Posted on 01/11/2022 11:32:00 AM PST by ChicagoConservative27
House Minority Leader Kevin McCarthy (R-CA) may ban lawmakers from holding or trading stocks if he wins the speaker’s gavel in November, a report suggests.
McCarthy’s plan of banning members like House Speaker Nancy Pelosi (D-CA) and Rep. Dan Crenshaw (R-TX) from trading stocks is still under development and undefined as to how far-reaching the limitations would be, Punchbowl News reported.
(Excerpt) Read more at breitbart.com ...
This might explain why so many capital hill retirements recently.
Is he going to ban family members?
The go-around has been in place for a long time.
Your family members can take billions in bribes from foreign nations and entities in trade for influence, what difference does it make if your family members trade your stocks based on your information and your influence?
McCarthy has lost credibility. He’s no longer the right messenger.
We need new blood.
It will take a Constitutional Amendment to make it permanent, but in principle it’s a good idea.
Oh, and i forgot about charitable organizations. Can those trade stocks?
Pandering to beat the band.
At least he knows what we’re ticked off about, even if we know he won’t do any of it.
They’ll just give the insider information to someone in their family or make a profit on it some other way. Maybe we should just elect people who have the moral character not to take advantage of us. But if we keep pulling our politicians out of the lawyer pool, not much chance of that. Scumbags, the whole lot of them.
We will ONLY get new leadership with a new membership.
If we re-elect the 145 that voted for him and Liz Cheney in Feb. we will get the same leadership.
They need to institutionalize it in a way that it’s not undone as soon as democrats retake the house.
This should have been done for elected officials and family decades ago. sheesh.
Exactly. Who needs stocks when you can launder kick backs through your relatives.
Under development?
Just make it a requirement to put all stocks and other investments in a blind trust for the duration of their Congressional service while forbidding them to purchase new stocks for the duration.
New does not necessarily mean better. Just sayin...
How are they going to earn those millions while in public office tho?
Never happen. What is to stop a wife from trading the stocks?
Both R&D politicians get rich from insider trading.It’s a cash cow...the major perk of the job.
Look at all the politicians both R&D who bought stock in Zoom before the shutdown was announced.
Family fun....
Paul Pelosi (hubby of Nancy)
is an American businessman who has a net worth of $120 million. He is best known for owning and operating the San Francisco-based real estate and venture capital investment and consulting firm Financial Leasing Services. Previous owner of two sports teams.
Pelosi also sits on many corporate and philanthropic boards and owns large stakes in companies like Facebook, Apple, Comcast and Disney.
seems like i am behind the times on this. I thought elected officials had to have their investments held in a blind trust? Its pretty obvious that they can get around this in a number of ways, but they are not allowed to hold and direct their own investments, no? If not, when did they change that?
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