OPINION: This article contains commentary which may reflect the author's opinion
Radical US Senator leftist Elizabeth Warren (D-NH), after a month of threatening lawmakers over abortion rights, is calling for state lawmakers to be banned from trading individual stocks.
The move is bi-partisan, something US Senator Josh Hawley called for considering in June of 2022. However, until recently, Democrats had been dragging their feet on the issue.
Warren, a former Presidential candidate, is joined by other Democrats who may be hoping to re-image the failing Democrat party after US Speaker- radical- Nancy Pelosi (D-CA) thoroughly overplayed her privilege card when her husband bought up a massive amount of stocks that conveniently matched with primary bi-partisan legislation that was about to be passed in the US House, with certainty it would reach Democrat Joe Biden and be signed.
Pelosi’s hubby, Paul, became the focus of national attention in June while he was fighting off a very public Drunk driving charge- making his long history of stock purchases and insider trading skills even more scrutinized.“
“In 2020 Speaker Pelosi and her husband outperformed the S&P 500 by a whopping 14.3 percent,” Hawley said in a recent letter demanding action.
“A report showed that 90 percent of investment funds that are actively managed do not do that,” The Daily Mail said in reaction to Hawley’s letter. It appears that Nancy Pelosi was ignoring the concerns of other lawmakers.
Speaker Pelosi made viral news at the same time with her clownish and childish denials that her husband benefited from her insider provided:
Nancy Pelosi was asked about her husband’s stock trading during one of her weekly press briefings.
“Has your husband ever made a stock purchase or sale based on info received from you?” the reporter said to a flustered Speaker.
“No! Absolutely not, okay, thank you,” she said as she hurried off the stage.
"Has your husband ever made a stock purchase or sale based on information he's received from you?"
— Grand Opportunity USA – GOUSA (@Opportunity4USA) July 21, 2022
Democrat Leadership’s goal is to get the legislation through the House in September, according to Punchbowl News, right before the historic mid-term elections in November.
Rep. Zoe Lofgren, D-Calif., head of the House Administration Committee, has been tasked with reviewing the different proposals and told DailyMail.com on Friday the framework would be out ‘in the coming weeks.’
That action comes after months of Republic interest in the same movement.
“This issue of whether and how Members of Congress engage in various financial transactions deserves scrutiny by the Committee,’ Sen. Josh Hawley said in a letter to Sen. Gary Peters, chair of the Homeland Security and Government Affairs Committee, in a June letter.
“It has been more than six months since members of this Committee proposed measures to put an end to inappropriate financial transactions. Despite these efforts, Speaker Pelosi and her husband remain undeterred from cashing in,” wrote Senator Hawley.
“More than 70% of Americans agree that this is unacceptable and that Congress shouldn’t be trading stocks at all. After all, clean government in Washington begins with Members of Congress putting the American people first—and not lining their own pockets.”
“This issue of whether and how Members of Congress engage in various financial transactions deserves scrutiny by the Committee. For example, recent reports show that Speaker Pelosi’s family continues to engage in what is arguably inappropriate stock trading activities. According to reports, her husband Paul Pelosi recently purchased 20,000 shares of Nvidia, a multinational semiconductor company worth between $1 million and $5 million. This trade came ahead of a likely vote in the Senate to set aside $52 billion to boost domestic semiconductor manufacturing and give tax credits for production.”
From Hawley’s letter about Pelosi’s questionable trade:
“This specific trade raises serious questions, but it’s nothing new. Last year, Speaker Pelosi’s most significant financial gains came from her husband exercising options to purchase shares of Google just one week before the House Judiciary Committee held a hearing on antitrust legislation that would impact Big Tech companies. In 2020, Speaker Pelosi and her husband outperformed the S&P 500 by a whopping 14.3 percent.
Members on both sides of the aisle have introduced legislation to address this problem. My bill and others were referred to the Committee. This suggests that there is a clear interest from our colleagues in taking action to address unethical stock trades. An oversight hearing would provide an opportunity to debate these various proposals and determine points of consensus to move forward.
Speaker Pelosi was not in favor of any ban but in February; she changed her opinion if it involved the entire government,” The Conservative Brief reported.
“It has to be government-wide,” Pelosi said. “The judiciary has no reporting. The Supreme Court has no disclosure. It has no reporting of stock transactions, and it makes important decisions every day.”
“We’re a free market economy,” Pelosi said in December. “[Lawmakers] should be able to participate in that.”
Federal lawmakers have already introduced several bills to ban stock trading on Capitol Hill, including for lawmakers’ spouses. Then ban could also be applied to other elected officials and judges, Warren told the media.
Democrats plan to introduce legislation next month that would prevent stock trades by members of Congress and their spouses, Punchbowl News reported on Thursday.
JUST IN 🚨 Democrats in the House of Representatives will propose a ban on lawmakers, their spouses and senior staff from trading stocks, Punchbowl News reported
— Insider Paper (@TheInsiderPaper) July 28, 2022
“Punchbowl News: House Democrats plan to announce a proposal next month to ban lawmakers, their spouses, and senior staff from trading stocks, according to multiple sources close to the issue,” Kyle Griffin confirmed on Twitter.
Punchbowl News: House Democrats plan to announce a proposal next month to ban lawmakers, their spouses and senior staff from trading stocks, according to multiple sources close to the issue.
— Kyle Griffin (@kylegriffin1) July 28, 2022
“The framework would force members of Congress, their spouses, and senior staff to place assets in either a qualified blind trust or completely sell them off. Lawmakers, spouses, and staff would still be able to hold mutual funds,” The Daily Mail reported.