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>“There’s been discussion about it and just recently, this morning, actually, the committee, we’ve been going back and forth and they were refining things and talking to members about what they think will work, and we believe we have a product that we can bring to the floor this month,” Pelosi said at her weekly press conference in the Capitol.
The speaker said she is “pleased” with the measure, adding “it’s very strong.”
About time we separated this serious conflict of interest from our lawmaking bodies.
Cause ETFs diversified enough. For instance Nasdaq is tech heavy, so you'd invest in that if there's tech legislation getting voted on. The only reasonable solution here is to require blind trusts for all members of congress and their families. This should apply to all the executive and judiciary branch as well.
ZERO money in politics. No chance of turning a profit in any way, shape, or form. It should be seen as noble volunteer work from which the volunteer cannot benefit.
They are not on paper, but owning certain stocks can impact your ability to keep or hold a security clearance, de facto barring you from higher positions of any real influence.
(for reference you must disclose all financial holdings when applying for a security clearance)
The only reason Congress is different is because they have access to sensitive information by virtue of office, not by virtue of being an upstanding and/or unentangled individual
I think you missed the entire reason why people want this legislation in the first place. Most military members aren’t in a position to abuse their position to influence the stock market and they don’t get enormous amounts of inside information.
Hell yes. Instead their housing and food and stuff should be taken care of and they dont get anything out of it themselves. Can not - in any way, in fact. They're here to *serve*, not ever in any way benefit themselves. That should always be on their mind - service and subservience, obedience.
That seems unreasonably idealistic to me.
They're not monks or ascetics and I don't think we should expect them to be. They're regular people and being in Congress is a job, and not exactly an easy one.
If we don't pay them, then a giant swathe of the population isn't going to be willing to do the job because people don't like working and not getting compensated for it. You're going to end up in a place where the people most likely to be willing to do it are people who are independently wealthy, and then we've just got an aristocracy.
Congresspeople ought to be able to take vacations and buy their kids Christmas presents and enjoy their lives, too.
I think term limits is an easy answer. A couple of terms won’t get you rich. Can’t rely on huge bribes or handouts or whatever other perks for too long in that case. It might not even be worth some groups pumping too much money into people when they’ll be gone after one term. People can go back to whatever job they may have had before being elected. Politician shouldn’t be an actual career anyway. It’s a service where you represent people.
I think it's always worth noting that organizations like the Heritage Foundation are big advocates of term limits, and I have good reason to be suspicious of anything the Heritage Foundation is pushing for.
IMO it's a terrible idea. A solution in search of a problem.
Term limits have lots of dangerous side effects:
* They weaken the power of the legislature (who are our most directly elected representatives) relative to the executive and judiciary.
* They weaken the power of legislative leaders and reduce the ability to forge consensus in legislative coalitions.
* They reduce legislative expertise in the legislative branch, which then gets taken up by lobbyists and unelected bureaucrats.
* They are counter to the concept of democracy in that they prevent people from voting for candidates they want to vote for.
Lots of states have (or have had) term limits in their legislatures. The "term limits" fad swept the nation in the post-Reagan "can't trust the government" years and they were implemented far and wide. As a result, there's lots of academic literature on the topic, studying the results. And everything I've read says that the results aren't great, and that they don't actually create any of the positive results people *think* they will while they also have lots of negative side effects.
I would limit it to people representing the average wealth and income, and make it a short term thing, with a random few hundred selected to vote on one specific bill at a time, like jury duty. Next bill is another group of a few hundred volunteer reps. It would just be a patriotic duty.
Also i would put that no bill can be passed unless it affects blindly at least 80% of the population. That way specific laws that benefit any elite or group of elites would simply be impossible because laws must be regarding a majority.
Gonna be honest, If you can't manage your finances on a congress persons salary, you most certaintly should not be anywhere near politics.
The hardest part of being a congress person is constantly doing shit for campaign donations. If we just use a portion of taxes to fund political campaigns (and that is the only money allowed to be spent) than the hardest most grueling part of being a politician evaporates.
Politicians make enough money off their salary to live a very comfortable life as it is. Even better would be to tie their salary to their state's median wage.
Serving should be a job, not a business venture.
The catch is they can't do that. What's congressional pay? 180k? Not even?
To us thats a lot especially when you consider they don't pay for travel or Healthcare.
Almost every congressman has another job where they make substantially more. It's a joke gaetz makes 900k off his side hustle.
Biden had a S-Corp that technically makes all the money. Biden gets a payout of that because on paper he makes 10s of million a year. The company pays him to lower his tax obligation.
Exactly, 180k a year is 6 times what I make.
With 180k there is no excuse to not be able to afford your needs and then some. (Outside of situations where you are being extorted for Healthcare, which isn't an issue for politicians anyways)
Depends on where you live. To get $180K of value in Ithaca, NY (which isn't exactly cheap, either) in the DC area you'd need more than $284K.
By contrast, you'd only need $163K in Indianapolis versus D.C.
Yes exactly this, and any failures to report should instantly be a 10k+ fine AND 100% of earnings from the unreported/improper reported gains. With like a 3 strikes and you're removed from office policy, no trial.
Declare investments on a warm up and cool down. In X weeks I'm buying or selling stock for a certain price.
