Member-only story
Let’s Talk About Nancy Pelosi’s Stock Ban Bill.
Unsurprisingly, her proposed legislation to ban lawmakers from trading stocks is an absolute joke.
Virtually everyone has come to realize by this point that the global Covid-19 pandemic we’ve been living with for going on three years now hasn’t been so bad for everyone. We saw the very richest people in the country and around the world literally double their wealth, all while millions lost their jobs and millions more died alone in overrun hospitals, drowning in their own fluids. As if it wasn’t difficult enough to watch someone like Jeff Bezos rake in hundreds of millions of dollars while his employees struggle in grueling working conditions, the added cherry on top was learning that lawmakers decided to take the opportunity to cash in as well, using their knowledge of what was coming to make some…adjustments to their stock portfolios.
Of course, learning about our lawmakers engaging in blatant insider trading has renewed the sentiment that those in public office and their immediate family members should not be allowed to buy and trade stocks. Understandably so, considering not only are they privy to information that can have a direct impact on the market, they’re also responsible for the legislation that impacts the market.
