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    JUST IN: Sen. Hawley Hilariously Humiliates Nancy Pelosi by Introducing the “Pelosi Act”

    By Will TannerJanuary 25, 2023
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    On Tuesday, Sen. Josh Hawley of Missouri kicked off the fight against Congressional corruption by introducing legislation that would forbid members of Congress and their family members from trading individual stocks.

    To effect such an outcome, the bill would require that both members of Congress and their spouses move any individual stocks they own into blind trusts where they won’t be able to trade them. Under the bill, members of Congress and family members of Congress would, if they don’t put the individual stocks in the trust, lose those stocks to the US Treasury.

    Hilariously, Sen. Hawley named the bill the PELOSI ACt, doing so by giving it the title “Preventing Elected Leaders from Owning Securities and Investments” Act. The name makes sense, as much of the outrage over Congressional stock trading came thanks to the stock trading done by Pelosi’s husband in 2021 and 2022.

    Fox News Digital, reporting on the Pelosi stock trade that sparked the outrage, said “The bill comes after revelations last year that Nancy’s husband, Paul Pelosi, traded between $1 million and $5 million of stocks for semiconductors just days before Congress allocated $52 million to the industry. The stocks were later sold at a loss to remove the appearance of impropriety.”

    Pelosi, however, isn’t the only one to try and profit from insider Congressional knowledge. Sen. Richard Burr of North Carolina, for example, did so as well, selling investments after receiving Covid briefings.



    Sen. Hawley, discussing the bill and its importance in a statement, said “For too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people.”

    Continuing, Hawley went on to say “As members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again.”

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    Further, he added that “As members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again. While Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other, hardworking Americans pay the price.”

    Trending Politics News, adding more context to the Hawley bill and what has so far been done to stop Congressional stock trading, reported that:

    Recently, Business Insider reported that at least 78 members of Congress, had breached the Stop Trading on Congressional Knowledge (STOCK) Act of 2012. This law was established to prevent insider trading among lawmakers and to obligate public officials to reveal their personal financial dealings, including any stock trades made by them, their spouses, or dependent children.

    According to the report, lawmakers who allegedly broke the law ridiculously cited reasons such as: lack of knowledge, administrative errors, and accounting mistakes.

    […]According to the analysis site Unusual Whales, 27 members of Congress’s stock portfolios performed better than the market in 2022. Despite the S&P 500 ending the year down 18%.

    We’ll see if it ends up passing. It seems unlikely Congress will vote against it’s own corruption.





    Whatfinger


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