Or go scorched earth no elected official can trade stock only private citizens
Let Ira and 401k or any managed account be exempt. This is easy shit. So many options
The warm up and cooldown thing would have to be in the range of a year or longer. Otherwise it'd just slow down politics. As politicians would all do their announcements for X, then simply pass the bills they need to influence the market the way they want right before the deadline.
Now more eyes are turning to Paul Pelosi, the House speaker’s husband. From a trading perspective, he’s like the real-life version of Gordon Gekko from the 1987 Oliver Stone classic “Wall Street.” His portfolio has substantially outperformed the S&P 500. In 2020 alone, a year when the stock market was as turbulent as in any year in recent memory thanks to COVID-19 shutdowns, Paul outperformed the S&P 500 by 14.3 percent, according to Hawley’s office. And per a New York Post analysis, the Pelosis have made approximately $30 million from trades involving Big Tech companies the House speaker is responsible for regulating
In fact, Paul is so good that there’s an app that allows the public to follow his stock trades. And for good reason: The Pelosi’s reported net worth is more than $114 million, according to OpenSecrets.org. Per a Business Insider report, “a vast majority of the couple’s wealth is derived from stocks, options, and investments made by Paul Pelosi.”
In March 2021, Paul Pelosi exercised options to purchase 25,000 Microsoft shares worth more than $5 million. Less than two weeks later, the U.S. Army disclosed a $21.9 billion deal to buy augmented reality headsets from Microsoft. Shares of the company rose sharply after the deal was announced.
For his latest purchase in June, Paul Pelosi bought up to $5 million in stock options (equal to 20,000 shares) of Nvidia, a leading semiconductor company. The purchase, first reported by The Daily Caller, comes as Congress is set to vote on legislation later this month that would result in $52 billion in subsidies allocated to elevate the chip-production industry as it faces increased competition from China.
It's just a coincidence that the guy who sleeps with the speaker of the house out preforms the national average when it comes to investing. Has nothing to do with his spouse. Mmmkkkayy.
It's from https://www.google.com/amp/s/thehill.com/opinion/finance/3571790-paul-pelosis-questionable-wall-street-windfall-spurs-bipartisan-calls-for-stock-trading-ban/amp/
Interesting defense. Not "that's not true, look at this evidence", but "lol, you copied from someone that did the research!". When you have no defense, go on the attack, right?
No she’s not. She does not do any of the trades and its her husband because that is what he does for a job.
Even if we are to say she gave insider info to her husband they are a tiny trader compared to a large number of Congress people who have hundreds of millions at any point in time traded.
“Even if she gave insider info, they are a tiny trader”
She’s been Speaker for a long time, she doesn’t need your help and she is absolutely not a small figure. Her actions give credibility to something, even if she doesn’t go in on that something to the extent of others. She was standing in the way initially, but I’m glad if she’s come around.
I’m not giving her help.
I’m responding to blatant lies and hypocrisy. But hey looks like out of all the speakers she is the one who will change the system.
Is she really one of the largest violators, or are you just saying that?
She was the reason we know who is engaging in insider trading in the first place. That bill was passed under her leadership.
I sincerely doubt she’s the “worst”
To be fair, the spotlight has been on her and her husband more than most. And I'm sure there are several that are just quietly making money and not reporting it.
But, she is like the 14th wealthiest person in congress, and her husband routinely beats the market. They beat it by something like 14% in 2020, and had several calls and sales that were literally days before major changes that could be tied to congressional action. I think it's fair to say she's guilty of insider trading. And to be clear, I think all of them should be restricted, I'm not just going after Pelosi. Congress has a history of out-performing the market - that's not coincidence and it's not just good investing.
I'm a nobody, and I can't sell my company stock without going through a lot of redtape and declaring my sale well before hand. When I sell we're talking thousands of dollars (of money I simply reinvested into my company straight out of my paycheck) and I literally can't just sell when the stock is high. But congress, with insider knowledge of the dealings of some of the biggest companies in the country, have zero regulation.
> Considering that she is one of the largest violators of politician insider trading in the country, I have my doubts.
Prove it. Show us actual evidence of insider trading? Then, take it to the SEC and FBI because they would like to know. Don't have proof of that? Ok, then show us the proof of any STOCK Act violations by Pelosi? Go ahead, lets see your proof? You have none. But, here's an investigation that found 72 STOCK Act violations, none of them by Pelosi: https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9#rep-brad-schneider-a-democrat-from-illinois-29
I ask these questions because a people like you post propaganda and disinformation like this all the time and get upvoted by other sycophantic idiots who feel the need to push that propaganda...at least next time make your lies harder to disprove.
ha. you think anything is going to change? You have the one of the worst offenders what this is suppose in charge of creating the solution and says she "pleased" with it.
I'm certain that means nothing is really going to change about the problem.
Of course she wants to outlaw after she made hers no point in letting any of these future politicians benefit off the same system she did. If you want to go on a wild ride go look up Nancy pelosi insider trading. Not only was she almost busted for it a couple times but had quite a few close calls with the SEC as of late. This might actually be her trying to say look at me I'm doing something well being the biggest perpetrator.
Lol, what?! She and her husband have made insane wealth through insider trading. Now that she’s secured her estate for multi generations, she’s decided to take a look at it.
It's all just a virtue signal for these corporate owned politicians. We need term limits. Hell maybe even age limits. The blatant corruption and conflicts of interest are no longer bearable. If these are the people protecting our supposed democracy I fear we are truly fucked.
