During a Tuesday guest spot on Jesse Watters, Matt Gaetz (R-FL) said, Alexandria Ocasio-Cortez is often wrong, but she’s not corrupt,” and that he would “work with anyone and every one to ensure that Congress is not so compromised.”
Gaetz has said lawmakers should disallow congressional stock trading because we don’t allow the ref to bet on games. He said Congress made 780 million dollars worth of trades in 2022.
Gaetz said he thinks Congress should end this stock trading in Congress, which has about as much integrity as a Lia Thomas swimming competition.
Gaetz speculated that the “Pelosi Provision” in the plan would prevent spouses from trading on behalf of family members and added that this would show Americans that “we’re working for them, not our pocketbooks.”
This plan has been bandied about since 2011, never seeing the light of day.
Former House Speaker Nancy Pelosi has argued for and against a prohibition on stock trading by members of Congress over the years. She has said our economy is based on free trade. “This is something they should be able to participate in,” Pelosi asserted in 2021.
In 2011, House Speaker Nancy Pelosi (D-CA) said she was willing to move forward with legislation prohibiting members of Congress from trading individual stocks after opposing such legislation.
At a weekly news conference, Pelosi told reporters, “I just don’t buy into it, but if members want to do that, I’m OK with that.”
She stated she didn’t think it was essential since she had faith in her coworkers, and the law required regular disclosure.
To that end, she had requested that the House Administration Committee review the STOCK Act, introduced by then-Senator Joe Lieberman, which mandates that members report trades regularly and file reports within 45 days, and has indicated that she is open to increasing penalties for lawmakers who do not meet these requirements.
When asked about allegations of insider trading, Pelosi answered, “That’s a Justice Department issue.” Under current regulations, legislation makers can be charged with insider trading.
In 2018, Pelosi was estimated to have a net worth of approximately $115 million by the non-profit organization OpenSecrets, making her one of the wealthiest members of Congress.
A “60 Minutes” report from 2011 singled out Pelosi and several other lawmakers, implying they had profited from a Visa initial public offering.
Immediately following the story, Pelosi defended herself, claiming she had a strong reputation in that industry. The Pelosis only bought a small percentage of their stock at the IPO price, but a Pelosi spokesman defended the deal on Tuesday, arguing that the couple received no special treatment.
The fact that it’s called the Pelosi Provision should be a source of shame for the representative.
She has no shame.