Pelosi adamant when asked if the stock trading ban covers spouses

Nancy Pelosi’s stock trade has caused such outrage that she, after defending Congress day trading as one of the “free market’s” blessings, has backed down and called for an end to it. stop this activity.

But, while she’s now beginning to say the right thing when asked why members of Congress can buy and sell stocks based on information only they know, she is holding an important stake. importance of such a measure, in part that, without it, the ban on securities trading would not be in effect.

It’s a ban on spouses of members of the National Assembly stock trading. Without a ban on trading their stocks, the likes of Dan Crenshaw or Nancy Pelosi, members of Congress who made some big profits from their portfolios last year, could simply call give their better half and say what to buy or sell and when.

Nancy Pelosi has been suspected of doing that. Her husband, Paul Pelosi, earn millions shut off tech stock options at a time when Pelosi is reportedly working on a bill to rein in Big Tech. Pelosi and her husband also bought millions of call options shortly after Pelosi defended congressional stock trading.

So, if Congress’ stock trading ban doesn’t cover a spouse, they can ask the spouse to do the trades they had planned to do.

That may be why Pelosi, although she nominally supports banning members of Congress from individual stock trading, started to worry when asked if she supported such a ban. to spouses of members of Congress or not.

Right now, as Just a News reportrelated bill, the Conflicting Transactions Prohibition Act”prohibit a Member of Congress or certain officers or employees of Congress from (1) buying or selling specific investments, (2) entering into a transaction that creates a net short position in a security, or (3) act as an employee or member of any board of directors of any for-profit organization.

You will notice that the act does not include a spouse. So a reporter asked Pelosi if when the House passes the bill, it will apply to spouses as well as members. She declined to give a straight answer, saying:

I have great confidence in our committees and we have tasked the House Management Committee with looking at the choices members are making – and they have different views on the subject. But I was told that certain criteria I want to see is whatever – whatever design they have for that, it’s one. But the other problem is that we have to tighten the fines for those who violate the STOCK Act. It doesn’t seem to be enough to stop the behavior.

She then tried to throw reporters a red herring, noting that the Supreme Court did not have a ban on stock trading, saying:

“It has no reports of stock transactions. And it makes important decisions every day. I believe in the integrity of those in public service. I want the public to have that understanding. We have to do this to prevent something we consider a problem, but it’s a matter of confidence. And if that’s what the members want to do, then that’s what we’ll do.

So she never answered the question. That means her answer is no, she wants her husband to continue making millions in tech stocks as she considers herself an anti-corruption fighter. Pelosi adamant when asked if the stock trading ban covers spouses

James Brien

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