Pelosi in controversial defense of stock trading for members of Congress


Pelosi in controversial defense of stock trading for members of Congress

The Speaker of the House responded to the debate on insider trading.

Washington DC – House tenant Nancy Pelosi said on Wednesday that she did not agree that members of Congress and their spouses should be prohibited from owning and trading individual shares during their tenure – although she may have personal shares in the debate.

House Speaker Nancy Pelosi wore the Golden State Warriors colors at her weekly press conference on Wednesday and said she was a “die-hard fan.” © IMAGO / ZUMA on the wire

The controversial remarks come as many have questioned the ethics of those in Congress who use policymaking and the stock market for personal gain.

“We are a market economy,” Pelosi said Initiated Wednesday. “They should be able to participate.”

Surveys per the publication found that at least 49 members of Congress and many federal lawmakers have negotiated stocks in areas they oversee on government committees.

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“We have a responsibility to report on the stock,” Pelosi said. “If people don’t report, they should be.”

Yet it has been revealed that many have did not report accurately their financial transactions and have been found guilty of failing to comply with laws aimed at preventing insider trading and conflicts of interest.

Pelosi’s remarks pitted him against some progressives in Congress, who called for banning members from trading in stocks while in office.

“It is absolutely ludicrous that members of Congress can own and trade individual stocks while in office,” said Representative Alexandria Ocasio-Cortez. tweeted last Wednesday. “It shouldn’t be legal for us to trade individual stocks with the information we have.”

In a recent interview, AOC also said it is choosing not to own any stocks or digital assets so that it can “remain impartial in marking policies.”

“We have access to sensitive information and the upcoming policy,” she explained.

Nancy Pelosi defended the trading of members of Congress shares on Wednesday, saying the United States "a free market economy."

Nancy Pelosi on Wednesday defended the stock trading of members of Congress by declaring that the United States is “a market economy”. © IMAGO / ZUMA on the wire

Progressive AOC Senator Elizabeth Warren also called for stricter enforcement of congressional stock laws earlier this week.

There is not yet a ban on federal lawmakers trading individual stocks, and those who break the trading law currently face only a small penalty, if any.

The meager fine, typically $ 200, is also sometimes waived by House or Senate ethics officials.

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President Pelosi’s husband is an investor who frequently trades a large number of stocks. Their common strengths make them one of the the richest members of Congress, with an estimated net worth of $ 46 million.

Her team says she is completely transparent when disclosing her husband’s involvement in the stock market and “has no prior knowledge or subsequent involvement in any transactions.”



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