{"id":1122092,"date":"2021-12-15T15:28:53","date_gmt":"2021-12-15T20:28:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1122092"},"modified":"2021-12-15T15:28:57","modified_gmt":"2021-12-15T20:28:57","slug":"this-is-a-free-market-pelosi-defends-congressional-stock-trading-in-face-of-report-detailing-ethics-violations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/this-is-a-free-market-pelosi-defends-congressional-stock-trading-in-face-of-report-detailing-ethics-violations\/","title":{"rendered":"\u2018This Is A Free Market\u2019: Pelosi Defends Congressional Stock Trading In Face Of Report Detailing Ethics Violations"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthis-is-a-free-market-pelosi-defends-congressional-stock-trading-in-face-of-report-detailing-ethics-violations%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1122092&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<aside id=\"right1forarticles\">\n<\/aside>\n<div id=\"ob-read-more-selector\" readability=\"45.371378402107\">\n<p>Speaker of the House Nancy Pelosi defended the right of members of Congress to trade individual stocks in the face of a report detailing rampant violations of the STOCK Act.<\/p>\n<p>\u201cWe have a responsibility to report stock, but I\u2019m not familiar with that five month review,\u201d she said Wednesday, in response to a question about the <a href=\"https:\/\/www.businessinsider.com\/conflicted-congress-key-findings-stock-act-finances-investing-2021-12\">report<\/a> from Insider. Insider found that 48 members of Congress and 182 senior aides have violated the STOCK Act, which requires prompt disclosures of the sale of any securities. The publication also revealed that numerous members invested in pharmaceutical stocks in the early days of the COVID-19 pandemic, while other members invest in industries that they are responsible for regulating. <strong><a href=\"https:\/\/dailycaller.com\/2021\/12\/09\/cindy-axne-stock-trades-house-financial-services-committee\/\">(RELATED: Democratic Rep. Cindy Axne Traded Stocks For Companies Her Committee Conducts Oversight Of)<\/a><\/strong><\/p>\n<p>\u201cThis is a free market and people,\u201d Pelosi continued before trailing off. \u201cWe are a free market economy and we should be able to participate in that.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" readability=\"5.7142857142857\">\n<p dir=\"ltr\" lang=\"en\">Join me live at the U.S. Capitol for my weekly press conference. <a href=\"https:\/\/t.co\/qKMZuacgO6\">https:\/\/t.co\/qKMZuacgO6<\/a><\/p>\n<p>\u2014 Nancy Pelosi (@SpeakerPelosi) <a href=\"https:\/\/twitter.com\/SpeakerPelosi\/status\/1471148362254766093?ref_src=twsrc%5Etfw\">December 15, 2021<\/a><\/p>\n<\/blockquote>\n<p>\u201cBut if the people aren\u2019t reporting they should be,\u201d she added.<\/p>\n<p>One of the <a href=\"https:\/\/www.businessinsider.com\/wealthiest-members-congress-house-senate-finances-2021-12\">wealthiest<\/a> members of Congress, Pelosi has filed 14 reports detailing stock sales in the last two years. She has sold millions of dollars of stock in companies including <a href=\"https:\/\/disclosures-clerk.house.gov\/public_disc\/ptr-pdfs\/2020\/20017123.pdf\">Facebook<\/a>, Google and <a href=\"https:\/\/disclosures-clerk.house.gov\/public_disc\/financial-pdfs\/2020\/10039988.pdf\">Amazon<\/a> that have found themselves in Congress\u2019s regulatory crosshairs. An account detailing Pelosi\u2019s financial transactions was recently <a href=\"https:\/\/reclaimthenet.org\/twitter-bans-nancy-pelosi-stock-tracker\/\">suspended<\/a> by Twitter.<\/p>\n<p>Despite Pelosi\u2019s defense of members trading individual stocks, she has not always appeared completely supportive of free markets. Pelosi <a href=\"https:\/\/dailycaller.com\/2021\/09\/17\/nancy-pelosi-capitalism-has-not-served-economy-as-best-it-can-needs-improvement\/\">claimed<\/a> in September that capitalism \u201chas not served our economy as well as it should,\u201d and that \u201cwe have to correct\u2026 a system where the success of some springs from the exploitation of the workers and springs from the exploitation of the environment and the rest.\u201d<\/p>\n<p>A bipartisan group of representatives has introduced legislation that would ban members of Congress from trading individual stocks. Their bill, the Ban Conflicted Trading <a href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/1579\/text?r=62&amp;s=1\" target=\"_blank\" rel=\"noopener noreferrer\">Act<\/a>, would require all members to place assets in qualified blind trusts before selling, or face a 10% fine on the asset that was sold.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Speaker of the House Nancy Pelosi defended the right of members of Congress to trade individual stocks in the face of a report detailing rampant violations of the &#8230;<\/p>\n","protected":false},"author":67,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1122092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1122092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1122092"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1122092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1122092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1122092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1122092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}