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U.S. Senator Josh Hawley (R-MO) has had enough. Too often we hear stories in the news about politicians buying and selling stocks, and while we may not know for sure, many suspect they use privy information to do so.
The ethics of doing something like that if congressmen or women do seems very sketchy at best in our view. Hawley took a not so subtle jab at former U.S. House Speaker Nancy Pelosi (D-CA) when naming his new legislation that he is proposing.
The official name is the “Preventing Elected Leaders from Owning Securities and Investments Act” or the Pelosi act. Many have accused Pelosi and her husband of trading stocks and options with good results, enriching themselves potentially off of information gained while Pelosi was an elected official.
There’s a chance some Democrats will support this bill, which would further hurt Nancy Pelosi’s sensitive feelings for sure in our view. Josh Hawley tweeted:
“Members of Congress and their spouses shouldn’t be using their position to get rich on the stock market – today l’m introducing legislation to BAN stock trading & ownership by members of Congress. I call it the PELOSI Act”
Time will tell if enough legislators jump on board or if some try to get the name changed to pacify their hero, one Miss Pelosi herself.