Nancy Pelosi finally caves and moves to BAN stock trading in Congress: Democratic Speaker u-turns on members buying shares despite her husband raking in millions and defending the practice just days ago
The House Speaker is allowing House Democratic Leadership to begin considering possible avenues for a stock trading ban
A new report indicates House Administration Committee Chair Rep. Zoe Lofgren has been tasked with finding options to get it done for Pelosi and other leaders
The push to ban members of Congress from trading stocks has gained significant momentum in recent months, with support from GOP and Dems
Pelosi has previously shot down the idea, claiming it's unfair to exclude lawmakers from the financial markets despite the appearance of ethics issues
She does not trade stocks herself but her husband Paul Pelosi has traded millions of dollars, including $3.5M late last year into Alphabet and Disney among others
By Elizabeth Elkind, Politics Reporter For Dailymail.Com
Published: 08:39 EST, 9 February 2022 | Updated: 10:01 EST, 9 February 2022
House Speaker Nancy Pelosi is now on board with a potential ban on members of Congress trading stocks, a new report suggested on Wednesday.
The powerful Democrat has shot down the idea multiple times in the past, despite criticism over her husband raking in millions on the stock exchange.
But the California legislator is now working with other Democratic leaders on how to get it done, according to Punchbowl News, after caving to pressure from both sides of the aisle and both chambers of Congress.
It's reportedly now up to House Administration Committee Chair Rep. Zoe Lofgren to come up with pathways on how to enact the stock trading ban.
House Democratic leadership is potentially looking at amending the STOCK Act, which makes it illegal for lawmakers to use non-public information for private profit and requires them to publicly disclose stock and bond transactions within 45 days.
It will likely be updated to outright stop lawmakers from trading individual stocks.
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https://www.dailymail.co.uk/news/article-10493757/Nancy-Pelosi-caves-moves-BAN-stock-trading-Congress-despite-husband-raking-millions.html
