Pelosi’s Dirty Stock Trading Loophole
They always find a way.
Americans were furious after learning just how much money lawmakers such as House Speaker Nancy Pelosi and other politicians were making off of the stock market.
This prompted Congress to act immediately and introduce a number of bills to stop politicians from profiting off the stock market with information that the rest of the American public doesn’t now.
However, now it appears that these dirty lawmakers may have already found a loophole that will continue to let them trade stocks and make themselves even richer.
According to Read Sludge, several of the proposed bill, which would prevent lawmakers from trading stocks, already have loopholes in them that could limit their effectiveness.
Sludge appears to have found one loophole that would allow senators and representatives’ spouses the ability to continue trading stocks. There also appears to be a loophole in some of the bills that only “pertains to the types of investments that would be targeted.”
Currently the two most supported stock-banning bills in Congress are the Ban Conflicted Trading Act (H.R. 1579 and S. 564) and the TRUST in Congress Act (H.R. 336). Funny enough however, both of these bills would ban Congress from trading individual corporate stocks BUT both of these bills would still allow politicians to trade things such as mutual funds or exchange-traded funds composed of bundles of corporate stocks.
