After touting Congressional day trading as one of the free-gifts, market’s Nancy Pelosi had to retract her position and urge for a stop to the activity.
While she’s starting to say the correct things when asked why members of Congress should be permitted to buy and sell stocks based on information that only they have, she’s still holding out on one key component of such a law, one that would make a stock-trading prohibition ineffective.
Without a ban on stock trading, members of Congress like Dan Crenshaw and Nancy Pelosi, who made enormous returns on their portfolios last year, could simply call up their better half and tell them what they should buy or sell and when.
Nancy Pelosi has already been accused of it. Paul Pelosi, her husband, gained millions from call options on tech stocks while apparently working on a measure to rein in Big Tech. Shortly after Pelosi defended Congressional stock trading, she and her husband bought millions in call options.
If a restriction on Congressional stock trading does not include spouses, they might simply have their wives execute the deals they intended to make.
That this explain why Pelosi began to squirm when asked if she would support a ban on spouses of members of Congress trading individual stocks, despite the fact that she currently theoretically supports such a ban.