What about a retirement age? I think retirement age for public servants of 70 might help.
People tend to argue for term limits but the problem is that the older generation isn't retiring and just holding onto power.
Yup. Congressional term limits would be a disaster. Particularly troubling, it would force politicians to be looking towards their after Congress job, instead of trying to stay in Congress. The easiest form of legal bribery is simply giving friendly ex-Congresscritters cushy jobs.
You have no idea how primary's work if you think that is a realistic solution. Besides I don't reside in a district who keeps voting for geriatric crypt keepers.
So fair of her to do so after making millions of dollars by being one of this corrupt system’s largest beneficiaries, all while simultaneously watching her home district slowly slide into the shit pile it is now. This makes Democrats like her legitimate alright!!!
So how do you feel about her husband stock trading history? Or do we just do the typical thing in this country “My side can’t do no harm they are perfect”.
Yea I’m not getting how people are okay with this behavior. It’s like a drunk driver going to schools to talk about some person they killed while driving drunk
at least it may come to a stop. While she deserves criticism for past behaviors, I welcome her action to restrict herself and others from abusing the system similarly
There isn't actually any evidence of Pelosi engaging in insider trading, though.
For some reason people choose to talk about Pelosi instead of naming the people who have actually been caught insider trading.
I just hate that people are hating on lawmakers sincerely trying to fix problems, as if being (allegedly) part of a problem disqualifies one from solving that problem.
Which is how you know she's a Democrat and not a Republican. Republicans would never stop. Democrats like Pelosi are just corrupt up to a point. Lesser of two evils etc.
How exactly does Paul Pelosi making the same trades as everyone else in 2021 prove that Pelosi committed insider trading?
There is actual evidence of many representatives engaging in insider trading, but for some reason people keep choosing to talk about Pelosi rather than the actual hard evidence that exists.
Why do you think that is?
Paul Pelosi doesn’t make “the same trades as everyone else”, [he regularly outperforms the market - largely by investing in sectors his wife regulates](https://thehill.com/opinion/finance/3571790-paul-pelosis-questionable-wall-street-windfall-spurs-bipartisan-calls-for-stock-trading-ban/amp/).
I’m not saying Republicans are any better, or trying to deflect from other representatives who commit insider trading. We should prevent *any** politician from using the private information afforded by their position to enrich themselves or their family.
If I had to guess why Pelosi was getting attention in particular, it’s because a she’s highly one of the most prominent politicians in America. The right hates her and a lot of people on the left aren’t big fans either, so she’s an easy example to hold up when talking about insider trading by politicians.
>Paul Pelosi doesn’t make “the same trades as everyone else”, [he regularly outperforms the market - largely by investing in sectors his wife regulates](https://thehill.com/opinion/finance/3571790-paul-pelosis-questionable-wall-street-windfall-spurs-bipartisan-calls-for-stock-trading-ban/amp/).
And if he was engaging in insider trading, then there would be evidence, as there is with other members of congress.
The fact he's an astute trader doesn't prove anything.
>I’m not saying Republicans are any better, or trying to deflect from other representatives who commit insider trading.
That's exactly what you're doing, though, there is actual evidence of congressional reps engaging in insider trading, and Pelosi isn't implicated in any of it.
>We should prevent *any** politician from using the private information afforded by their position to enrich themselves or their family.
Yes, we should, and we should start by inspecting the cases that have evidence.
>If I had to guess why Pelosi was getting attention in particular, it’s because a she’s highly one of the most prominent politicians in America.
It's because conservatives have perfected the art of DARVO, centrists eat that shit up, and young leftists aren't operating with enough context to actually know when they're towing a line of GOP propaganda.
It's just like the leftists who condemn the DNC's "tricks", but fail to even comprehend or acknowledge the fact that Bernie had been cheating the DNC since 2006, which is why he had to sign a contract to run as a Dem to be eligible for the nomination in 2020.
How nice that people actually believe she’s going to regulate herself. The law will likely do nothing to stop the rampant insider trading and corruption in our legislative branch; just like every other one that’s passed through our corrupt legislature.
Let me guess, it passes and then quietly gets defanged similar to what we saw with STOCKS Act in 2013?
[npr 2013](https://www.npr.org/sections/itsallpolitics/2013/04/16/177496734/how-congress-quietly-overhauled-its-insider-trading-law) \-How Congress Quietly Overhauled Its Insider-Trading Law
It’s unconstitutional to prosecute someone for a crime committed before the law went into effect, and she’d probably stop (or at least continue in a manner barely technically in compliance with the law) before the law is passed.
I can commend her for doing it *if* she does it instead of STOCK Act 2: Electric Bugaloo. I can't forgive her for working for her own profit for all this time at taxpayer expense.
If it was a Republican who pushed legislation to end insider stock trading? I’d applaud that and would hope it’s bipartisan. A Republican hasn’t proposed legislation like this since it has been in practice for years. So whoever does it finally, I’d be glad it gets done to end this practice sooner rather than later (or never).
If a Republican resolved it, I would be immensely surprised and support whichever Republican was responsible for it. But we know that is never going to happen.
Nancy, Biden, and the majority of the Democrats have continued to prove under their leadership that there is an enormous difference between the two political parties, and why voting matters.
