Posted on 01/25/2023 7:04:15 AM PST by C210N
Sen. Josh Hawley (R-Mo.) has introduced a bill that would ban members of Congress from trading and owning stocks, using the name of his legislation to take a jab at Rep. Nancy Pelosi (D-Calif.).
Hawley on Tuesday introduced the Pelosi Act — or the Preventing Elected Leaders from Owning Securities and Investments Act — renewing a legislative push to curtail stock trading by lawmakers that has failed over the last few years.
(Excerpt) Read more at thehill.com ...
Pelosi “ “I got mine . . hahahaha”.
P. E. L. O. S. I. Act.
Perfect!
Does nothing for their spouses,and is ridiculous on the face of it.
If I had a decent portfolio and decided to run for office, if I won I would have to divest all of my stocks?
That's just another nail in the coffin of honest, decent Americans running for office and leaves it all to the swamp monsters.
Completely useless unless you ban family members and any organizations (charitable or otherwise) that they may have formed, or sit on the board of.
I’d like Mitch to pledge passage in 2024.
Yep, it has a monster loophole.
But, if for no other reason than being highlighted in a news cycle or two for its name and cause to wake up sheeple, it is worth it.
The whole congress needs to collapse from its swamp weight, but there are some sparks of light - this Act is one. Another is McCarthy’s interview where he lambasts a nutty reporter and answers why Shiffty and Swallow-well will not be on the intelligence committee - worth a view if you have not already seen it.
Even if the MSM objects, they can't ignore the title.
Meaningless.
They are already forbidden to engage in insider trading.
So now their relatives get the sweet deals ... what pure coincidence!
Isn’t that what the STOCK Act was for?
If this passes, it should but it won’t, what will folks like Crenshaw do?
An anti-capitalist solution is not gonna be a solution.
Better to make their trades public.
They get caught...so what, nothing is going to happen to them, laws have to have some consequences behind them to be effective and currently, US law is an absolute JOKE.
There is a giant loophole, but some of that information would be coming from briefings about certain things. Stuff that the general public may or may not privy to.
No different than how classified information is supposed to be treated.
The problem with the whole this thing and the STOCK Act, is enforcing it. Enforce it for one, enforce it for all.
We all, would have no problem with it, but with Congress it’s ‘honor among thieves’ and they aren’t going to snitch on their pals.
Good point
It includes spouses.
https://www.hawley.senate.gov/sites/default/files/2023-01/LEW23036.pdf
‘‘(a) PROHIBITION.—Except as provided in sub-24
section (b), a Member of Congress, or any spouse of a25
4
LEW23036 MPH S.L.C.
Member of Congress, may not, during the term of service1
of the Member of Congress, hold, purchase, or sell any2
covered financial instrument.3
‘‘(b) EXCEPTIONS.—The prohibition under sub-4
section (a) shall not apply to—5
‘‘(1) a sale by a Member of Congress, or a6
spouse of a Member of Congress, that is completed7
by the date that is—8
‘‘(A) for a Member of Congress serving on9
the date of enactment of the Preventing Elected10
Leaders from Owning Securities and Invest-11
ments (PELOSI) Act, 180 days after that date12
of enactment; and13
‘‘(B) for any Member of Congress who14
commences service as a Member of Congress15
after the date of enactment of the Preventing16
Elected Leaders from Owning Securities and17
Investments (PELOSI) Act, 180 days after the18
first date of the initial term of service; or19
‘‘(2) a covered financial instrument held in a20
qualified blind trust operated on behalf of, or for the21
benefit of, the Member of Congress or spouse of the22
Member of Congress
Preventing
Elected
Leaders from
Owning
Securities and
Investments
Act
Lovin’ it!
Especially since this witch really seemed to love pushing destructive bills with these innocuous sounding names.
The DREAM Act was one. Can’t recall all the others at the moment.
I must have blocked them out of my mind, just to retain my sanity.
Biden says he doesn’t need any stinking stocks to be rich.
Paper can be worth millions.
Exactly. Other than the personal dig, she’s already made her fortune with insider trading. As well as many others.
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