Congress Says They’ll Stop Trading Stocks While in Office…Midterms Must be Coming…

February 9, 2022

Work from Home in Pajamas

The midterms are coming...and those in Congress must show that they care about the little guy so they can get re-elected and thus continue not caring for the little Congress mens-womens from both sides are pushing new legislation that would prohibit them from trading stocks while in office:

Spanberger, a moderate Democrat from Virginia, and Roy, a conservative Republican from Texas, support a bill that would ban legislators from trading stocks in public companies to keep them from profiting from the insider knowledge they're privy to on Capitol Hill.

Privy is right. Just ask the woman below...

Pelosi Wanted to Continue Her Insid...uh I Mean She Was Opposed to This New Stock Legislation

House speaker Nancy Pelosi has been against banning trading for Congress people but if others on Capitol Hill twist her arm then she'll be forced to go with it:

House Speaker Nancy Pelosi, D-Calif., who has opposed new legislation banning members of Congress from trading individual stocks, signaled Thursday she is open to advancing it — if it has the support of her caucus.
"I just don't buy into it, but if members want to do that I'm OK with that," Pelosi told reporters at her weekly press conference.

AOC Supports the Bill, Whatever That Means...

"I wouldn't be surprised if it was the majority of members of Congress holding and trading and individual stock," she said. "I don't know the actual numbers, but it is a very large degree." - AOC (Alexandria Ocasio-Cortez)

Congress Has Used Insider Trading for Years

Just a bit of background so you know what Congress really does with the markets...

Insider trading would be if you knew that google was going to release a new product, and you knew about it before the general public did, so you could buy stock in google before anyone else.

Insider trading is illegal because it gives one person or group an unfair advantage against everyone else. 

Insider trading is completely legal for them (Congress), but it is illegal for us.

They are essentially making insider trades with our tax money. 

Insider trading means using information that other people don't have access to, and having an unfair advantage over the rest of the market.  As a result they make huge returns on their 'investments'.

She's (and others in Congress) made untold millions on insider trading.

See why Nancy Pelosi doesn't want to give that up?

This is Window Dressing for Mid-Terms: "See? We Really Do Care About Cleaning Things Up" really don't.

This is easy money...and I can understand why so many on the Hill apparently do it. It's kinda like the steroid era...players saw other players getting jacked and figured 'well...I better get in on this if I want to compete'.

The only difference is everyone in Congress wants to get their ski chalet too.

BTW...there's been other 'no-trading' bills floated about in the past and nothing came of it...

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