Pelosi DEFENDS Her Insider Trading!: 'It's The Free Market' | Krystal Kyle & Friends Podcast
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Speaker of the House Nancy Pelosi, D-Calif., meets with reporters at the Capitol in Washington, Wednesday, Dec. 15, 2021. (AP Photo/J. Scott Applewhite)
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Speaker of the House Nancy Pelosi, D-Calif., meets with reporters at the Capitol in Washington, Wednesday, Dec. 15, 2021. (AP Photo/J. Scott Applewhite)
WASHINGTON (AP) — House Speaker Nancy Pelosi on Wednesday said lawmakers should not be barred from trading stock, a practice that has come under scrutiny because it gives members of Congress the opportunity to profit off insider information gained through their official duties.
“We are a free market economy. They should be able to participate in that,” Pelosi, whose husband holds tens of millions of dollars worth of stocks and options, told reporters Wednesday.
Pelosi has long said she has no involvement in or prior knowledge of her husband’s trading decisions and does not own any stock herself.
The issue of congressional stock trading has taken on new urgency since the beginning of the pandemic, when suspiciously timed stock trades by lawmakers in both parties provoked outrage and led to multiple investigations.
To date, no one has been charged in connection with stock trading investigations undertaken by the Justice Department and the Securities Exchange Commission.
But the often lucrative trades nonetheless shine a spotlight on the inadequacies of a 2012 law called the Stock Act, which bars members from using inside information to make investment decisions and requires that all stock trades be reported to Congress within 45 days.
https://apnews.com/article/business-nancy-pelosi-congress-8685e82eb6d6e5b42413417f3d5d6775
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