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Congress Trades Illegally – Pelosi’s Plan

Posted on Wednesday, October 5, 2022
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by AMAC, Robert B. Charles
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15 Comments
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Dodge, weave, and collect a “get out of jail free” card. Members of Congress reprehensibly trade on insider information, by inference if not admission, continuing to get rich – in Nancy Pelosi’s case her husband a millionaire on “wife privilege.” Democrat leaders just killed the bill that would criminalize “insider trading” by Congress. If Republicans take the House, do it – fast.

Countless Republicans – those deplorable “enemies of the state” – want Congress held accountable for cheating, together with some Democrats. They got stuffed by the Speaker, who thinks no penalties should issue for congressional cheating to get rich. Even some concerned Democrats are in disbelief.

You will say, “Common man, it is just stock, we know what we know” or “cut members of Congress a break,” or maybe “it is not that bad, is it?” Answer: It is illegal, bad as bad is.

Fact: This is epidemic and includes Republicans. A fifth of Congress is open to question. Specifically, “from 2019 to 2021, 183 current senators and representatives reported a trade of stock or another financial asset by themselves or an immediate family member.” That is avoidable – very simply by not trading while in office, a blind trust, or divestment.

So, why did it happen? And why should it happen? “More than half of them sat on congressional committees that potentially gave them insight into the companies whose shares they reported buying or selling …” notably, including Nancy Pelosi, the Insider Goddess.

So, what is so complicated about holding members of Congress accountable to the same basic standard that applies to every American citizen – who is not in Congress?  What is so hard about saying, “If you get inside information from your job, position, friends, colleagues, privileged briefs, or any other source, you cannot make stock trades on that information – or you are subject to investigation and potential prosecution for a felony?”

Yet here we are: A bill pushed hard by Republicans and supported by many Democrats, which would shine a bright – arguably a blinding – light on Pelosi and current US House leadership, was sunk by Pelosi last week.

Who would it have called out? Who would it have made obey the law, or face prosecution? Beyond Pelosi, for which evidence is considerable, how about those who played fast and loose with the “due process” during Trump’s two “show trial impeachments,” like Adam Schiff or Democrat colleague Senator Feinstein? 

The esteemed Mr. Schiff, Senator Feinstein, and other quick detractors of Republicans – many of whom never saw an anti-Trump allegation they did not accept without inquiry – seem to be “exhibit one” when it comes to suspicious stock trading.

Wrote the LA Times this year, naming Feinstein, Democrats, Republicans, boosting prior numbers: “At least 113 lawmakers disclosed stock transactions made by themselves or family members in 2021…trades worth an estimated $355 million.”

Wrote Barrons before that: “Congressman Adam Schiff…resumed selling Apple stock.” Truth is, these luminaries are not alone. When the “sooo-eee” call comes, many answer and trade. The numbers are staggering.

So, the real question – as anti-woke, anti-privilege, antagonized, wolfish Americans circle Congress at midterms – is “How can the House Speaker pull the bill that for a year has been awaiting a vote, on which many Americans expected a vote, and which would pull back that “get out of jail free” card for insider trading by members of Congress?

Here is the deal: When you see a member of Congress, when you bump into their wordy, self-serving ads, when you hear them say they are all for you, not for themselves, selfless not selfish – ask them, or just ask yourself, who are they serving when they deep-six a bill that would have made illegal what they are doing, trading on information no one else has, to make themselves rich?

Much of what this Congress has done is a disgrace, objectionable, and will be central to the election this fall – but this issue should rile every American. When Congress permits illegalities to stay legal for themselves, who are they serving – you or themselves?

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FedUp
FedUp
1 year ago

How can anybody be surprised by this. This is what these pieces of S**t do

Patriot Will
Patriot Will
1 year ago

While in office no politician should be able to become rich because he/she comes across information that gives him/her unfair advantages in stock trading. In the business world there are plenty of non-politicians who are in prison for insider trading schemes; however, there are no politicians getting in trouble for basically doing the exact same thing. Pelosi and her ilk are big time crooks who are getting rich looking out for themselves, while hard-working Americans are getting poorer and poorer. The entire hypocritical setup is disgusting.

PaulE
PaulE
1 year ago

As you know RBC, if any other federal employees outside of Congress engaged in the type of insider trading activities members of Congress are allowed to get away with on a regular basis, we would all receive a knock on the door from the FBI and be hauled off for violating several federal laws and regulations. That there are whole web sites dedicated to tracking what Paul Pelosi is trading tells us almost no one actually believes his amazing financial success record, which beats almost every hedge fund and major Wall Street firm’s record, has anything to do but being totally reliant on advanced, insider information being funneled from Nancy to her husband about pending federal legaislation she controls.

If anyone thinks people like Nancy Pelosi and others in Congress are simply going to voluntarily give up the single most important perk they have, being able to financially benefit themselves to the tune of millions of dollars through paper-thin veneers of using familiy members or other third party resources to mask the transactions, then I have a bridge to sell you in Brooklyn. At this point, the Democrats know no one is going to stand up to them. They control all the federal law enforcement agencies, so they can safely give the middle finger to the American public when it calls for an end to this insider trading practice for Congress.

Do I expect the leadership of the Republican Party in Congress, meaning McConnell and McCarthy, to make this issue a top priority should they regain total control of both chambers of Congress? NO! Neither Mitch nor Kevin will go anywhere near this issue in terms of creating actual legislation to end the practice.

BRUCE Baker
BRUCE Baker
1 year ago

Blatant corruption, shove it in your face and dare you to do anything about it!

Boz
Boz
1 year ago

Martha Stewart should have been a congress-critter.

anna hubert
anna hubert
1 year ago

Proverbial haystack comes to mind,trying to find one clean hand in DC

Betty
Betty
1 year ago

Don’t just write about it! Give names, and we can eventually get the crooks out. It takes knowing before we can act by replacing them.

tika
tika
1 year ago

that loud screeching noise are the critters going down the drain in the swamp. it’s still going to take years of the same noise before they’re all gone down the drain!!!

John
John
1 year ago

Political grifters keeping political grift legal. Is anyone really surprised?

Nick
Nick
1 year ago

There is a bill on its way to ban all sitting members of Congress from trading stocks. Hopefully voters on both sides will push for it to pass. Trading by any member of Congress is insider trading, full stop.

GTPATRIOT
GTPATRIOT
1 year ago

Well the “insider message” today is to get the hell out of the stock market. You really don’t have to watch your stock value drop every day. Do we know that ? I hope so. But I really wonder. We are a people who decided that Donald Trump was “just not the right guy” Please….please…
please tell me who is. Its certainly not the current incumdimwit.

GTPATRIOT
GTPATRIOT
1 year ago

I have asked many time on this website why did we choose Bidemwit over Donald Trump. And no one has provided an answer. I have the same curiosity about why we allow our schools to go to
hell, our borders eliminated and our jobs to be exported. No one knows. Is the devil now in control ? None of us can say why this tragedy is taking place. Until we have an answer and eliminate the danger, we’re done and we should be. If you cannot identify the enemy, you do not
deserve to continue. I don’t care for any opinion. I care for action and results. Thats all that
matters

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