Senator Josh Hawley (R-MO) is renewing calls for a Congress stock trading ban.
After news broke that Speaker of the House Nancy Pelosi’s husband Paul Pelosi purchased millions in semi-conductor stocks as Congress readies a vote on a $52 billion subsidy for the industry, prominent GOP voices blasted the Pelosis for their history of suspected insider trading.
“Ban stock trading for members of Congress & their spouses. Call it the Pelosi Act,” Hawley tweeted, along with a Fox News article on Paul Pelosi’s controversial stock purchase.
Ban stock trading by members of Congress & their spouses. Call it the Pelosi Act https://t.co/pMpl4sQC6N
— Josh Hawley (@HawleyMO) July 18, 2022
“It’s time to stop turning a blind eye to Washington profiteering,” Hawley said earlier this year while introducing the Banning Insider Trading in Congress Act. “Year after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they’re supposed to be regulating. Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other at the expense of the country.”
A Speaker spox issued a statement from Nancy Pelosi on the stock purchase.
“The Speaker does not own any stocks. As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions,” Nancy Pelosi’s spokesman, Drew Hammill, said in a statement to FOX Business.
“Nancy Pelosi is the ultimate insider,” says Rep. James Comer (R-KY). “Not only is her husband buying stock options on a much higher level than the average member of Congress,” Comer said. “The average member of Congress may buys $5,000 or $6,000 of stock. He’s buying $500,000 worth of stock. He’s buying stock options which expire. To be able to trade stock options profitably, you have to know exactly which direction that stock’s going to move, and you can make a huge profit. This is wrong. This is another example of the media turning a blind eye to Nancy Pelosi’s bad behavior and unethical behavior.”
Continue reading over at Fox News:
Nancy Pelosi’s office responds to husband’s controversial computer chip stock purchase ahead of Congress vote https://t.co/AoJoUiGVQH
— Fox News (@FoxNews) July 18, 2022