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Insider Trading by Congress – Just Criminal

Insider Trading

Call insider trading by Congress what it is – not just profound hypocrisy, arrogance and abuse of power, manipulation of high office for personal profit, but something simpler – public corruption, a crime.  The time has come to call a spade a spade. Insider trading by Congress is criminal.

House Speaker Nancy Pelosi (R-CA) is worth $114 million dollars, much of it stemming from private activity, including stock trades worth millions, by her husband. Timing of these trades, if one looks back over events and information known only to Congress, creates a strong presumption.

Nor is Pelosi alone. Congress is full of secrets, members entitled to classified, internal committee, legislative, and spending data no one else in America sees, all without needing security clearance.

No record is kept of who sees what information, what that information might mean to someone clandestinely trading on it – through a family member and then quietly pocketing the illicit profits.

Worse, since Congress polices itself on ethics, and Democrats in the Biden White House and at Garland’s Justice Department want to retain power at all costs, no one is calling out the public corruption.

The disgrace gets deeper, and hypocrisy and criminality go further than many suspect. The leading piece of legislation intended to address potentially rampant cheating on the stock market with privileged data has gone nowhere, was only supported by 14 members, and was permanently iced by Pelosi.

What no one will say is that members of Congress are participating in a criminal practice, and it already violates federal statutes. Anti-insider trading laws apply to both corporate officers or employees, and to those “tipped” with “non-public information.

Laws like “rule 10b-5” make clear that a crime occurs when someone – any person – “gets a tip from an Insider of the Company concerning information about the Company that is material and nonpublic, and trades (i.e. purchase or sells) the Company’s stock or other securities.”

To those who say, this only involves a tip from the company itself, that plainly is not the public policy being served. The idea is to prevent cheating, and where does that matter most? It should matter most when with public trust. If we expect honest corporate fiduciaries, we should expect more of Congress.

Nor is the “just a family member” ruse an excuse. Inside trading by Pelosi’s husband – or any Congressional family member or presidential family member – is still criminal. Thus, the statute above notes: “This policy also applies to your family members who reside with you, anyone else who lives in your household, and family members who do not live in your household but whose securities transactions are directed by you or are subject to your influence or control, as well as trusts or other entities for which you make investment decisions.”

Can the law be any clearer? Pelosi and her husband, profiting from what they know – as the timeline strongly suggests – should be investigated, as appropriate prosecuted. So should other members of Congress and staff, Republican or Democrat, who trade on what others cannot – information known for the public good.

Other statues apply – and yet the same Justice Department intent on not enforcing laws designed to protect conservative Supreme Court justices, pursuing politically motivated indictment of a former president, and investigating conservative parents as terrorists, will not investigate the Democrat House Speaker.

Ask yourself other questions, because they are relevant if truth in government is relevant. How can it be that only one piece of legislation expressly forbidding insider trading by Congress has been put through committee? How can it be the bill has only 14 c-sponsors? How can it be that past abuses are not investigated and pursued?

The excuses should no longer be tolerated, bland privilege to profit illicitly on public trust left undiscussed. The time has come to honor the law – make clear we expect honesty from those in public service, and drive home the point that no one is above the law, least of all those entrusted to draft, implement, and enforce it.

One wonders how the President and Attorney General can sleep at night unless they think ends justify means, corruption is permissible, and non-enforcement of laws against partisan friends somehow within their authority is acceptable. It is not, never has been, and amounts to a tacit violation of their oath of office, opening the door to wider questions.

Put differently, imagine that your spouse or a relative, or someone you live with is in charge of picking the winning numbers for some local, state, or federal lottery – and now imagine that they mention those numbers to you. They do not buy a lottery ticket, but they know you may. You do, you win, and everyone else loses. Fair?

The point is that we are slipping – as a Republic – into the realm of tacit agreement that crime at the top is okay, that public corruption is somehow a forgivable privilege for those who hold power. That is what the Soviet Union did, what corrupt dictators, legislatures, cabinet members, judges, and their partisan minions do all over the world. That is NOT what America has ever stood for, advocated, permitted, or tolerated.

What we need is honest public servants, motivated to do the right thing, not corrupt presidents, attorneys general, leaders, or members of Congress who have decided the law does not matter, honor and honesty are dead, and they are entitled to do anything to get ahead.

