Posted on 10/05/2022 5:00:20 PM PDT by simpson96
House Speaker Nancy Pelosi (D., Calif.) has seen her net worth increase by $140 million since the 2008 financial crisis thanks in no small part to her husband’s fortuitous trades in companies she has worked to subsidize. Now, she's trying to pull up the ladder behind her: In what may be her final months as a member of Congress, she’s backing a proposal that would prohibit her colleagues from buying or selling individual stocks.
Pelosi scoffed at the idea of banning lawmakers from trading individual stocks as recently as December, saying that she and her colleagues should be able to fully participate in the free market economy. After rejecting similar proposals, Pelosi is throwing her weight behind legislation that would ban stock trading among members of Congress and other senior government officials.
(snip)
Even Pelosi’s late-stage about-face is not enough to pacify her progressive critics. Rep. Abigail Spanberger (D., Va.) says the speaker and Democratic leadership only put the bill forward because they knew it would fail.
The bill "was written to create confusion surrounding reform efforts and complicate a straightforward reform priority," Spanberger said in a statement on Friday, "all while creating the appearance that House Leadership wanted to take action."
Pelosi’s portfolio has performed remarkably well during periods of financial turmoil, her financial disclosures show. Her estimated net worth skyrocketed at the onset of the Great Recession, going from $31.4 million in 2008 to $101.1 million in 2010, a 220 percent increase in a window where the S&P 500 decreased by 13 percent. The speaker also reaped a significant return during the COVID-19 pandemic, seeing her estimated net worth jump from $106 million in 2019 to $171.4 million in 2021, an increase of 60 percent.
(Excerpt) Read more at freebeacon.com ...
Seems as if she consulted Hillary! on some trades.
Actually, they need to keep trading.
They’ll lose a lot of money in 2023, as the bankers get rid of the speculative rot that “cheap money” brings.
I dont care what Pelosi did, these crooks should be banned from insider trading like the rest of us. They should give up all the earnings too. Regardless, they will not sign this into law. No way, no how.
Congress only acts when they get embarrassed by getting headlines for their corruption and lies. And then they act to make sure they don't get those headlines anymore. Exhibit A: Republicans refused to cancel Obamacare and took a beating from the base. So now they simply run on nothin, ensuring they are never held accountable for anything.
Want to bet there is a grand-hag clause in the effort?
You are correct sir, unfortunately.
They would just give their assets to their relatives to trade on their behalf and do inside trading that way, as they have been doing.
Must be an election coming up.
This 0nly shows that we are truly a corrupt 3rd world country.
Any ban on trading or term limits must include highest level Fed.gov bureaucrats.
Just look at the likes of Fauci and his wife - 40 years in the same position, with no oversight, and richer than almost any congressman.
Ban it. Now. These people vile people got rich, yes, but ban it going forward.
She is not actually rich. A day is coming soon when she will own nothing. The deceitfulness of riches.
I pray this POS dies before me, as I so look forward to celebrating her death. She has done so much damage to this country, and she’s so effing stupid.
Insider Trading made the Pelosi’s rich. They could not have done it without cheating.
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