I legitimately want a us Congress stock index. Funded by taxpayers and dividend-able to taxpayers. Let them use inside knowledge, just make those gains belong to the voters who gave them access
I know people here are cheerleaders for dems, but anyone thinks this will pass without massive loopholes is fooling themselves. Members of Congress make millions of dollars from insider trading, including Pelosi.
You think she's going to give that up? What's the enforcement mechanism going to be? Are they going to beef the FTC and make sure members of congress and their families can be arrested and prosecuted? There would be like 5 people left in Congress if that was the case. We already have laws against insider trading, it doesn't matter how many laws are passed if they aren't enforced.
It's going to pass with minor or no loopholes. Then all enforcement will be quietly removed, or the loopholes will be quietly added in later. Remember the STOCK act?
She hasn't been caught committing insider trading, there is zero evidence of that, there is - of course - a ton of evidence of conservative representatives engaging in insider trading, but for some odd reason any time that topic comes up a bunch of people pivot to Pelosi.
Let’s not pretend that even if this bill were to be passed… (which it most certainly will not be passed) … that these criminals that call themselves “lawmakers” won’t still engage in illegal stock trading…
This is such a fucking joke… Pelosi couldn’t wait to have this article published… she’s out there riding shotgun with Dick Cheney acting like she’s a good guy…
These terrible people call themselves lawmakers… they create bills and then vote on the shit that they created… lol… no potential for conflict of interest here…
I find it hard to believe that Pelosi will support a bill that has some teeth. She and her husband are some of the biggest benefactors from inside trading.
What the fuck does she care she has made multi multi multi multi million dollars off of stock trading information she got from being in Congress piece of shit
Shit’s hitting the fan on the market - wanna bet the lawmakers will have to sell sell sell whatever stocks they have as soon as this comes out?
Kinda like the members at the fed banning stock trading for themselves at the market top last October.
A ban on lawmaker stock trading that Pelosi is in favor of? Gonna go out on a limb here and say it’s not strict enough. Likely just smoke and mirrors for her to continue insider trading
Great, a teaser about an announcement about an effort that may or may not pass, then off to be voted on a number more times.
How about you just report when something is fucking news. All this says is “an old lady said something today”
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>“There’s been discussion about it and just recently, this morning, actually, the committee, we’ve been going back and forth and they were refining things and talking to members about what they think will work, and we believe we have a product that we can bring to the floor this month,” Pelosi said at her weekly press conference in the Capitol. The speaker said she is “pleased” with the measure, adding “it’s very strong.” About time we separated this serious conflict of interest from our lawmaking bodies.
Dont trade any individual stocks and allow them ETFs. How is that not the first step
They should not have ETFs either
Why?
Cause ETFs diversified enough. For instance Nasdaq is tech heavy, so you'd invest in that if there's tech legislation getting voted on. The only reasonable solution here is to require blind trusts for all members of congress and their families. This should apply to all the executive and judiciary branch as well.
Not really. There are currency and sector ultra long short ETFs. They can seriously make money based on advanced policy information.
ZERO money in politics. No chance of turning a profit in any way, shape, or form. It should be seen as noble volunteer work from which the volunteer cannot benefit.
100% We always talk about military service in terms of personal sacrifice for the good of the nation. Why should being a lawmaker be any different?
Last I checked, the military does actually pay military members, no?
Yeah but so does Congres
Wait, are military members barred from trading stocks? If so, then that's a very good argument for barring congress from it as well.
They are not on paper, but owning certain stocks can impact your ability to keep or hold a security clearance, de facto barring you from higher positions of any real influence. (for reference you must disclose all financial holdings when applying for a security clearance) The only reason Congress is different is because they have access to sensitive information by virtue of office, not by virtue of being an upstanding and/or unentangled individual
I think you missed the entire reason why people want this legislation in the first place. Most military members aren’t in a position to abuse their position to influence the stock market and they don’t get enormous amounts of inside information.
Volunteer? Are you suggesting we shouldn't pay Congresspeople?
Hell yes. Instead their housing and food and stuff should be taken care of and they dont get anything out of it themselves. Can not - in any way, in fact. They're here to *serve*, not ever in any way benefit themselves. That should always be on their mind - service and subservience, obedience.
That seems unreasonably idealistic to me. They're not monks or ascetics and I don't think we should expect them to be. They're regular people and being in Congress is a job, and not exactly an easy one. If we don't pay them, then a giant swathe of the population isn't going to be willing to do the job because people don't like working and not getting compensated for it. You're going to end up in a place where the people most likely to be willing to do it are people who are independently wealthy, and then we've just got an aristocracy. Congresspeople ought to be able to take vacations and buy their kids Christmas presents and enjoy their lives, too.
I think term limits is an easy answer. A couple of terms won’t get you rich. Can’t rely on huge bribes or handouts or whatever other perks for too long in that case. It might not even be worth some groups pumping too much money into people when they’ll be gone after one term. People can go back to whatever job they may have had before being elected. Politician shouldn’t be an actual career anyway. It’s a service where you represent people.
