Interesting how all of a sudden Nancy Pelosi has a change of tune on congressional stock trading.
Could it be because Donald Trump recently railed the outgoing House Speaker after news broke of her million-dollar profits on company stocks which she’s responsible for regulating?
The level of corruption is astronomical, and her defense even more absurd.
But now, after a majority of American voters expressed their dismay, whack job Nancy is changing course and may even support legislation which prevents congressional stock fraud.
On Thursday, House of Representatives Speaker signaled her willingness to advance legislation that could ban lawmaker stock trades, if her rank-and-file Democrats support such a move.
At her weekly news conference, Pelosi was asked about tightening controls on stock transactions. She responded: “If members (of the House) want to do that, I’m OK with that.”
.@SpeakerPelosi today, while signaling openness to a stock trading ban:
"I do come down always in favor of trusting our members," she says.
"To give a blanket attitude of 'we can't do this, and we can't do that' because we can't be trusted — I just don't buy into that." pic.twitter.com/AHKDfNW3cg
— bryan metzger (@metzgov) January 20, 2022
Currently, representatives are required to disclose stock sale transactions within a prescribed number of days or face penalties. The requirement is aimed at tackling any appearances of a conflict of interest by House members who could be working on legislation affecting companies or certain investors.
Pelosi added that any suspicions of insider trading by members of Congress would be subject to investigation by the U.S. Department of Justice.
Her remarks were a departure from a month ago when she defended lawmakers engaging in stock market trading.
Nancy Pelosi, who’s worth $200 million, is against the prohibition of stock trading for sitting members of Congress – SHOCKER 😑
— 🟢dev DECKER ™️ ✊🏾 (@dev_decker) December 15, 2021
The House Administration Committee, which would have primary jurisdiction over such legislation, is reviewing bills that are being drafted, Pelosi said.
Meantime, Pelosi criticized the U.S. Supreme Court for having lax rules. “When we go forward with anything let’s take the Supreme Court with us to have disclosure,” she said.
According to reports, 54 members of Congress and 182 senior congressional staffers have not disclosed trades in a timely fashion, as mandated under the STOCK Act.
Trump voiced his concern about Pelosi’s financial corruption and tax fraud during an interview last week.
While promoting his new book “Our Journey Together,” Trump was asked about Nancy’s habit of trading stocks for companies which she regulates. His response is hilarious and warranted:
“I think she’s clever is one way — and stone cold crazy,” Trump said .
Author: Sebastian Hayworth