{"id":1826650,"date":"2023-01-27T18:35:34","date_gmt":"2023-01-27T23:35:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1826650"},"modified":"2023-01-27T18:37:59","modified_gmt":"2023-01-27T23:37:59","slug":"no-duh-federal-lawmakers-shouldnt-be-allowed-to-buy-and-sell-stocks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/no-duh-federal-lawmakers-shouldnt-be-allowed-to-buy-and-sell-stocks\/","title":{"rendered":"No Duh: Federal Lawmakers Shouldn\u2019t Be Allowed To Buy And Sell Stocks"},"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\">24<\/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%2Fno-duh-federal-lawmakers-shouldnt-be-allowed-to-buy-and-sell-stocks%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=1826650&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-->\n<p>The reason lawmakers shouldn\u2019t be <a href=\"https:\/\/www.dailywire.com\/topic\/stock-market\" target=\"_blank\" rel=\"noopener\">Trading stocks<\/a> is simple: They\u2019re often privy to inside information that could amount to inside trading.<\/p>\n<p>Nancy Pelosi, former House Speaker, and her husband have made millions in the years since she assumed office.\u00a0The couple just sold Alphabet stock worth more than $1.5million last month. Guess what? The Department of Justice filed an antitrust suit against the tech company this month.<\/p>\n<p>Coincidence?<\/p>\n<p>The Daily Caller reports that the Pelosis sold 30,000 shares Alphabet on December 20, 21 and 28. <a href=\"https:\/\/dailycaller.com\/2023\/01\/25\/nancy-paul-pelosi-sell-alphabet-stock-justice-department-antitrust-lawsuit\/?utm_source=referral&#038;utm_medium=offthepress&#038;utm_campaign=home\" target=\"_blank\" rel=\"noopener\">reported<\/a>. According to Pelosi&#8217;s financial disclosure form, the pair was paid between $1.5m and $3m for the entire sale. On Tuesday, Alphabet was sued by the DOJ.<\/p>\n<p>Between 2007 and 2020, Pelosi and her husband saw their stock portfolio\u2019s worth soar as much as $30 million. Paul Pelosi\u2019s net worth is said to be more than $120 million, mostly due to his holdings in technology stocks.<\/p>\n<p>Nancy and Paul Pelosi (he of the famous mugshot following his drunken driving arrest) just seem to have an eye for making well-timed trades. Just before the passage of a bill that would have subsidized the American semiconductor sector with $280 billion, the couple purchased and sold millions of Nvidia stock. Huh. It&#8217;s a great coincidence.<\/p>\n<p>It&#8217;s not surprising that the former speaker opposed any legislation banning stock trading for federal legislators. And she\u2019s had lots of support; plenty of other members of Congress have become millionaires, even though they make just $180,000 a year.<\/p>\n<p>A <a href=\"https:\/\/www.businessinsider.com\/congress-stock-act-violations-senate-house-trading-2021-9#sen-mark-kelly-a-democrat-from-arizona-13\" target=\"_blank\" rel=\"noopener\">Report<\/a>\u00a0Business Insider reported this month that there were 49 members of Congress, and 182 high-ranking congressional staffers. \u201cviolated 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.\u201d<\/p>\n<p>What is the punishment for violating this act? It was created a decade ago in order to combat insider trading. $200. Sometimes, the Senate or House ethics committees will waive the fine.<\/p>\n<p>One Republican lawmaker has a solution, and he\u2019s dubbed it the \u201cPELOSI Act\u201d \u2014 \u201cPreventing Elected Leaders from Owning Securities and Investments.\u201d<\/p>\n<p>Sen. Josh Hawley (R-MO) wants to ban lawmakers \u2014 and their spouses \u2014 from owning and trading stocks while holding office.<\/p>\n<p>\u201cFor too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people,\u201d Hawley stated in a <a href=\"https:\/\/www.hawley.senate.gov\/hawley-announces-pelosi-act-reintroduction-bill-ban-lawmakers-trading-stocks\" target=\"_blank\" rel=\"noopener\">Statement<\/a>.<\/p>\n<p>\u201cAs members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again,\u201d He stated.<\/p>\n<p>\u201cWhile Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other, hardworking Americans pay the price,\u201d The senator spoke.<\/p>\n<p><em>The views expressed in this piece are the author\u2019s own and do not necessarily represent those of The Daily Wire.<\/em><\/p>\n<p><em>Joseph Curl has been covering politics for 35+ years, 12 of which were as a White House correspondent for a national paper. He was also the Drudge Report&#8217;s morning editor for four years. Send tips to <a href=\"https:\/\/www.dailywire.com\/cdn-cgi\/l\/email-protection\" class=\"__cf_email__\" data-cfemail=\"02686d7167726a6177706e4266636b6e7b756b70672c616d6f\">[email\u00a0protected]<\/a> Follow him @josephcurl on Twitter<\/p>\n<p><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The reason lawmakers shouldn\u2019t be trading stocks is simple: They\u2019re often privy to inside information that could amount to inside trading. Former House Speaker Rep. Nancy Pelosi (D-CA) and her husband, for instance, have made millions since she took office.\u00a0Just last month, the couple sold more than $1.5 million in Alphabet stock. Then guess what &#8230;<\/p>\n","protected":false},"author":159,"featured_media":1584762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[4130,16764,3974,3673,9365,5608,10467],"class_list":["post-1826650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-allowed","tag-duh","tag-federal","tag-lawmakers","tag-sell","tag-shouldnt","tag-stocks"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1826650","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\/159"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1826650"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1826650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1584762"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1826650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1826650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1826650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}