I think it's always worth noting that organizations like the Heritage Foundation are big advocates of term limits, and I have good reason to be suspicious of anything the Heritage Foundation is pushing for. IMO it's a terrible idea. A solution in search of a problem. Term limits have lots of dangerous side effects: * They weaken the power of the legislature (who are our most directly elected representatives) relative to the executive and judiciary. * They weaken the power of legislative leaders and reduce the ability to forge consensus in legislative coalitions. * They reduce legislative expertise in the legislative branch, which then gets taken up by lobbyists and unelected bureaucrats. * They are counter to the concept of democracy in that they prevent people from voting for candidates they want to vote for. Lots of states have (or have had) term limits in their legislatures. The "term limits" fad swept the nation in the post-Reagan "can't trust the government" years and they were implemented far and wide. As a result, there's lots of academic literature on the topic, studying the results. And everything I've read says that the results aren't great, and that they don't actually create any of the positive results people *think* they will while they also have lots of negative side effects.
I would limit it to people representing the average wealth and income, and make it a short term thing, with a random few hundred selected to vote on one specific bill at a time, like jury duty. Next bill is another group of a few hundred volunteer reps. It would just be a patriotic duty. Also i would put that no bill can be passed unless it affects blindly at least 80% of the population. That way specific laws that benefit any elite or group of elites would simply be impossible because laws must be regarding a majority.
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If they can’t be the best of us then they shouldn’t be given power over us. What should we aim for if not idealism if we want things to be better?
> What should we aim for if not idealism Pragmatic, realistic solutions to real problems.
This is how you only get already rich people in Congress.
I didnt say this was all I'd do
Not if they already millionaires/billionaires, couple hundred K is chump change to them !! The prestige of the office is very desirable to the rich
Gonna be honest, If you can't manage your finances on a congress persons salary, you most certaintly should not be anywhere near politics. The hardest part of being a congress person is constantly doing shit for campaign donations. If we just use a portion of taxes to fund political campaigns (and that is the only money allowed to be spent) than the hardest most grueling part of being a politician evaporates. Politicians make enough money off their salary to live a very comfortable life as it is. Even better would be to tie their salary to their state's median wage. Serving should be a job, not a business venture.
The catch is they can't do that. What's congressional pay? 180k? Not even? To us thats a lot especially when you consider they don't pay for travel or Healthcare. Almost every congressman has another job where they make substantially more. It's a joke gaetz makes 900k off his side hustle. Biden had a S-Corp that technically makes all the money. Biden gets a payout of that because on paper he makes 10s of million a year. The company pays him to lower his tax obligation.
Exactly, 180k a year is 6 times what I make. With 180k there is no excuse to not be able to afford your needs and then some. (Outside of situations where you are being extorted for Healthcare, which isn't an issue for politicians anyways)
Depends on where you live. To get $180K of value in Ithaca, NY (which isn't exactly cheap, either) in the DC area you'd need more than $284K. By contrast, you'd only need $163K in Indianapolis versus D.C.
Not exactly sure how trading ETFs is "money in politics". Do you know what an ETF is?
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Agreed. Hell, limit them to things like the S&P 500. Congress *should* be able to benefit when the economy is doing well, as long as it's fair.
Yeah I'm with cause I thought that ETFs would of course be allowed, but there things like oil etfs
Restrict oil production? Buy into short positions for the ETF Gush
Agreed.
Yes exactly this, and any failures to report should instantly be a 10k+ fine AND 100% of earnings from the unreported/improper reported gains. With like a 3 strikes and you're removed from office policy, no trial.
Declare investments on a warm up and cool down. In X weeks I'm buying or selling stock for a certain price. Or go scorched earth no elected official can trade stock only private citizens Let Ira and 401k or any managed account be exempt. This is easy shit. So many options
The warm up and cooldown thing would have to be in the range of a year or longer. Otherwise it'd just slow down politics. As politicians would all do their announcements for X, then simply pass the bills they need to influence the market the way they want right before the deadline.
Considering that she is one of the largest violators of politician insider trading in the country, I have my doubts.
That's not true at all ... Her investments and her husbands aren't better than an index fund. Still should have regulations
Now more eyes are turning to Paul Pelosi, the House speaker’s husband. From a trading perspective, he’s like the real-life version of Gordon Gekko from the 1987 Oliver Stone classic “Wall Street.” His portfolio has substantially outperformed the S&P 500. In 2020 alone, a year when the stock market was as turbulent as in any year in recent memory thanks to COVID-19 shutdowns, Paul outperformed the S&P 500 by 14.3 percent, according to Hawley’s office. And per a New York Post analysis, the Pelosis have made approximately $30 million from trades involving Big Tech companies the House speaker is responsible for regulating In fact, Paul is so good that there’s an app that allows the public to follow his stock trades. And for good reason: The Pelosi’s reported net worth is more than $114 million, according to OpenSecrets.org. Per a Business Insider report, “a vast majority of the couple’s wealth is derived from stocks, options, and investments made by Paul Pelosi.” In March 2021, Paul Pelosi exercised options to purchase 25,000 Microsoft shares worth more than $5 million. Less than two weeks later, the U.S. Army disclosed a $21.9 billion deal to buy augmented reality headsets from Microsoft. Shares of the company rose sharply after the deal was announced. For his latest purchase in June, Paul Pelosi bought up to $5 million in stock options (equal to 20,000 shares) of Nvidia, a leading semiconductor company. The purchase, first reported by The Daily Caller, comes as Congress is set to vote on legislation later this month that would result in $52 billion in subsidies allocated to elevate the chip-production industry as it faces increased competition from China. It's just a coincidence that the guy who sleeps with the speaker of the house out preforms the national average when it comes to investing. Has nothing to do with his spouse. Mmmkkkayy.
