lpetrich
Contributor
House Speaker Nancy Pelosi opposes banning stock buys by Congress members
Lucas Kunce on Twitter: "When asked about rampant insider trading in Congress, all Nancy Pelosi could say was, "We’re a free market."
All I heard was: "Let them eat cake."
Why are the rules harsher for you, me, and Martha Stewart than they are for the Speaker of the House? (vid link)" / Twitter
House Speaker Nancy Pelosi scoffed Wednesday at the idea of banning congressional lawmakers and their spouses from owning shares of individual companies, despite the possibilities for conflicts of interest between their legislative duties and personal finances.
“No,” Pelosi, D-Calif., told reporters at a news conference where she was asked whether she would support such a prohibition.
“We’re a free market economy,” she said. “They should be able to participate in that.”
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The Business Insider series found that 49 members of Congress and 182 senior-level congressional staffers had violated the so-called STOCK Act, which requires public disclosure by themselves and family members within 45 days of sales or purchases of individual stocks, bonds and commodity futures.
The Stop Trading on Congressional Knowledge Act, which became law in 2012, is supposed to prevent lawmakers and staffers from engaging in trading on information they glean from their jobs, as well as conflicts of interest.
Lucas Kunce on Twitter: "When asked about rampant insider trading in Congress, all Nancy Pelosi could say was, "We’re a free market."
All I heard was: "Let them eat cake."
Why are the rules harsher for you, me, and Martha Stewart than they are for the Speaker of the House? (vid link)" / Twitter