{"id":1207725,"date":"2022-01-11T11:04:53","date_gmt":"2022-01-11T16:04:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1207725"},"modified":"2022-01-11T11:04:56","modified_gmt":"2022-01-11T16:04:56","slug":"mccarthy-considering-an-outright-ban-on-lawmakers-being-able-to-trade-stocks-if-gop-wins-house","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mccarthy-considering-an-outright-ban-on-lawmakers-being-able-to-trade-stocks-if-gop-wins-house\/","title":{"rendered":"McCarthy Considering An \u2018Outright Ban\u2019 On Lawmakers Being Able To Trade Stocks If GOP Wins House"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">32<\/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%2Fmccarthy-considering-an-outright-ban-on-lawmakers-being-able-to-trade-stocks-if-gop-wins-house%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=1207725&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--><p>House Minority Leader Kevin McCarthy (R-CA) is reportedly considering instituting restrictions, including a potential \u201coutright ban,\u201d on lawmakers being able to hold or trade stocks if Republicans win back the majority in this year\u2019s midterm elections.<\/p>\n<p>\u201cMcCarthy told us his planning on this front is in its early stages, and he hasn\u2019t yet decided on what kind of limitations there may be on stock trades or holdings,\u201d Punchbowl News <a href=\"https:\/\/twitter.com\/JakeSherman\/status\/1480879448077615107\">reported<\/a>. \u201cOne idea would be to force lawmakers to hold only professionally managed mutual funds. Another proposal the GOP leadership is considering would bar lawmakers from holding stocks in companies or industries their committees oversee.\u201d<\/p>\n<p>\u201cOther members have advocated for mandatory blind trusts for lawmakers\u2019 holdings,\u201d the report added. \u201cThere\u2019s been renewed debate in recent months over putting curbs on lawmakers trading and holding individual stocks. The logic is simple \u2013 members and senators often get sensitive information about U.S. policy before it becomes public. Under the STOCK Act, lawmakers and aides are prohibited from trading on such information.\u201d<\/p>\n<p>McCarthy\u2019s remarks come as a report from Business Insider last month revealed that numerous lawmakers had violated the STOCK Act.<\/p>\n<p>The extensive <a href=\"https:\/\/www.businessinsider.com\/conflicted-congress-key-findings-stock-act-finances-investing-2021-12\">report<\/a> yielded some of the following findings:<\/p>\n<p>52 members of Congress and 182 senior-level congressional staffers who have violated a federal conflicts-of-interest law.That lawmakers and top congressional staffers face minimal and inconsistently applied penalties for violating the STOCK Act, and that it\u2019s nearly impossible (but we did it anyway) to comprehensively obtain \u201cpublic records\u201d about senior-level staffers\u2019 personal finances.Nearly 75 federal lawmakers who held stocks in COVID-19 vaccine makers Moderna, Johnson &amp; Johnson, or Pfizer in 2020, with many of them buying or selling these stocks in the early weeks of the pandemic.15 lawmakers tasked with shaping US defense policy that actively invest in military contractors.More than a dozen environmentally-minded Democrats who invest in fossil fuel companies or other corporations with concerning environmental track records.16 lawmakers who buy and hold tobacco company stock, including some who have publicly fought smoking.Senators, House members, and top Capitol Hill staffers who will help decide whether the government regulates cryptocurrency \u2014 and are themselves invested in bitcoin and altcoins.<\/p>\n<p>House Speaker Nancy Pelosi and her husband Paul bought millions of dollars worth of call options for stocks in December, just days after she defended members of Congress being able to buy stocks.<\/p>\n<p>The news comes after Pelosi had the following&nbsp;<a href=\"https:\/\/www.dailywire.com\/news\/pelosi-on-why-congress-should-be-allowed-to-trade-stock-after-dozens-broke-law-we-should-be-able-to\">exchange<\/a>&nbsp;with a reporter earlier this month:<\/p>\n<p><em>REPORTER:&nbsp; Madam Speaker, Insider just completed a five\u2011month investigation finding that 49 Members of Congress and 182 senior Congressional staffers have violated the STOCK Act, the insider trading law.&nbsp; I\u2019m wondering if you have any reaction to that.&nbsp; And secondly, should Members of Congress and their spouses be banned from trading individual stocks while serving in Congress?<\/em><\/p>\n<p><em>NANCY PELOSI, HOUSE SPEAKER: No, I don\u2019t \u2013 no, to the second one.&nbsp; Any \u2013 we have a responsibility to report in the stock \u2013 on the stock.&nbsp; But I don\u2019t \u2013 I\u2019m not familiar with that five month review, but if the people aren\u2019t reporting, they should be.<\/em><\/p>\n<p><em>REPORTER:&nbsp; Why shouldn\u2019t they be banned?<\/em><\/p>\n<p><em>PELOSI: Because this is a free market and people \u2013 we are a free market economy.&nbsp; They should be able to participate in that.<\/em><\/p>\n<p>The New York Post <a href=\"https:\/\/nypost.com\/2021\/12\/30\/nancy-pelosi-buys-call-options-for-google-disney-stocks\/\">reported<\/a> that just a couple of days after making the remarks, starting on December 17th and going through the 21st, Pelosi and her husband bought millions of dollars worth of call options for stocks including Google, Salesforce, Roblox, and Disney.<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Minority Leader Kevin McCarthy (R-CA) is reportedly considering instituting restrictions, including a potential \u201coutright ban,\u201d on lawmakers being able to hold or trade stocks if Republicans win back the majority in this year\u2019s midterm elections. \u201cMcCarthy told us his planning on this front is in its early stages, and he hasn\u2019t yet decided on &#8230;<\/p>\n","protected":false},"author":102,"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-1207725","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\/1207725","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\/102"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1207725"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1207725\/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=1207725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1207725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1207725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}