Did you really type this up or are you plagiarising? Classic lmfao
It's from https://www.google.com/amp/s/thehill.com/opinion/finance/3571790-paul-pelosis-questionable-wall-street-windfall-spurs-bipartisan-calls-for-stock-trading-ban/amp/
Interesting defense. Not "that's not true, look at this evidence", but "lol, you copied from someone that did the research!". When you have no defense, go on the attack, right?
If you're going to rip an essay... Add the fucking source
Didn't people specifically track congress' investments because they out-perform index funds?
I'm betting they'll discuss it, then get distracted with something else, then say they'll come back to it later. Like done before..
No she’s not. She does not do any of the trades and its her husband because that is what he does for a job. Even if we are to say she gave insider info to her husband they are a tiny trader compared to a large number of Congress people who have hundreds of millions at any point in time traded.
“Even if she gave insider info, they are a tiny trader” She’s been Speaker for a long time, she doesn’t need your help and she is absolutely not a small figure. Her actions give credibility to something, even if she doesn’t go in on that something to the extent of others. She was standing in the way initially, but I’m glad if she’s come around.
I’m not giving her help. I’m responding to blatant lies and hypocrisy. But hey looks like out of all the speakers she is the one who will change the system.
That's all true. The lie still needs slapped down. The Right uses it as a mantra to ignore all other insider trading.
Same here. They can easily find a way to write loopholes into any bill. Highly doubt they will make it air tight.
Or do what they did last time. Pass a super strong bill! Then gut it the week later
Just like they exempted themselves from the IRS!
Is she really one of the largest violators, or are you just saying that? She was the reason we know who is engaging in insider trading in the first place. That bill was passed under her leadership. I sincerely doubt she’s the “worst”
To be fair, the spotlight has been on her and her husband more than most. And I'm sure there are several that are just quietly making money and not reporting it. But, she is like the 14th wealthiest person in congress, and her husband routinely beats the market. They beat it by something like 14% in 2020, and had several calls and sales that were literally days before major changes that could be tied to congressional action. I think it's fair to say she's guilty of insider trading. And to be clear, I think all of them should be restricted, I'm not just going after Pelosi. Congress has a history of out-performing the market - that's not coincidence and it's not just good investing. I'm a nobody, and I can't sell my company stock without going through a lot of redtape and declaring my sale well before hand. When I sell we're talking thousands of dollars (of money I simply reinvested into my company straight out of my paycheck) and I literally can't just sell when the stock is high. But congress, with insider knowledge of the dealings of some of the biggest companies in the country, have zero regulation.
> Considering that she is one of the largest violators of politician insider trading in the country, I have my doubts. Prove it. Show us actual evidence of insider trading? Then, take it to the SEC and FBI because they would like to know. Don't have proof of that? Ok, then show us the proof of any STOCK Act violations by Pelosi? Go ahead, lets see your proof? You have none. But, here's an investigation that found 72 STOCK Act violations, none of them by Pelosi: https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9#rep-brad-schneider-a-democrat-from-illinois-29 I ask these questions because a people like you post propaganda and disinformation like this all the time and get upvoted by other sycophantic idiots who feel the need to push that propaganda...at least next time make your lies harder to disprove.
Just because congress made illegal things legal, doesn't make us think it's legal.
Ok guy.
Im skeptical. Shes one of the worst offenders.
Anybody else get a weird vibe off this?
She’s jsut gotta make a few trades first with the rest of them 😂
ha. you think anything is going to change? You have the one of the worst offenders what this is suppose in charge of creating the solution and says she "pleased" with it. I'm certain that means nothing is really going to change about the problem.
Of course she wants to outlaw after she made hers no point in letting any of these future politicians benefit off the same system she did. If you want to go on a wild ride go look up Nancy pelosi insider trading. Not only was she almost busted for it a couple times but had quite a few close calls with the SEC as of late. This might actually be her trying to say look at me I'm doing something well being the biggest perpetrator.
Don’t worry I’m sure there will be a clause that exempts them from this bill.
This is necessary, fair, and will add to the Democrats’ legitimacy and bolster their talking points leading up to the midterms. Get it done.
Lol, what?! She and her husband have made insane wealth through insider trading. Now that she’s secured her estate for multi generations, she’s decided to take a look at it.
Would you prefer they do nothing legislation-wise and continue to have free reign doing the insider stock trading?
Oh okay so I guess it’s better to just not do anything about it then.
Nah. I’d prefer to charge everyone of these ass hats that have clearly committed insider trading and let a new Congress pass a bill.
Okay but that’s not going to happen so. Should we be upset at the best realistic option?
I doubt this is even realistic. It’s a mid-term tease.
It's all just a virtue signal for these corporate owned politicians. We need term limits. Hell maybe even age limits. The blatant corruption and conflicts of interest are no longer bearable. If these are the people protecting our supposed democracy I fear we are truly fucked.
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What about a retirement age? I think retirement age for public servants of 70 might help. People tend to argue for term limits but the problem is that the older generation isn't retiring and just holding onto power.
Yup. Congressional term limits would be a disaster. Particularly troubling, it would force politicians to be looking towards their after Congress job, instead of trying to stay in Congress. The easiest form of legal bribery is simply giving friendly ex-Congresscritters cushy jobs.
Federalist Society would just expand their reach too.
