asking her Haters this question?

Exactly just how do you dump all of your stocks to become a Congressman?

Would anyone even run- if that were the case?

And what's next forbidding Supreme Court Justices to buy or sell stocks for the rest of their lives??

Say, wasn't it President Trump that remotely made huge sums of money off of the Horse De-wormer Medicine stocks while pushing that as a cure for Covid?

So, already, I see why people are upset about this, but Congressmen are not the only ones that can take advantages while in office.

I think it should just come down to transparency and make sure that Audits are in place of all government officials.

No more of these fucking executive privileges and CONGRESSIONAL perks for our government officials that allows them to cover up their crimes.

I believe they often put their various holdings into blind trusts so as to avoid the appearance of corruption. (although someone can correct me on that if I'm wrong). It's not reasonable, I don't believe, to expect someone joining Congress to be forced to sell everything they own (nor are they forced to). But the individual stocks is where the biggest issues can present themselves because they do often have access to information that the general public doesn't and it's not a good look for them to profit off that. (And index funds still allow those in Congress or Supreme Court justices to invest in the stock market.)

 

[Sailor]

I believe they often put their various holdings into blind trusts so as to avoid the appearance of corruption. (although someone can correct me on that if I'm wrong). It's not reasonable, I don't believe, to expect someone joining Congress to be forced to sell everything they own (nor are they forced to). But the individual stocks is where the biggest issues can present themselves because they do often have access to information that the general public doesn't and it's not a good look for them to profit off that. (And index funds still allow those in Congress or Supreme Court justices to invest in the stock market.)

Exactly. They buy stocks in companies that have lobbyists writing laws for Congress.

 

[SmarterthanYou]

I agree! But, how do they manage stocks they may already have before going into office?

What are people running for Congress to do- Dump their 401K's and be forced to pay the penalties just to meet the qualifications of office?

In Nancy's defense, I think Nancy should be asking her Haters this question?

Exactly just how do you dump all of your stocks to become a Congressman?

Would anyone even run- if that were the case?

And what's next forbidding Supreme Court Justices to buy or sell stocks for the rest of their lives??

Say, wasn't it President Trump that remotely made huge sums of money off of the Horse De-wormer Medicine stocks while pushing that as a cure for Covid?

So, already, I see why people are upset about this, but Congressmen are not the only ones that can take advantages while in office.

I think it should just come down to transparency and make sure that Audits are in place of all government officials.

No more of these fucking executive privileges and CONGRESSIONAL perks for our government officials that allows them to cover up their crimes.

you want the money out of government officials, correct? that is exactly how you do it. no stock owning, no trading, no nothing.

 

[SmarterthanYou]

 

[Cinnabar]

 

[T. A. Gardner]

if regular people did what congress routinely does with stocks they would be in prison.

I think Mark Twain was on to something...

 

[Celticguy]

they do it all the time

 

[Lionfish]

Hey, back off. If they are caught for not disclosing their purchase, the fine is a whopping $200.

 

[Stringfellow Hawk]

that one thing is the only reason millionaires run for office, insider information