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Mon Jan 24, 2022, 03:09 PM

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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Arrow 21 replies Author Time Post
Reply Pelosi opens the door to stock trading ban for members of Congress (Original post)
Mysterian Jan 2022 OP
50 Shades Of Blue Jan 2022 #1
MN2theMax Jan 2022 #2
ripcord Jan 2022 #4
Rebl2 Jan 2022 #20
JustABozoOnThisBus Jan 2022 #3
OneCrazyDiamond Jan 2022 #5
Grasswire2 Jan 2022 #7
Earth-shine Jan 2022 #8
OneCrazyDiamond Jan 2022 #9
Earth-shine Jan 2022 #10
OneCrazyDiamond Jan 2022 #12
Earth-shine Jan 2022 #6
Mysterian Jan 2022 #11
Earth-shine Jan 2022 #14
JustABozoOnThisBus Jan 2022 #13
Firestorm49 Jan 2022 #15
bucolic_frolic Jan 2022 #16
Budi Jan 2022 #17
ecstatic Jan 2022 #18
Rebl2 Jan 2022 #19
BadgerKid Jan 2022 #21

Response to Mysterian (Original post)

Mon Jan 24, 2022, 03:13 PM

1. K & R

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 03:14 PM

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

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

20. Yep!

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 03:14 PM

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

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

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

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 OneCrazyDiamond (Reply #9)

Mon Jan 24, 2022, 03:57 PM

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

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

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

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

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

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

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

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

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

18. Definitely. nt

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 06:10 PM

19. 👍

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Response to Mysterian (Original post)

Mon Jan 24, 2022, 10:27 PM

21. But Options, futures, bonds and warrants

Aren’t stocks. Will they be fair game?

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