Congressional insider trading. Pelosi Act. (Now Honest Act)

[YoursTruly]

Stopping congress from trading while they're congressmen... Great idea, right?

Congress has just passed the PELOSI Act legislation that would ban stock trading by members of Congress passing it out of committee in a narrow 8-7 vote.




Trump supporters. Before you start supporting this, just know, Trump doesn't like the idea.

Trump attacks GOP senator Josh Hawley over bill to ban stock trading​

 

[1srelluc]

It's unfair to the citizens who follow congress-critter trading....They have a better return than hedge funds so why should be public lose out?

 

[YoursTruly]

So if citizens get insider trading info, we go to prison. If they get it, or pass laws that affect it, they're OK?
Yeah nah.



BREAKING: In a shocking moment, Sen. Rick Scott (net worth: $550M) came out hard against the ban on congressional stock trading. "this idea that we're going to attack people because they make money is wrong."

An 86% majority of voters support the ban.

 

[scruffy]

Shame on Rick Scott for trying to sell this as a simple money making issue.

 

[YoursTruly]

Rep. Anna Paulina Luna just said House leadership is trying to pressure her into NOT bringing a petition to pass a ban on Congressional stock trading.

"I was told that I was 'putting the republic in jeopardy' because 'I was going to cost us the midterms' if I brought this to the floor. What I'm trying to do is save the republic. If you think that's the biggest problem we have in this country maybe you should not be in a leadership position."

"I can tell you I got a lot of pushback from leadership. I received calls from other members of Congress as well saying that what we were doing was 'going to hurt people.'"

"I'm trying to do a discharge petition because Congress has continuously messaged on this but refuses to bring a bill to the floor that would force members to vote."

"Either put it on the ground and let us vote or you can continue to lie to the American people on your position on thinking you should defend insider trading when everyone knows it's bipartisan and needs to stop." -

 

[struth]

Stopping congress from trading while they're congressmen... Great idea, right?

Congress has just passed the PELOSI Act legislation that would ban stock trading by members of Congress passing it out of committee in a narrow 8-7 vote.




Trump supporters. Before you start supporting this, just know, Trump doesn't like the idea.

Trump attacks GOP senator Josh Hawley over bill to ban stock trading​

I agree with Trump, I think it’s silly to suggest they shouldn’t be allowed to invest

The issue is folks like xiden that sold his office and needed blanket pardons for his co conspirators

The issue is not prosecuting pelosi for insider trading

 

[TNHarley]

Trump says this is bad for our country. Of course, he is wrong.
Its only bad for congress and the P and VP.
So cry me a river peaches-n-chief. Hope this thing passes.
I also love how the acronym is PELOSI

 

[Twisted Gypsy Child]

Trump says this is bad for our country. Of course, he is wrong.
Its only bad for congress and the P and VP.
So cry me a river peaches-n-chief. Hope this thing passes.
I also love how the acronym is PELOSI

well it looks like it does not apply to Trump




The Senate Homeland Security and Governmental Affairs Committee last week advanced a bill that would bar not only members, their spouses, and their dependent children from buying and trading stocks, but also the president and vice president — with a carve-out for President Trump, since the requirement would not apply until the start of the elected officials’ next terms.

https://www.yahoo.com/finance/news/push-ban-lawmaker-stock-trading-100000249.html

 

[Twisted Gypsy Child]

gosh if they would take the Social Security money and invest it like they do the solvency issue would be solved quickly

Nancy Pelosi made out like a bandit, Social Security could do the same

 

[LeftofLeft]

Stopping congress from trading while they're congressmen... Great idea, right?

Congress has just passed the PELOSI Act legislation that would ban stock trading by members of Congress passing it out of committee in a narrow 8-7 vote.




Trump supporters. Before you start supporting this, just know, Trump doesn't like the idea.

Trump attacks GOP senator Josh Hawley over bill to ban stock trading​

And?

I don’t support 100 percent of Trump’s policies and views.

 

[struth]

gosh if they would take the Social Security money and invest it like they do the solvency issue would be solved quickly

Nancy Pelosi made out like a bandit, Social Security could do the same

It has

 

[Twisted Gypsy Child]

It has

nope not invested like Nancy Pelsoi's investing

No, Social Security funds are not invested in the stock market.

• Investment Restrictions: By law, Social Security reserves can only be invested in securities backed by the U.S. government, such as Treasury securities.
• Safety and Liquidity: This approach prioritizes safety and liquidity, allowing the Social Security Administration to readily access funds needed to pay benefits.
• Low-Risk Investments: Most Social Security trust fund holdings consist of special non-marketable Treasury securities. These low-risk investments carry the average interest rate of government notes and bonds that mature in four or more years and are outstanding at the time the special securities are issued. While offering a low return, these securities can be sold back to the Treasury at par at any time, unlike publicly held notes or bonds that fluctuate in market price.
• Arguments for Stock Market Investment: Some have argued that investing a portion of the trust funds in the stock market could potentially yield higher returns, according to a Brookings article. However, others argue that this would be too risky and could jeopardize the financial stability of the program.
• Current Law: Current law strictly limits investments to U.S. government-backed securities.