Nancy, Nancy, Nancy
It appears that Nancy Pelosi has decided to stop opposing a ban on stock trading by Congressmen, because ……… I don’t know for sure, but I am pretty sure it was not a “Road to Damascus” moment.
She, and her husband, have been making too much money, for too long a time, to suddenly be stricken by an attack of conscience over this issue.
If I were being charitable, I would say that it was probably because she counted the votes, and knew that there was no way for her to win.
Even with my criticisms of Pelosi for her tone-deaf posturing, and empty gestures, and (admittedly technically legal) corruption, she has always shown that she has the ability to count votes:
House Speaker Nancy Pelosi (D-Calif.) shifted her public position Wednesday on banning lawmakers and their spouses from owning and trading individual stocks, saying more readily that she would support a ban if members of her caucus wanted to do so.
In December, Pelosi had swiftly shot down the idea that lawmakers and their spouses should not trade individual stocks while in Congress.
“We’re a free-market economy,” Pelosi told reporters then. “They should be able to participate in that.”
In January, Pelosi signaled that she could be open to a ban but seemed reluctant.
“I just don’t buy into it, but if members want to do that I’m okay with that,” Pelosi told reporters then.
Asked Wednesday about legislation to ban lawmakers from trading stocks, which has gained traction in recent weeks, Pelosi sounded more amenable — albeit far from throwing her full support behind it — noting that the Committee on House Administration is reviewing options members had submitted.
A recent Business Insider investigation found that, since 2020, 49 members of Congress and 182 staffers have violated the Stock Act by not reporting their trades in a timely fashion, with minimal or no consequences.
On Wednesday, Spanberger said Pelosi appeared to sidestep the fact that there is already bipartisan legislation gaining traction in the House.
Spanberger also noted that Pelosi did not outwardly endorse a ban on lawmakers trading stocks, and when asked directly, she also “didn’t speak to the necessity that the ban include spouses.” Pelosi’s husband has been highly active in trading stocks, Business Insider has reported, citing financial disclosure reports.
Asked about a possible ban Wednesday, White House press secretary Jen Psaki said it was “early in the legislative process” but pointed out that President Biden did not own or trade stocks while he was a senator.
Good old Nancy Pelosi. She can be relied on to do the right thing ……… After exhausting every single possible alternative.