Posted on 12/16/2021 5:33:05 AM PST by MarvinStinson
House Speaker Nancy Pelosi on Wednesday said lawmakers should not be barred from trading stock, a practice that has come under scrutiny because it gives members of Congress the opportunity to profit from inside information gained through their official duties.
“We are a free-market economy. They should be able to participate in that,” Pelosi, whose venture-capitalist husband holds tens of millions of dollars’ worth of stocks and options, told reporters.
Pelosi has long said she has no involvement in or prior knowledge of her husband’s trading decisions.
The issue of congressional stock trading has taken on new urgency since the beginning of the pandemic, when suspiciously timed stock trades by lawmakers in both parties provoked outrage and led to multiple investigations.
To date, no one has been charged in connection with stock-trading investigations undertaken by the Justice Department and the Securities Exchange Commission.
But the often lucrative trades nonetheless shine a spotlight on the inadequacies of a 2012 law called the Stock Act, which bars members from using inside information to make investment decisions and requires that all stock trades be reported to Congress within 45 days.
Yet, in the nearly 10 years since it was enacted, no one has been prosecuted under it, even as many members continue to conspicuously trade.
In some recent cases, lawmakers have failed to report their trades altogether, as required by the law.
When asked whether lawmakers and their spouses should be prohibited from trading stock while in Congress, Pelosi said, “No,” adding that “this is a free market.”
Many ethics experts have advocated for a ban on congressional stock trading to remove any temptation altogether.
Pelosi’s most recent financial disclosure shows her husband has millions of dollars’ worth of holdings.
(Excerpt) Read more at marketwatch.com ...
They and designated family members should be required to only hold federal bonds and their personal residences as investments.
Just for kicks I searched for tuna canning on American Samoa with Google Maps. The big Starkist facility towards the NE end of town doesn't look like the kind of place paying everyone $15/hr or more. From street view it was kind of funny - there's a big sign at the gate stating everyone needs valid photo ID to enter. Kind of flies in the face of the 'rats position that voter ID is racist and too hard to obtain...
the freedom of information act applies to nearly everything not national security.
She bought options when Covid hit and when the vaccine was about to be released.
“trading on inside information”
She’s basically buying options on the stock on leading tech companies.
For February 2020, that would be a lower risk option.
For December 2020, she knew the $2 trillion federal spending package would have a stock market impact, as was its purpose.
Do you really think Nancy cares about ghetto dwellers? Nancy cares about rich people such as herself.
Nancy wrote the legislation to keep the minimum wage in AMERICAN Somoa lower than every other territory and state in the USA. Directly benefiting her husbands company.
Now, imagine if Trump, or any of Trumps family members had even a small interest in something similar. THE MSM would be all over that story.
She and her cohorts in the house and senate have made millions off of policy decisions they knew in advance. All of them should be charged with insider trading violations, especially Speaker Pelousy.
As she clears 27% on the DOW.
“Explain to me how...”
I can’t.
Yes, but for them, cheating is a way of life.
“Nancy D’Alesandro met Paul Francis Pelosi while she was attending college. They married in Baltimore at the Cathedral of Mary Our Queen on September 7, 1963. They moved to New York after they wed, then moved to San Francisco in 1969, where Paul’s brother Ronald Pelosi was a member of the City and County of San Francisco’s Board of Supervisors.”
https://en.wikipedia.org/wiki/Nancy_Pelosi
In 1969, I suspect San Francisco real estate was quite affordable.
Do you pay for the service from UnusualWhales.com ?
Oh of course not. And I'm sure he and Nancy never discuss any pending legislation or other government actions that could effect the values of her husband's holdings and business in general.
YEAH RIGHT!
Or if Pelosi could twist the arm of someone at the FDA. Anyone that bought into Pfizer stock in early Dec 2020, right before the EUA gave it a big bump... Or again in early August 2021, right before Corminaty was approved, another big bump. Just knowing which way the FDA was leaning, you could make double-digit percent profit in a matter of a couple of weeks.
Non sequitor ‘answer’
The product of abortion logic.
Why are there any laws?
Just let the individual with biggest stick set the rules.
Nancy admits Congress Critters are getting Rich from insider trading
No, I use Market Chameleon. I follow UW on twitter and such. He does great work. Especially on watching congress, and trades, etc.
Hmmmm....must be missing a /sarc tag, right?
BUSTED: Adam Schiff Appears to Fake Evidence in Text Messages at January 6 Committee
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.