House Speaker Nancy Pelosi (D-CA) and her husband have added millions to their personal wealth over the last two or three years.
Pelosi’s husband has had the golden touch as of late in the market, primarily on stocks that have been impacted by legislation (or lack thereof) or government contracts.
Pelosi continues to advocate that members of Congress should be able to own personal stocks, but now a high-profile Democrat Senator is expected to betray Pelosi and push back on this issue.
It is well-documented how much money Pelosi and her husband have made over the last few years.
The most notable was an options trade that netted the Pelosi’s roughly $6 million in just a few weeks.
Pelosi’s camp has defended this with one simple answer…
Her husband makes the trades, and Nancy Pelosi does not actually own any stock herself.
They think we are stupid, as though she is not supplying her husband with information that influences his trading decisions.
Well, Senator Jon Ossoff (D-GA) is pushing back, expected to introduce a new ethics bill in the Senate very soon.
The bill would ban the trading of individual stocks by members of Congress.
This would also cover immediate family members, so it would, in essence, shut down the Pelosi money train.
The only question will be if Ossoff can find a Republican to jump on board and co-sponsor the bill with him to ensure its passage.
That is a big ask, as most members of Congress are raking in huge profits in the market.
If Ossoff is unable to find someone currently in the Senate backing him, there may be a few possibilities in the incoming class of Senators.
One of the names that come to mind is Blake Masters, a Republican hoping to take back an Arizona seat for the GOP.
He stated, “These lawmakers are just out of touch with how normal people view the situation.
“Members of Congress should not be buying call options on Big Tech companies they’re in charge of regulating, that is ludicrous.”
This could become a major campaign issue during the 2022 election, as the fortunes of members of Congress have started to enrage Americans.
Far too many members of Congress become millionaires almost overnight after winning a seat, showing that the system is clearly broken.
When you have a Democrat House member who had six figures of debt, then goes seven figures to the black in two years, well, it is clear why people join Congress, and it surely is not to serve the people.
If you ask me, this legislation is long overdue.
Do you think members of Congress and their immediate family members should be able to trade stocks of companies they regulate in Congress?
Tell us what you think in the comments section below.
Source: New York Post