(LibertySons.org) – A disclosure by Speaker of the House Nancy Pelosi (D-CA) not only gives insight into her financial situation but also draws attention to a pressing issue. Pelosi revealed her husband’s January investments included $2.9 million in Disney, PayPal, American Express, and Apple stocks. Congress is currently considering a new law about investments by members or members’ spouses. It could be quite damaging to the speaker if it passes.
Under the current law, the STOCK Act, the speaker met the requirement of disclosing investment activities within 45 days. But if other lawmakers have their way, Pelosi and her husband won’t be in the stock market anymore.
As Congress debates whether to ban lawmakers and their spouses from trading stocks, @SpeakerPelosi's husband purchased a combined $2.9 million in stocks on one day in January.
Via @thecherylt of @BusinessInsider: https://t.co/mGw19caPyn
— Dave Levinthal (@davelevinthal) March 4, 2022
A House panel will meet on March 16 to consider a ban on congressional stock trading. The law would include spouses. After dragging her feet on it, Pelosi finally agreed to the panel. The Senate is also working on similar legislation.
The push for this rule comes from a need for fairness within the investment market. When people who make laws that influence companies can invest in those stocks, it creates an alleged conflict of interest. The knowledge Congress members have could lead to an insider trading situation. If that isn’t allowable for citizens, it shouldn’t be for lawmakers either.
~Here’s to Our Liberty!
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