Former House Speaker Nancy Pelosi is about to get some bad news.
Pelosi’s shady conduct is about to catch up to her.
And Nancy Pelosi is about to get banned from committing one illegal act.
Nancy Pelosi is the definition of the D.C. swamp.
Between 2008 and 2021 her net worth swelled from $31 million to over $170 million thanks in large part to fortuitous stock trades.
The latest example of Pelosi’s wonderful luck and timing in playing the market came when Pelosi sold $3 million worth of stock in Google just before the Biden administration filed an anti-trust lawsuit to break up the Big Tech giant.
The DOJ has officially opened up a lawsuit against Google to break up its Ad Technology Monopoly
Pelosi sold $3 Million dollars worth of Google just four weeks ago
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) January 25, 2023
It strained credulity to think Pelosi had no idea this anti-trust suit — filed by her chief political ally and fellow Democrat — was coming down the pike and that Pelosi just randomly decided to dump the Google stock right then and there.
This type of insider wheeling and dealing is why Missouri Senator Josh Hawley proposed the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act which will ban lawmakers from trading stocks.
Senator Hawley appeared on Sean Hannity’s Fox News program to explain why this law was necessary.
Hawley told Hannity that his bill not only banned members from trading stocks, it prevents them from owning stocks.
“When the voters send members of Congress to Washington, they expect them to do the people’s business, not to be day-trading on the stock market, not to be using the information that they get from briefings to go and make a quick buck on Wall Street. So here’s what my bill does. It says no more trading of stocks by members of Congress. In fact, no more ownership of stocks by members of Congress. If you want to save, fine, put it in a mutual fund like most Americans do,” Hawley said.
Americans — Hawley contended — believe winning election to Congress should not serve as the equivalent of securing a golden ticket in Wall Street get-rich-quick schemes.
Insider trading by members of Congress is already illegal.
But Hawley told viewers the laws on the books proved toothless and that the only way to drain the swamp was to cut off the ability of members of Congress to own and trade stocks.
“This is a problem that has been going on for years. And she is just a perfect example of how rich people can get by using their information. Listen, insider trading is already illegal. And we’re talking here about members of Congress, the briefings that they get, the information that we have from hearings. It’s information that most Americans don’t have. Because, of course, that’s why they sent us to Congress, is to do their business, not to turn that around and to get rich off of it,” Hawley concluded.
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