Bottom line: We are the custodians of this republic, and every single day deserve honest representatives, in all three branches of the federal – and for that matter also state – governments. If we will hold onto this republic, if we will keep the Constitution and rule of law as our rudder, it is time we call a spade a spade. Insider trading by Congress – and profiting from power while a vice president or president – is against the law. This kind of betrayal – of the public trust – is not just awkward, inconvenient, frustrating, infuriating, and wrong – it is a crime.


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Tim Mensinger
1 day ago

I noticed the (R Cal) beside Pelosi’s name. By NO stretch of the imagination can she be designated with an (R anywhere)!!

Michael Lewis
11 days ago

Hillary and Biden’s son should be in jail and if they were John Q or Jane Doe flyover people would be. Now Pelosi and her husband join the ranks of should be jailed. What will be the cost of this do as I say not as I do non-justice system? Perhaps the loss of respect for “leaders” and government and the loss of the American dream? Jail the bastards!

Becky
12 days ago

Democrat Communists have, for 6 decades, believed the ends justify the means.
Every person in Congress, of both parties, needs a severe and complete audit of ALL of their finances during their term. The millions these crooks sock away every year must be stripped from them, including all property and foreign accounts, and be returned to Social Security. That fund that they’ve raided for 6 or 7 decades….
Gauging by their salary, allow them the same amount of savings their constituents are able to sock away. Then take everything else.
No congress person should get millions for SERVING.

Gil
11 days ago
Reply to  Becky

We don’t have enough money to prosecute them all and yet, we all know that they don’t become millionaires on a government salary.

Patricia A Arsenault
12 days ago

This is the most corrupt Government that I have EVER endured in my life. This country is so divided b/c of this kangaroo court #AmericaFirst

LiamL
12 days ago

They in DC, District of Criminals, do as they please. However; for we the backbone of America, we have to follow all the rules. USA RIP.

Carol
12 days ago

Hello Mr. Charles: I have been reading your articles for so long that I can usually tell if an article is written by you. Paul E also hits usually the nail on the head (as you always do) with his answers to the articles. I really feel this is the time that “PIG FACE PELOSI” decided to go on her Asia trip because of the INSIDER TRADING, HER HUSBAND’S PROBLEMS WITH THE DUI AND HER LOSS SHE KNOWS IS TO COME IN THE 2022 ELECTIONS. I have talked to many about what I see as total corruption in the government for many years but no one has listened. I see that this country will go all the way of the governments you stated in your article that were ruled by marxist useful idiots. I watch the news (very little) and see her face all over the place. I will live to see her “perp walked” along with ALL the other traitors to this country to prison. I am watching that kirby tell more lies! How can HE sleep at night? If the lies do not stop I shall lose ALL my faith in people! I have so little faith that I can only believe that God has a plan. I have absolute respect for you and what you write. I also think many other things about the biden family and their ilk but that will have to wait for another time. Thank you for all you are doing that keeps me going and for saying the things so eloquently and truthfully. Carol

Nick
12 days ago

Good news. The House will be introducing legislation next month prohibiting members of Congress from trading individual stocks.

When you are the lawmaker, *all* trading is insider trading.

Sonny
6 days ago
Reply to  Nick

Will that keep them from having family members do the trading for them?

Dale
12 days ago

Criminals do crime… They have no worries about doing crime that is their day job!!!

Elaine
12 days ago

How come Martha Stewart was sent to prison for “insider trading” and Nancy Pelosi does not even get charged with the crime?
Justice system means Martha did not know the right people to beat the rap.

Ford Hubbert
12 days ago

Nancy identified as R-CA? Does any one proof read these stories. Plz explain.

Granny26
12 days ago

I hope they won’t let her leave Taiwan,,,but doubt they want her either.

Kevin
12 days ago

The Pelosi’s could not care less about taxpayers. Nancy uses the stupid, lazy, and easily manipulated grifters as her useful idiots.

Barb
12 days ago

Thankyou Mr. Charles for stating what has been happening with “Insider Trading” by Pelosi and other White House staff. It is good to reveal what has been going on for years now. I hope they pay for their corruption.