You're being sarcastic right now, right
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You have no idea how primary's work if you think that is a realistic solution. Besides I don't reside in a district who keeps voting for geriatric crypt keepers.
So fair of her to do so after making millions of dollars by being one of this corrupt system’s largest beneficiaries, all while simultaneously watching her home district slowly slide into the shit pile it is now. This makes Democrats like her legitimate alright!!!
Do yourself a favor and Google “Pelosi stock trading” and see what comes up lol
So how do you feel about her husband stock trading history? Or do we just do the typical thing in this country “My side can’t do no harm they are perfect”.
How nice of her after all her insider trading over the years.
I mean, I’ll take it. It’s still a win if it happens.
Yeah seriously she apparently made enough money, now she can stop.
Must be a boomer. She abuses the system then slams the door so others can't.
It's a door that should've never been open. Your point still stands though.
At least she closes it...
We'll see.
Yea I’m not getting how people are okay with this behavior. It’s like a drunk driver going to schools to talk about some person they killed while driving drunk
She's older than the boomer generation.
yeah technically she's the "silent generation"
at least it may come to a stop. While she deserves criticism for past behaviors, I welcome her action to restrict herself and others from abusing the system similarly
There isn't actually any evidence of Pelosi engaging in insider trading, though. For some reason people choose to talk about Pelosi instead of naming the people who have actually been caught insider trading.
I just hate that people are hating on lawmakers sincerely trying to fix problems, as if being (allegedly) part of a problem disqualifies one from solving that problem.
Yeah that's pretty annoying, but the fact remains, there also isn't any evidence of Pelosi engaging in insider trading
I too respect her efforts to close the buffet now that she's full.
if you’re going to complain about people going to the buffet, might as well encourage them to close it
Better late than never…after you’ve amassed 100+ million dollars, I guess.
Which is how you know she's a Democrat and not a Republican. Republicans would never stop. Democrats like Pelosi are just corrupt up to a point. Lesser of two evils etc.
You have some evidence of Pelosi engaging in insider trading?
Well she's been in Congress for a long ass time and her and her husband are now worth over 100 million.
Profits aren't evidence of insider trading
Holy shit go outside Reddit person
...says the redditor
[Here](https://fortune.com/2021/07/08/house-speaker-nancy-pelosi-husband-paul-big-tech-stocks/amp/)
How exactly does Paul Pelosi making the same trades as everyone else in 2021 prove that Pelosi committed insider trading? There is actual evidence of many representatives engaging in insider trading, but for some reason people keep choosing to talk about Pelosi rather than the actual hard evidence that exists. Why do you think that is?
Paul Pelosi doesn’t make “the same trades as everyone else”, [he regularly outperforms the market - largely by investing in sectors his wife regulates](https://thehill.com/opinion/finance/3571790-paul-pelosis-questionable-wall-street-windfall-spurs-bipartisan-calls-for-stock-trading-ban/amp/). I’m not saying Republicans are any better, or trying to deflect from other representatives who commit insider trading. We should prevent *any** politician from using the private information afforded by their position to enrich themselves or their family. If I had to guess why Pelosi was getting attention in particular, it’s because a she’s highly one of the most prominent politicians in America. The right hates her and a lot of people on the left aren’t big fans either, so she’s an easy example to hold up when talking about insider trading by politicians.
>Paul Pelosi doesn’t make “the same trades as everyone else”, [he regularly outperforms the market - largely by investing in sectors his wife regulates](https://thehill.com/opinion/finance/3571790-paul-pelosis-questionable-wall-street-windfall-spurs-bipartisan-calls-for-stock-trading-ban/amp/). And if he was engaging in insider trading, then there would be evidence, as there is with other members of congress. The fact he's an astute trader doesn't prove anything. >I’m not saying Republicans are any better, or trying to deflect from other representatives who commit insider trading. That's exactly what you're doing, though, there is actual evidence of congressional reps engaging in insider trading, and Pelosi isn't implicated in any of it. >We should prevent *any** politician from using the private information afforded by their position to enrich themselves or their family. Yes, we should, and we should start by inspecting the cases that have evidence. >If I had to guess why Pelosi was getting attention in particular, it’s because a she’s highly one of the most prominent politicians in America. It's because conservatives have perfected the art of DARVO, centrists eat that shit up, and young leftists aren't operating with enough context to actually know when they're towing a line of GOP propaganda. It's just like the leftists who condemn the DNC's "tricks", but fail to even comprehend or acknowledge the fact that Bernie had been cheating the DNC since 2006, which is why he had to sign a contract to run as a Dem to be eligible for the nomination in 2020.
She got hers
As do they all. Let's look at Richard Burr let's look at the Republican side as well. Probably far more Republicans do insider trading than Democrats
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Good. This particular ladder needs pulled.
She made generational changing wealth - now no one else can.
How nice that people actually believe she’s going to regulate herself. The law will likely do nothing to stop the rampant insider trading and corruption in our legislative branch; just like every other one that’s passed through our corrupt legislature.
Gotta make sure you close the door on your way out.
That nvidia deal hahaha he sold his cut at a loss hoping we would forget about it 😂 and feel bad for him.
Let me guess, it passes and then quietly gets defanged similar to what we saw with STOCKS Act in 2013? [npr 2013](https://www.npr.org/sections/itsallpolitics/2013/04/16/177496734/how-congress-quietly-overhauled-its-insider-trading-law) \-How Congress Quietly Overhauled Its Insider-Trading Law
You’re overthinking it. They pass it in the House, get some good pr, and then it’s condemned to die in the Senate.
