House Minority Leader Kevin McCarthy, a Republican from California, took a big shot at House Speaker Nancy Pelosi, a Democrat, also from California, during a press conference on Friday, as reports indicate Democrat lawmakers are now planning to introduce a new bill that will ban stock trading by members of Congress.
According to a report from Newsmax, MCarthy stated it would be inappropriate for Pelosi to write the legislation, since her venture capital hubby, Paul Pelosi’s, investments.
The Pelosi family has made themselves extremely wealthy from the stock trades Paul has made, according to information from a report by Insider.
“I think we have to do a thorough investigation and look at what is the proper role for members of Congress and what influence they have, and I don’t think the proper way to do this is Nancy Pelosi writing the bill because we have proven that she can’t do that,” McCarthy went on to say during the press conference.
“On Tuesday, Pelosi signed a periodic financial disclosure revealing that her husband had sold up to $5 million in shares of software company Nvidia, at a loss of $341,365. A separate financial disclosure from July 14 showed Paul Pelosi had exercised 200 call options for Nvidia in June,” the report stated.
The documentation that shows the sale of stock came about just a day before the Senate passed a semiconductor bill, which then passed in the House the following day. Gee, that’s super convenient, right? I’m sure that had nothing to do with Pelosi receiving any sort of stock tip. Roll your eyes here if you like.
“According to Punchbowl News, House Democrats are planning to roll out a bill in August that would prohibit lawmakers, their spouses, and senior staff from trading stocks, and would require them to divest entirely or put the investments into a qualified blind trust. Sources told the news outlet that affected individuals would still be allowed to invest in mutual funds,” Newsmax reported.
McCarthy then went on to say Friday that Pelosi might have shared some critical information concerning the semiconductor bill with her husband, though he could not actually confirm those conversations took place.
“Look, I think the Speaker of the House has greater determination of what comes to the floor, what gets out of the committee,” McCarthy continued. “And her husband didn’t just trade stock, he traded options. I think what her husband did was wrong.”
“When she said she never told him anything, I know they spent their time together overseas and when they’re coming back, I’m sure she had conversations on the phone about what was going to be on the floor,” the House Minority Leader said.
“I’m sure she had conversations about what the chip version finally looked like. I’m sure she had those conversations; I don’t know if he was able to hear them or not. But I think we need to bring trust back to this institution,” McCarthy then said.
McCarthy then promised that if the GOP takes the House in the midterm this fall, he would “look all the way through” the legislation in order to prevent any lawmakers from being able to do stock trading. McCarthy then stated he himself only owns mutual funds and does not own any stocks.
There’s no way a public servant should finish their time in office and come out filthy, stinking rich. Our Founding Fathers did not design the system to be worked like that. Politicians should want to go back to the private sector and work hard to provide a product or service that benefits people, remembering what’s like to have to earn a real living.
Getting rich by working in Congress is shady.
This story syndicated with permission from michael, Author at Trending Politics
Notice: This article may contain commentary that reflects the author's opinion.
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