Did you know it is not illegal for members of Congress to engage in insider trading?
America’s most famous homemaker, Martha Stewart, did prison time for selling a stock on a tip – but there are next to no regulations on Nancy Pelosi and her ilk engaging in similar practices.
Now one Red State Senator is making it his mission to remove the Deep State’s unfair advantage in the markets.
Republican Sen. Josh Howley of Missouri has introduced legislation making insider trading in Congress illegal.
The legislation is long overdue as it’s baffling to believe this isn’t already a law.
Sen. Howley, who has spoken about the rift between working Americans and the “metropolitan elites” since he first ran for the Senate in 2018, believes this bill would go a long way in evening the playing field.
“Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other at the expense of the country,” Hawley said. “Here’s something we can do: ban all members of Congress from trading stocks.”
The Post Millennial is reporting the bill would ban members of Congress from investing in securities, futures, commodities, and derivatives.
Furthermore, if passed, the legislation would force newly elected members of Congress to divest or transfer any currently held investments that would be in violation to a “blind trust.”
According to the report, violators would face forfeiture of profits, inability to claim the lost profits on taxes, and fines as punishment.
Podcast king Joe Rogan has addressed this very topic on his program.
Rogan believes the issue comes down to a very easy question.
“Should you be allowed to participate in the stock market when you’re influencing the direction of the stock, or when you know which direction something’s going to go in,” Rogan asked. “Or, when you’re going to pass a law that’s going to benefit these businesses, that’s going to force the stock to go up, and you know that, so you invest a s**t-ton of money before it happens? That seems like it’s a problem.”
Speaker of the House Nancy Pelosi purchased a great deal of stock in Tesla just as the Biden administration was set to take office.
Wouldn’t you know it, President Joe Biden then signed a series of executive orders benefiting Tesla.
And Speaker Pelosi raked in the cash.
The Daily Wire reports, Congressmen and women, along with their immediate families exchanged over $630 million in stocks in 2021.
Sen. Hawley is now asking his colleagues to simply play by the same rules as every other American.