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First sentence of second paragraph.
"Late last month, the House Speaker disclosed that the Pelosis scooped up millions in bullish call options for stocks including Google, Salesforce, Micron Technology and Roblox."
"there’s no smoking gun showing that the Pelosis have traded using insider info"
"Under the STOCK Act, which was passed in 2012 and was supposed to rein in lawmakers’ trades, most members of Congress are still free to make the trades that could conflict with their legislative duties — as long as they disclose the information within 45 days."
Why does the President have to turn over complete control of his financial affairs to others during his term/s, but Congresspersons can trade openly, even upon stocks they have some sway over?
Why does the President have to turn over complete control of his financial affairs to others during his term/s, but Congresspersons can trade openly, even upon stocks they have some sway over?
Exactly....wasn't that long ago the focus was on Rs who did this. The key is to disallow MOC from trading.
That STOCK law says something about members, spouses or their kids.
Years ago I spent months at the county courthouse looking at property records on microfiche. The elected would put property given to them by real estate developers in businesses set up for that purpose. Some times after getting the business records from the state it was revealed their office manger or secretary ran the business.
It was fun when the wife's divorce lawyer called me because I knew more about his holdings than his wife and grown son.
It's harder now. They can offshore it, cryptocurrency or any other ways to hide bribes. Easy peasy with a few thousand dollar gift cards.
IMO, the instant a person decides to run for office, all their family holdings go into a blind trust the day they win. And stays there. And they stay out investing.
Why does the President have to turn over complete control of his financial affairs to others during his term/s, but Congresspersons can trade openly, even upon stocks they have some sway over?
Those 2 laws are not congruent in any way.
The POTUS does not. Some turn it over to their kids. They can discuss it at dinner.
The last one to really use a truly blind trust was near bankrupt when he left office. And it affected his siblings who were also owners of the peanut farm.
That STOCK law says something about members, spouses or their kids.
Years ago I spent months at the county courthouse looking at property records on microfiche. The elected would put property given to them by real estate developers in businesses set up for that purpose. Some times after getting the business records from the state it was revealed their office manger or secretary ran the business.
It was fun when the wife's divorce lawyer called me because I knew more about his holdings than his wife and grown son.
It's harder now. They can offshore it, cryptocurrency or any other ways to hide bribes. Easy peasy with a few thousand dollar gift cards.
IMO, the instant a person decides to run for office, all their family holdings go into a blind trust the day they win. And stays there. And they stay out investing.
Is it public service or not?
Interesting & informative post...thx! The corruption is almost always channeled through 3rd parties.
Nancy Pelosi and her husband have made over $300 million on stock trades using insider information obtained from her role as Speaker of the House.
This has become so open and blatantly obvious that Nancy and her husband no longer "waste their time" on simply trading stocks. In order to multiply their loot, they simply trade naked call options, not the stocks. Naked call options are about as close to gambling as one can get...................................... unless you know in advance information that will move a stock higher.
So..................... with Pelosi obviously ripping off the nation (not quite as bad as Biden and the Clintons selling information to foreign governments), how can liberals defend her actions and suggest that she go unpunished for her corruption? Do democrats EVER CARE about democrat corruption? If Nixon was a democrat, there is no way in hell he would have faced the possibility of impeachment, as the dems would have covered for him.
They don't need to 'defend' it. They just ignore it, confident that the media isn't going to make it an issue.
And they are right.
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