With an estimated net worth above $100 million, Speaker Nancy Pelosi is no fan of imposing a ban on Congressional stock trades.
When questioned about recent trading scandals involving members of Congress and if members and their spouses should be banned from owning individual stocks entirely, Pelosi replied “No,” elaborating “We’re a free market economy. They should be able to participate in that.” The question stemmed from an Insider report that found that 49 members of Congress failed to correctly report their financial trades as required by the STOCK Act.
As was specified in the question, the journo was asking if members should be banned from owning and trading *individual* stocks, not mutual funds or ETFs that own a basket of stocks, making Pelosi’s response that a ban would prevent them from participating in the market even more nonsensical.
Watch below:
As it turns out, Pelosi’s stock portfolio has come under scrutiny before, with a 60 Minutes report from 2012 making a strong case for insider trading on her part:
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