Nancy Pelosi Suffers Major 2022 Defeat In Congress – She Just Waved The White Flag On Lawmaker Stock Trading
Americans were disgusted when they learned that many members of Congress are getting rich off of stocks. These lawmakers have access to exclusive information about companies—and can pass laws that affect entire industries. That gives them an upper hand in stock trading.
If you or I did that, it would be called insider trading. And we’d go to jail.
Pressure grew to make this practice illegal. But Speaker Pelosi defied it. Why? Because she and her husband have made millions from this shady arrangement. Despite her resistance, a bipartisan bill was drafted to end this gravy train.
From NY Post:
Sens. Elizabeth Warren and Steve Daines are teaming up on the first bipartisan Senate bill to prohibit stock trading by members of Congress and their spouses — adding to growing momentum on both sides of the aisle for a ban on the practice.
Pelosi, of course, was doing everything she could to stop this. But, there was just too much movement against her. And, perhaps fearing the upcoming midterms, Pelosi caved.
From The Western Journal:
House Speaker Nancy Pelosi of California supports passing a ban on trading in individual stocks by members of Congress, according to a new report.
The report from Axios, citing Punchbowl News, aligns Pelosi philosophically with lawmakers who want to ban this practice — an issue that already has bipartisan support in the Senate.
A bipartisan bill has been drafted in the Senate to ban stock trading by members of Congress. The bill is supported by Republicans and Democrats and could have a chance at passing. Pelosi, who just a few months ago, defended this practice, is reportedly now on board.
A report seems to suggest she is “philosophically” aligned with this movement to ban stock trading. But we’ve yet to see clear support in the form of a bill in the House, one that Pelosi would be able to openly attack or defend. It’s hard to believe Pelosi, who is a millionaire thanks to her investments, would back a bill like this without intense pressure.
After all, such a bill would remove the incentive many lawmakers have for even running for Congress! It’s an open secret that many politicians are elected to the House. They serve for a few years, pass a few bills that make the lobbyists happy. Then they retire much richer than they were before.
(Or did you think AOC really has a vision for the United States?)
But if they ban stock trading, we might see a mass exodus from Congress. Many “career politicians” would suddenly retire to spend more time with their families. It could cause a fundamental shift in our government. People would run, who actually wanted to serve our country!
We’ll see if Pelosi actually goes with this.
- Senators have proposed a bill to ban stock trading by lawmakers.
- A report suggests Pelosi is on board with such a move.
- Pelosi previously defended stock trading, just a few months ago.