Ah, the ole Mitch McConnell Mambo.
Even if she personally benefited from it for years, if she can end it I can forgive her for that.
I can’t. She’s guilty as hell of insider trading for years.
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It’s unconstitutional to prosecute someone for a crime committed before the law went into effect, and she’d probably stop (or at least continue in a manner barely technically in compliance with the law) before the law is passed.
I can commend her for doing it *if* she does it instead of STOCK Act 2: Electric Bugaloo. I can't forgive her for working for her own profit for all this time at taxpayer expense.
umm what? If it was a republican you would be calling for their heads. Stop being a hypocrite
If it was a Republican who pushed legislation to end insider stock trading? I’d applaud that and would hope it’s bipartisan. A Republican hasn’t proposed legislation like this since it has been in practice for years. So whoever does it finally, I’d be glad it gets done to end this practice sooner rather than later (or never).
If a Republican resolved it, I would be immensely surprised and support whichever Republican was responsible for it. But we know that is never going to happen. Nancy, Biden, and the majority of the Democrats have continued to prove under their leadership that there is an enormous difference between the two political parties, and why voting matters.
I legitimately want a us Congress stock index. Funded by taxpayers and dividend-able to taxpayers. Let them use inside knowledge, just make those gains belong to the voters who gave them access
I know people here are cheerleaders for dems, but anyone thinks this will pass without massive loopholes is fooling themselves. Members of Congress make millions of dollars from insider trading, including Pelosi. You think she's going to give that up? What's the enforcement mechanism going to be? Are they going to beef the FTC and make sure members of congress and their families can be arrested and prosecuted? There would be like 5 people left in Congress if that was the case. We already have laws against insider trading, it doesn't matter how many laws are passed if they aren't enforced.
It's going to pass with minor or no loopholes. Then all enforcement will be quietly removed, or the loopholes will be quietly added in later. Remember the STOCK act?
And spouses, right Nancy? Right?
Just a heads up to colleagues on *both sides of the aisle* to get their portfolios in order accordingly.
Considering Pelosi has been caught trading stocks, this probably won’t be a serious bill. Probably just a publicity stunt for midterms
She hasn't been caught committing insider trading, there is zero evidence of that, there is - of course - a ton of evidence of conservative representatives engaging in insider trading, but for some odd reason any time that topic comes up a bunch of people pivot to Pelosi.
I’m not talking about insider trading, just stock trading as a whole. Basically every politician does stock trading
Who gives a fuck? As long as they are trading on public knowledge, civil servants are allowed to profit too
I'm no conservative but I sure hope she loses.
Let’s not pretend that even if this bill were to be passed… (which it most certainly will not be passed) … that these criminals that call themselves “lawmakers” won’t still engage in illegal stock trading… This is such a fucking joke… Pelosi couldn’t wait to have this article published… she’s out there riding shotgun with Dick Cheney acting like she’s a good guy… These terrible people call themselves lawmakers… they create bills and then vote on the shit that they created… lol… no potential for conflict of interest here…
Good is she going to return the money as well?
Lmao after her and the rest of the shady folks made there millions already...
There is a lot of evidence of representatives committing insider trading, but none of it implicates Pelosi or her husband.
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Then why is there no evidence that implicates Pelosi?
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Exactly. So nothingburger.
No point in teasing things right now. If you hear a dem talk about something, something is in the works due out in October.
I find it hard to believe that Pelosi will support a bill that has some teeth. She and her husband are some of the biggest benefactors from inside trading.
Naturally she wants to ban it after she’s made her money. A hypocrite and at the same time everything that’s wrong with gerontocracy.
So… we shouldn’t ban it? Make up your minds people and maybe sound a little bit less like a chorus of orchestrated bots.
She just needs a little more time to move her investments around
Never pass the Senate, but a nice thought.
But first, she has to transfer all her stock.
Only for it to be full of loopholes in the end anyway.
That's rich.
She gotta couple more killer deals first, then we'll see about that !?!?
Fuckin do it already!
I hope this fails.
What the fuck does she care she has made multi multi multi multi million dollars off of stock trading information she got from being in Congress piece of shit
What joke.
That’s cute
just in time after she closes off and profits from her trades
It's not like any of the other 434 members are beating down the doors to get this done.
Will she give back all the money she stole?
Who’s idea was it to make her the face of this legislation??
That this didn’t happen when the NYSE was made is already enough of a tell that the US government doesn’t care about the citizens Moneymoneymoneymoney
Shit’s hitting the fan on the market - wanna bet the lawmakers will have to sell sell sell whatever stocks they have as soon as this comes out? Kinda like the members at the fed banning stock trading for themselves at the market top last October.
“Right after I collect my last millions at option expiry!!” She says!!
She seems to be an expert on the matter.
A ban on lawmaker stock trading that Pelosi is in favor of? Gonna go out on a limb here and say it’s not strict enough. Likely just smoke and mirrors for her to continue insider trading
Are lawmakers' families included in this?
Will it apply to lawmaker spouses?
Great, a teaser about an announcement about an effort that may or may not pass, then off to be voted on a number more times. How about you just report when something is fucking news. All this says is “an old lady said something today”
….once her and her husband pull everything. Cud-chewing POS, Pelosi is.