Pelosi Walks Back Statement on Stock Trading by Congress

Nancy Pelosi used Congress to get rich and powerful beyond normal limits. Now Pelosi believes herself to be an untouchable.

In the past, Pelosi has proven herself to be tougher than a $3 steak. With the help of many others, Pelosi orchestrated the biggest coup in world history, ousting President Trump. And a bloodless coup at that.

Next, Pelosi then participated in the biggest money grab in world history. Ironically, she used a Chinese bioweapon to get more wealth than even she believed possible.

I wrote a while back that from 2008 to 2010 Pelosi’s net worth grew from roughly $12 million to almost $36 million. Pelosi damn near tripled her net worth during one of the worst economic periods in American history. The Hill wrote of Pelosi’s financial prowess in this article:

House Minority Leader Nancy Pelosi (D-Calif.) saw her net worth rise 62 percent last year, cementing her status as one of the wealthiest members of Congress.

Pelosi was worth at least $35.2 million in the 2010 calendar year, according to a financial disclosure report released Wednesday. She reported a minimum of $43.4 million in assets and about $8.2 milion in liabilities.

For 2009, Pelosi reported a minimum net worth of $21.7 million.

Speaker John Boehner (R-Ohio) also remained a multimillionaire. He reported that his minimum net worth in 2010 was close to $2.1 million, with zero liabilities. His 2009 minimum net worth was more than $1.8 million.

Note Boehner’s growth in income from $1.8 million to $2.1 million. That number is a lot easier to explain than the 66 percent gain by Pelosi.

Still, that growth pales when compared to how well Pelosi has done financially in the decade since.

The Success Bug writes:

Have you ever wondered what the net worth of Nancy Pelosi is? As one of the most prominent members of the United States Congress, the woman has built quite the resume. Not only is she active in politics, but she’s also a well-known investor and philanthropist. As of February 2022 Nancy Pelosi has a net worth of $114.7 million. This post, will show you exactly how Nancy Pelosi built her net worth.

Is it any wonder why Pelosi doesn’t want Americans looking into her investments?

The Spectator writes,

By now, many Americans are aware of the bombshell series of reports from Business Insider which accused members of Congress and their staffers of violating the 2012 STOCK Act, which regulates congressional securities trading. If there has been a figurehead for these reports, it has been none other than Speaker of the House Nancy Pelosi, who infamously defended members’ ability to sell individual stocks despite their access to non-public information that directly affects the market. However, after witnessing public disapproval and universal dissent within both major political parties, and even from former President Donald Trump, it would seem Pelosi has started to publicly backtrack from her prior views and is now publicly entertaining restrictions on congressional trading.

At her weekly news conference last week, Pelosi said that she could accept a ban on the ownership of individual stocks by lawmakers so long as the new rules also applied to the judicial branch.

Of course, her support is tepid, but it sure is a big change from the, “We’re a free market economy…” position she took just a little over two months ago. Presumably, the spotlight will now shift to the multiple proposals that are floating around to regulate this issue, many of which are backed by bipartisan sponsorship.

Pelosi and her Leftist cronies may be the reason for the TRUST in Congress Act.

This bipartisan legislation proposed by Reps. Abigail Spanberger (D-VA) and Chip Roy (R-TX). The TRUST in Congress Act would ban congressional members and their immediate family members from trading securities individually, however they could still own securities held solely within a blind trust.

Another bipartisan proposal from Sens. Elizabeth Warren (D-MA) and Steve Daines (R-MT), the Bipartisan Ban on Congressional Stock Ownership Act goes a step further. Warren’s bill bans members of Congress and their spouses from owning and trading individual stocks completely. These are just two of the proposals on the table but there are many others coming from both sides of the aisle. And this type of legislation polls well.

American voters fall between 67 percent and 76 percent in favor of banning sitting congressional members from trading securities. Interestingly, the issue resonates with majorities of registered Republicans, Democrats, and Independents.

Politicians should not get rich while in public service. They speak often of limits on the private sector, but never for themselves. Now is the time to implement these changes. You can bet that if politicians can’t profit from their office, they will term-limit themselves.

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