Speaker of The House Nancy Pelosi(D-CA) said at a Press Conference that she did not support a ban on lawmakers owning stocks.
At a weekly press conference, Speaker of the House Nancy Pelosi (D-Calif.) defended stock market investment by members of Congress after an investigation by Insider alleged that 49 members of Congress have violated laws against insider trading.
“No,” Pelosi said quickly. “We have a responsibility to report [our trades] … [and] if people aren’t reporting, they should be.”
Pressed to explain her “no,” Pelosi argued, “Because we’re a free market economy. [Members of Congress] should be able to participate in that.”
WATCH-Pelosi says she does not support a ban on Congress members trading stocks
The real reason for this has nothing to do with supporting a “free market economy.”
In fact, her whole career has been fighting against a free market economy for most Americans.
The real reason is that she has made millions off it.
Like many others in Congress, Pelosi and her husband, Paul Pelosi, a San Francisco real estate investment mogul, have poured tons of money into the stock market and profited millions off of shares largely staked in Big Tech stocks such as Alphabet, Google’s parent company. According to disclosure forms collected in the House, Pelosi has reported holding stocks in Microsoft, Roblox, Netflix, and recently sold Facebook and Apple shares.
Pelosi isn’t the only member of Congress who makes money off of trading on some of the same companies that are regularly called to testify in front of her chamber’s committees. A recent report from Insider found that 49 other legislators not only frequently involved themselves in stock trades but also failed to disclose their dealings in accordance with the STOCK Act in a timely manner or at all. The list is filled with Republicans and Democrats who, despite the law designed to curb any insider trading and conflicts of interest, “offer excuses including ignorance of the law, clerical errors, and mistakes by an accountant” to justify their lack of financial disclosures.
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions. You can help us beat Big Tech by following us on GETTR , Telegram, and Rumble.
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