Rik
12 days ago

CONGRESS IS FULL OF CROOKS & SWINDLERS AND WILL CONTINUE AS SO AS LONG AS THERE ARE NO TERM LIMITS!

J. Farley
12 days ago

This can all be explained, it’s Lie, Cheat and Steal! With no Honor among Thieves!

zoe frost
12 days ago

Spawn of satan, Commie viper, traitor-to-America Pukelosi’s incessant, flagrant usage of insider trading is egregious, but the fact that WE are paying for her jetting to Taiwan to visit her latest acquisition is contemptible.

anna hubert
13 days ago

How many would run for the office had it been a position of honor and duty how many would run if paid only for days of actual work performed, that is the only way to separate grain from chaff a voter with functioning brain would be a bonus

Eldridge C Koppen
11 days ago
Reply to  anna hubert

Harry Truman is the only one that ever left office with no more than he went in with.

PaulE
13 days ago

Yes RBC, if anyone but a member of Congress were behaving this way and violating so many existing laws, they would have already been arrested and likely found guilty in a court of law. However, members of Congress are NOT stupid. They know enough to exempt themselves from almost every law, that would stand in the way of monetizing their positions for personal profit. No one working in Washington, D.C. for $174,000 a year, in one of the most expensive areas of the country to live, would be become a millionaire in just a few short years. As I said, members of Congress are NOT stupid. At least not when it comes to ways to personally enrich themselves.

Public service was never intended to be a lucrative career. Our Founding Fathers envisioned citizen representatives, who would serve one or two terms in office if their personal finances allowed, and then returning to their normal lives in the private sector. The advent of the career politician, that started to be prevalent after the Civil War, changed the dynamics of what it meant to be a politician and NOT for the better. The public’s growing apathy and laziness towards being informed of what their political representatives were doing in office, over the course of decades, removed much of the electorat’s oversight of these politicians. Politics went from being a temporary vocation to a lifelong career. Today we have members of Congress who essentially spend their entire adult lives on the public payroll. Never having been exposed to what it is like to work in a for profit environment with personal accountability to deliverable metrics. In essence, completely detacted from the real world they were passing laws and regulations on with no idea how any of the real world works.

As for criminal investigation and prosecution, I’m sorry but if the person is a high level Democrat that just doesn’t happen. If you think AG Garland, who spends his time looking for parents who speak out at school board meets and classifies them as domestic terrorists is going to go after Pelosi or Biden or any other high level Democrat, I have a great, big beautiful bridge to sell you in Brooklyn. The same holds true for Chris Wray of the FBI, who has sat on a mountain of evidence against the Biden family for now over 3 years. D.C. is a Democrat run town from top to bottom. It’s been that way for decades now. Could it all be cleaned up? Sure, but most people would rather live with the status quo, than take on that massive task.

Rik
12 days ago
Reply to  PaulE

You ALWAYS speak the truth! . . . Thank you for your wise comments PaulE!

Max
12 days ago
Reply to  PaulE

Again, Paul E, your comment is on the mark. Congressional members have been getting away with criminal acts for many years and despite the evidence found, there has been no legal prosecution against such offenders. Unfortunately, this situation will continue to transpire where evil deeds are perceived as good while good becomes evil in the eyes of the beholder.

Scott
12 days ago
Reply to  PaulE

I appreciate/enjoy your comments as much as most of the articles.

Dan W.
12 days ago
Reply to  PaulE

As for criminal investigations and prosecutions, I don’t recall either Sessions or Barr being too interested in stopping these sorts of shenanigans either.

PaulE
12 days ago
Reply to  Dan W.

Both were lifelong inhabitants of the administrative state. Just coming from different parts of it. Neither Sessions not Barr were particularly interested in the AG job beyond the status of the office.

One of the things I remember from by relatively brief time in the federal government was the almost universal deference to the mindset of “this is how things have already been done” and almost everyone just blindly accepting the status quo. I wouldn’t expect anyone who spent essentially a lifetime in D.C. to be too keen on investigating or prosecuting much of anything. Especially when it comes to Democrats, that have dominated the administrative state for several decades. D.C. is almost like its own separate country or should I say monarchy.

Eldridge C Koppen
11 days ago
Reply to  PaulE

D.C. run by Dems is like Chicago being run by the Daley dynasty.

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