It is obvious that the political moves are jabs at radical US House Representative Nancy Pelosi, the dangerous Speaker of the House, which has caused her to go into cover-up mode pretending like she likes the idea. This is a shocking move for the left because it would ban stock trades by members of Congress and their families.
The radical left is aware of how well-liked the concept is among all Americans.
If you think that Democrats must deliver on it after Speaker Nancy Pelosi just announced that they’re considering a vote in the House this month to ban lawmakers from trading stocks — something supported by a huge swath of Americans, please retweet and follow us!
— Occupy Democrats (@OccupyDemocrats) September 14, 2022
Paul Pelosi, a venture capitalist and husband of House Speaker Nancy Pelosi, continues to regularly buy and sell stocks and stock options. The couple has amassed a substantial wealth throughout the time Nancy has lived in Washington, DC.
Pelosi has access to sensitive information and the authority to use words or deeds to influence the success of businesses her husband trades and invests in.
Math-savvy Americans are aware of the repercussions.
Listen to how quickly Pelosi said “No” to the question of wether Members of Congress and their spouses should be banned from owning stock.
Pelosi’s salary is $223,500
Her net worth is about $100 million.
You do the math. pic.twitter.com/W18E2vTTNA
— 🇺🇸BellaLovesUSA🍊 (@Bellamari8mazz) December 15, 2021
Pelosi responded in the affirmative when asked in December 2021 whether Congressmen should even be permitted to trade equities.
We operate in a free-market system. They ought to be able to take part in it, she added.
Now that she has been exposed, Pelosi might be rethinking her mind.
“While speaking to reporters, Pelosi said a bill banning Congress members from trading individual stocks may go to a vote as soon as this month. Pelosi, among other lawmakers, has been primarily accused numerous times of benefiting from insider knowledge.
A reporter asked Pelosi about an investigative piece from the New York Times, which found that “97 Congress members traded stocks impacted by the work of legislative committees they sit on, either personally or by close relatives,” according to Martin Walsh of Consserative Brief.
“The Times report did not include Pelosi as one of the offending lawmakers, though the trading activity of her husband has long been scrutinized. It remains to be seen exactly what the restrictions may be, but a bipartisan bill introduced in February by six bipartisan representatives and senators called for a ban on Congress members and their families from owning any individual securities, including stocks, bonds, and commodities,” according to Forbes.
The report further stated that “The proposal allowed lawmakers to own mutual funds and ETFs and suggested a $50,000 penalty for violations.
Pelosi’s husband Paul Pelosi sold $4.1 million in shares of chip maker Nvidia at a loss in July, one day before the Senate passed legislation that caused the company’s stock to surge.”
The Pelosi family has made a fortune in the stock market, especially in recent years, according to a New York Post investigation.
According to data compiled for The Post by FinePrint, a group pushing for greater transparency of financial holdings on both sides of the aisle, the Pelosis’ overall portfolio, which also included businesses like Disney and Roblox, outperformed the S&P 500 by 4.9 percent in 2019 and a staggering 14.3 percent in 2020.
However, it’s possible that the Pelosis’ exposure to tech stocks damaged them in 2021, when their portfolio lagged the S&P 500 by 15.5 percent.
The speaker emphatically rejected the concept of outlawing trading in individual equities when questioned if the potential for profit from transactions could lead to a conflict of interest. Drew Hammill, a spokesman for Paul Pelosi, maintained that the trades are unimportant despite The Post’s findings that Pelosi has generally outperformed the market.
Walsh stated that “Pelosi was against stock trade bans until enough Democrats flipped on her.”
Pelosi appeared to rule out prohibiting members of Congress and their spouses from trading stocks during a press conference in December.
More on this story via The Republic Brief:
When she was asked directly whether she supported a ban, she said: “No, I don’t.”
Asked why such trades shouldn’t be stopped, she replied: “Because this is a free market and people—we are a free market economy. They should be able to participate in that.”
GOP House Leader Kevin McCarthy, who will likely become the next Speaker if Republicans win back in the House in November, said there will be an investigation into the Pelosis stock trading. CONTINUE READING…