Posted on 12/19/2021 3:30:47 PM PST by MarvinStinson
It’s hard to think of anything more symbolic of America’s gilded and decadent ruling class than elected officials owning pieces of the very economy they’re officially charged with managing.
All told, it’s difficult to imagine something more darkly symbolic of a decadent ruling class than a multimillionaire member of Congress mounting a transparently self-interested defense of political insider trading. Nonetheless, that’s exactly what House Speaker Nancy Pelosi did this week when asked about a proposed ban on members and their spouses holding and trading stocks while in office.
“This is a free market, and people — we are a free market economy,” Pelosi said. “They should be able to participate in that.”
Nancy Pelosi’s stock ownership is a clear conflict of interest, the kind of thing tha t wouldn’t be allowed in a functioning democratic society. Members of Congress tend to be far wealthier than the general population, and it’s common practice for many of them to own and trade chunks of the very economy they’re tasked with managing and overseeing.
It’s a clear and visible conflict of interest, and the kind of thing that wouldn’t be allowed in a functioning democratic society.
Much of the corrupt behavior that occurs regularly in Washington is, in effect, perfectly legal and out in the open: so much so that it can even elicit spirited defenses from the country’s most powerful elected officials.
(Excerpt) Read more at jacobinmag.com ...
I understand the French citizens’ use of the guillotine more and more each year.
Bfl
She tells us right to our faces that Congress Critters are getting Rich from insider trading
My workplace and I’d imagine many others frown on just the appearance of shady practices even if it’s legal.
This has been going on for decades. Congress even wrote it into law granting them exclusivity to insider trading.
We the people need to take back control.
An honest public servant can’t become rich in politics.
Harry Truman
I worked in Sales Operations for public and private companies and was privy to all the sales data for the corporations. I signed MANY statements over the years the insider trading laws and certifying I wasn’t doing that.
Congressman Chris Collins of NY was convicted of insider trading. I guess those rules inly apply to republicans.
The ruling class is NOT officially charged with managing the economy
The Nanzi Party
She looks good in black.
This has been going on for decades.
I recall Lincoln saying: I will give him the keys of the Tresuary after I change the locks.
“I recall Lincoln saying: I will give him the keys of the Tresuary after I change the locks.”
Too bad they killed him before had the chance to do it.
She should be charged and convicted just like all the rest that practice this.
bookmark
How else do you suppose someone with a salary of 187K a year can amass a fortune of over 200 million?
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