It came out this week that numerous congress members are violating the STOCK Act, by owning stock in many companies. The report revealed their connections to businesses created serious conflicts of interest, something this law sought to prevent. But that doesn’t seem to bother old Nancy Pelosi!
The woman, who is worth millions, denied any problems with lawmakers buying stock while in office. She claimed it was a “free market” and they had every right to invest, despite the power companies have over lawmakers who own their stocks. Now, even Obama’s ethics chief is blasting Nance.
From Fox News:
Former President Obama’s ethics chief called House Speaker Nancy Pelosi’s support of lawmakers trading stocks “disgusting” and the “opposite of government ethics.”
“Nobody kidnapped these members of Congress when they were private citizens, dragged them to Washington and forced them to be in Congress,” Shaub added. “The American people are sick of members of Congress buying and selling stock and creating the appearance of trading on insider information.”
Walter Shaub, Obama’s former ethic chief, slammed Pelosi over her dismissive comments about lawmakers buying stock. He said they were “disgusting” and her views are the “opposite” of what government ethics should be.
Pelosi has good reason to defend this shady practice. After all, her husband buys and sells stock in various companies. The very same companies that spend millions a year lobbying in D.C. The same companies that Pelosi’s decisions impact as a lawmaker.
Oh, and according to reports, Pelosi is worth somewhere between $50-$100 million, thanks to her investments.
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Must be nice, right? Having the power to influence American businesses and industries and getting to profit off of it? Back in early 2020, numerous lawmakers were called out because they dumped stock right before everything shut down. Many said they profited off their insider information.
That is one of the reasons why lawmakers are not allowed to buy and sell stocks while in office. But Nancy and her colleagues flagrantly violate the law—thinking nobody is going to say “boo.”
Sorry, old Nance. The American people are done with this charade. And you’re going to find out just how upset we are, come November 2022.