House Speaker Nancy Pelosi (D-CA) clearly isn’t concerned with pesky old “ethics” issues if several of her recent financial transactions on Wall Street are any indicator.
According to the Washington Examiner, just two days after she went on the defense regarding members of Congress playing the market and seemingly always making the best possible trades, Pelosi and her husband purchased millions in call options for major companies like Disney and Google.
It was on Dec. 15 that Pelosi shot back at reporters about Congressmembers dabbling in the stock market, saying it’s perfectly acceptable because “We’re a free market economy.” She added, “They [lawmakers] should be able to participate in that.”
Technically, it’s Paul Pelosi, her husband, making the glorious trades that seem to always result in a financial boon for the already extremely wealthy California couple.
Recently, Paul Pelosi went on a Wall Street shopping spree by purchasing between $500,000 and $1 million of Alphabet (Google’s parent company) stock. He added Disney shares, to the tune of somewhere in the neighborhood of $250,000.
“Three days later, on Dec. 20, the couple made two separate purchases in Salesforce — one worth between $100,000 and $250,000 and another between $500,000 and $1 million, as well as one purchase of Roblox worth between $250,000 and $500,000,” the Examiner noted, citing recently published financial disclosures.
Interestingly, while most of the Democratic caucus closely protects the speaker at all costs, progressive “Squad” Rep. Alexandria Ocasio-Cortez has vastly different thoughts regarding members of Congress making stock trades, backing the idea of banning the practice.
“I choose not to hold any so I can remain impartial about policy making,” Ocasio-Cortez said on Instagram. “I want to do my job as ethically and impartially as I can.”
This is clearly an issue that needs to be addressed, as examples continue to emerge of members of Congress entering public office without much wealth, and leaving with piles of cash, houses, and various assets. That’s definitely not what the Founding Fathers had in mind for those elected to high office.