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Mon Jan 24, 2022, 03:09 PM

Mysterian (3,015 posts)

Pelosi opens the door to stock trading ban for members of Congress

Source: NPR

Pelosi made it clear any new legislation would include provisions adding new rules for the Supreme Court. "When we go forward with anything let's take the Supreme Court with us to have disclosure," she said.

Read more: https://www.npr.org/2022/01/20/1074387320/pelosi-opens-the-door-to-stock-trading-ban

21 replies, 1258 views

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21 replies	Author	Time	Post
Pelosi opens the door to stock trading ban for members of Congress (Original post)	Mysterian	Jan 2022	OP
K & R	50 Shades Of Blue	Jan 2022	#1
That is good news	MN2theMax	Jan 2022	#2
Even if they are completely honest it just looks bad	ripcord	Jan 2022	#4
Yep!	Rebl2	Jan 2022	#20
Can congress control behavior of SC justices?	JustABozoOnThisBus	Jan 2022	#3
My immediate thought.	OneCrazyDiamond	Jan 2022	#5
yes, very disappointing	Grasswire2	Jan 2022	#7
Maybe the issue is that she'd have a major bipartisan revolt to deal with.	Earth-shine	Jan 2022	#8
67% of Americans support it though	OneCrazyDiamond	Jan 2022	#9
I'll bet the percentage would be even higher if the question were phrased properly, such as ...	Earth-shine	Jan 2022	#10
Yep actually.	OneCrazyDiamond	Jan 2022	#12
Do members of the SC have insider info on which to make trades?	Earth-shine	Jan 2022	#6
The Supreme Court makes decisions that have great impact on major industries	Mysterian	Jan 2022	#11
Very good point. It's not just trading, it's also what they already have.	Earth-shine	Jan 2022	#14
Does the bill ban insider trading? Or ALL trading?	JustABozoOnThisBus	Jan 2022	#13
Banning insider congressional stock trading was one of Obama's	Firestorm49	Jan 2022	#15
Let them have 401K's, IRA's, and blind private wealth management like everyone else.	bucolic_frolic	Jan 2022	#16
When we go forward with anything let's take the Supreme Court with us to have disclosure," she said.	Budi	Jan 2022	#17
Definitely. nt	ecstatic	Jan 2022	#18
👍	Rebl2	Jan 2022	#19
But Options, futures, bonds and warrants	BadgerKid	Jan 2022	#21

Response to Mysterian (Original post)

Mon Jan 24, 2022, 03:13 PM

50 Shades Of Blue (7,158 posts)

1. K & R

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 03:14 PM

MN2theMax (303 posts)

2. That is good news

I was so disappointed when she said that members of congress had the "right to participate in the free market." Politicians buying and selling individual stocks is just wrong and corrupt. Good on Madam Speaker for rethinking her position on this. And by all means, take the Supreme Court along too!

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Response to MN2theMax (Reply #2)

Mon Jan 24, 2022, 03:36 PM

ripcord (2,916 posts)

4. Even if they are completely honest it just looks bad

When you have lawmakers on committees overseeing industries they own stock in.

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Response to ripcord (Reply #4)

Mon Jan 24, 2022, 06:10 PM

Rebl2 (6,383 posts)

20. Yep!

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 03:14 PM

JustABozoOnThisBus (22,035 posts)

3. Can congress control behavior of SC justices?

Or is she tossing in a poison pill so the SC will declare the bill unconstitutional?

I'd bet the justices, and the speaker, want to handle their investments with as little oversight as possible.

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Response to JustABozoOnThisBus (Reply #3)

Mon Jan 24, 2022, 03:44 PM

OneCrazyDiamond (1,672 posts)

5. My immediate thought.

Speaker Pelosi is a force, but I don't understand why she doesn't see the issue.

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Response to OneCrazyDiamond (Reply #5)

Mon Jan 24, 2022, 03:48 PM

Grasswire2 (11,821 posts)

7. yes, very disappointing

She and many others in Congress are wealthy -- extremely wealthy. And they resist setting aside their assets in a blind trust while serving? Nonsense. One reason why rank and file people despise politicians.

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Response to OneCrazyDiamond (Reply #5)

Mon Jan 24, 2022, 03:50 PM

Earth-shine (1,723 posts)

8. Maybe the issue is that she'd have a major bipartisan revolt to deal with.

Trading on privileged info is apparently a perk of being in Congress.

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Response to Earth-shine (Reply #8)

Mon Jan 24, 2022, 03:54 PM

OneCrazyDiamond (1,672 posts)

9. 67% of Americans support it though

https://www.dataforprogress.org/blog/2021/1/22/majority-support-hr1-democracy-reforms

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Response to OneCrazyDiamond (Reply #9)

Mon Jan 24, 2022, 03:57 PM

Earth-shine (1,723 posts)

10. I'll bet the percentage would be even higher if the question were phrased properly, such as ...

Do you support allowing politicians to trade on privileged info that the public does not have?

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Response to Earth-shine (Reply #10)

Mon Jan 24, 2022, 04:01 PM

OneCrazyDiamond (1,672 posts)

12. Yep actually.

Respondents were then given arguments in favor of such a ban — including lawmakers' access to non-public information and the need to instill public trust — as well as against, including that such a ban could impact retirement accounts and is unnecessary as most lawmakers follow rules around trading. Support then jumped to 74%, while just 19% said they would oppose such a bill.

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 03:48 PM

Earth-shine (1,723 posts)

6. Do members of the SC have insider info on which to make trades?

Members of congress often do.

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Response to Earth-shine (Reply #6)

Mon Jan 24, 2022, 03:58 PM

Mysterian (3,015 posts)

11. The Supreme Court makes decisions that have great impact on major industries

Perhaps they should not be influenced by the stocks they hold.

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Response to Mysterian (Reply #11)

Mon Jan 24, 2022, 04:08 PM

Earth-shine (1,723 posts)

14. Very good point. It's not just trading, it's also what they already have.

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Response to Earth-shine (Reply #6)

Mon Jan 24, 2022, 04:02 PM

JustABozoOnThisBus (22,035 posts)

13. Does the bill ban insider trading? Or ALL trading?

A justice might know the outcome of a case before it's published, and a case might affect the value of a company's stock.

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 04:16 PM

Firestorm49 (3,166 posts)

15. Banning insider congressional stock trading was one of Obama's

goals, which obviously never came to fruition. I wish her luck and hope she can pull it off. We go to jail for the same acts.

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 04:17 PM

bucolic_frolic (31,625 posts)

16. Let them have 401K's, IRA's, and blind private wealth management like everyone else.

It's not like they don't have good options. So you serve in Congress 20 years and you get average, what's so bad about that public servant?

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 04:22 PM

Budi (15,026 posts)

17. When we go forward with anything let's take the Supreme Court with us to have disclosure," she said.

Told ya, Pelosi is the feaking jedi.

Lets have full disclosure. She freaking knows what's in their wallets too.

All in or nothin. Lets have full disclosure K?

Well played, Madam Speaker.

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 04:23 PM

ecstatic (29,706 posts)

18. Definitely. nt

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 06:10 PM

Rebl2 (6,383 posts)

19. 👍

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 10:27 PM

BadgerKid (4,418 posts)

21. But Options, futures, bonds and warrants

Aren’t stocks. Will they be fair game?

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