House Passes "Stop Insider Trading" Bill to Forbid Congressmen from Trading Individual Stocks (Using Insider Information);
Noted Lifelong Inside-Trader Nancy Pelosi Votes Against It

The bill would allow congresmen to own stocks as part of money markets or indexes -- big groups of stocks traded by managers without input from the customer.

They, and their families, will just be barred from buying and selling individual stocks, where a congressman could make a killing based on insider knowledge of coming government action that could boost, or crush, a specific company's valuation.

But congressmen have been permitted to use their insider information -- either granted to them by their position on a committee or tipped to them as a straight-up bribe by company officials seeking official favor -- for decades. That's why every other congressman is a millionaire in six years.

This bill would stop that.

Except for when Congress starts modifying the bill by adding exceptions.

House passes 'Stop Insider Trading Act' in bipartisan vote

Democrats who opposed the legislation argued that the bill does not go far enough because it prohibits members of Congress and their families from buying new individual stocks, but it doesn't prevent them from owning them.

The House of Representatives in a bipartisan vote on Wednesday passed the "Stop Insider Trading Act," which bans lawmakers and their families from trading individual stocks.

The bill passed in a 232-198 vote, with 13 Democrats supporting the legislation. A similar bill is in the Senate.

Democrats who opposed the bill argued that it does not go far enough because it prohibits members of Congress and their families from buying new individual stocks, but it doesn't prevent them from owning them.

"For too long, Americans struggling to make ends meet have watched as lawmakers have entered office just to leave as multi-millionaires," House Speaker Mike Johnson said in a statement. "This type of behavior is unacceptable and diminishes the American people's trust in this institution.

Nancy Pelosi has been a virulent opponent of such a ban in the past. That's because she's become one of the richest women of the country while "serving" in Congress.

The Democrats voted against this bill with the pretextual excuse "we want the bill to go farther" but one suspects they don't want the bill at all. Democrats have shown that they go into politics to plunder money from the public.

When Trump accused her of insider trading last year, Nancy Pelosi defended herself PERFECTLY by saying it's not her who trades stocks, it's her husband, and the money he makes goes into her accounts, so everything's on the level because she is not her husband.

And she certainly wouldn't tell her husband which stocks to buy up or dump.

"Cite?" as Jake Tapper would say in a DM.

Noted Lifelong Inside-Trader Nancy Pelosi Votes Against It&bodytext=The bill would allow congresmen to own stocks as part of money markets or indexes -- big groups of stocks traded by managers without input from the customer. They, and their families, will just be barred from buying and selling...&topic=world_news"> posted by Disinformation Expert Ace at 05:20 PM

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