Watch Pelosi Squirm As She is Questioned Over Members of Congress and Their Spouses Investing in Stocks

[Turd Fergusen]

House Speaker Nancy Pelosi defended rules that allow members of Congress to own individual stocks, batting down concerns about lawmakers using insider information to juice their portfolios.

The liberal congresswoman from San Francisco said lawmakers should be able to own stocks because the US is a “free-market economy.”

Her comments Wednesday came amid rampant apparent violations of the STOCK Act, which is supposed to reign in lawmakers’ trades.

When asked whether the opportunity to profit on trades could create a conflict of interest, the speaker flatly said “no” to the idea of supporting a ban on trading individual stocks.

“We’re a free-market economy,” Pelosi told reporters. “They [members of Congress] should be able to participate in that.”

The speaker conceded that lawmakers needed to follow rules on public disclosure of the trades.

“If people aren’t reporting [stock trades], they should be,” she said.

Still, Pelosi’s reaction was seen as flippant by some given the rash of apparent stock trade violations.

Pelosi’s most recent financial disclosure shows her husband has millions of dollars worth of holdings. That includes stock in Amazon and Apple that are each worth between $5 million and $25 million. Other assets she reported include stock options held in Google’s parent company worth between $1 million and $5 million, Comcast stock worth between $1 million and $5 million and stock in Visa worth between $5 million and $25 million.

Pelosi’s husband, Paul Pelosi, is a businessman who runs a venture capital and investment firm Financial Leasing Services Inc. Over the years he’s made countless bets on high-profile companies his wife is supposed to regulate, like Amazon, Apple and Google.

Pelosi has long said she has no involvement in or prior knowledge of her husband’s trading decisions and does not own any stock herself.

Full Article:

Nancy Pelosi defends lawmakers owning individual stocks

Speaker Nancy Pelosi was asked whether lawmakers or their spouses should be banned from making individual stock trades amid concerns they have access to insider information.

nypost.com

 

[BuffettGirl]

They can't become elites if they can't work a little nudge-nudge insider trading can they? What's wrong with people? Sheesh...

 

[Metalfan]

When the fart backfires you are in a big stinky mess!

 

[Totemic]

God this woman is so full of shit. I don't know of any couple that doesn't know where and what their spouse's investments are

 

[Spider]

Gotta love the hypocrisy of that dumb cunt saying the U.S. is a free market.

 

[Sejanus]

Face it the real reason anyone serves as a politician in federal government now is to accrue power and wealth.
It will be done by any means necessary without transparency.
Politicians, all politicians are comfortable looking you in the face and lying about their deeds and misdeeds.

 

[Sudonim]

God this woman is so full of shit. I don't know of any couple that doesn't know where and what their spouse's investments are

I might not know every individual trade when it happens, but Numb also isnt trading with millions and he does various short term trades along side the long holds. I could understand not knowing someone had bought a couple million penny stocks worth a few hundred, but stocks like the ones mentioned...you know about those. Those are long term holds worth a ton of money. Even if you dug your head into the sand, come tax time you'd 100% know because stocks are taxable income and as a spouse, you're writing those numbers on your own forms too.

Numb knows exactly what stocks I have and when they dip and his are doing good he takes great joy in rubbing it in xD