Rich Welsh| Last week, House Speaker Nancy Pelosi (D-CA) was criticized by Joe Rogan on his Podcast because of her lackadaisical demeanor over members of Congress who allegedly get involved in certain stock market activity that isn’t legal for the rest of us.
According to a recent report by Business Insider, fifty-two members of Congress have broken the 2012 law known as the Stock Act that was written to block members of Congress and government employees from doing insider trading or using information that is not yet public for their own personal gains in the stock market.
Here’s what allegedly happens. The US House Committee on Financial Services has oversight on Securities and Exchanges, and, among other things, it gets information on a stock before it runs an Initial Public Offering (IPO). The members of the committee get all the information concerning the new stock. Some of that information can be used to determine if the stock will rise right after the IPO and helps to make a very educated guess as to how much it will rise in a short period of time.
Congress has been plagued for a long time with members abusing the privilege of reading the IPO information and they have shared the info with others who would purchase the stock once it was available on a market only to make a killing in returns on the stock. If you or I did that, we would be in prison for insider trading. This is one of the ways that a member of Congress goes to Washington not a wealthy person and after ten years has a vast fortune even though the salary of a member of Congress is above what most Americans earn, it doesn’t account for how they obtained their wealth while in Congress.
A reporter asked Pelosi about the allegations made in the Business Insider report. The Speaker dismissed the idea that members of Congress and their spouses should no longer be allowed to trade individual stocks.
Pelosi responded saying, “We have a free-market economy, they should be able to participate in that.”
“We have a free-market economy, they should be able to participate in that.”
— House Speaker Nancy Pelosi defends members of Congress being allowed to trade stocks pic.twitter.com/QjFC26etXd
— The Recount (@therecount) December 15, 2021
But it’s not a free-market economy when members of Congress do not play by the rules that the rest of us have to play by when they rig the game by using information about a stock that goes through their committee.
So, Pelosi believes that a law that was passed by Congress (including a Democrat-controlled Senate with Harry Reid as Senate Majority Leader) and signed into law by Democrat President Barack Obama, should be ignored because it’s a free market economy, so there. Does Pelosi believe members of Congress should be able to rob banks because it’s a free market economy? How about cheating on their taxes? The point is, it’s against the law and Pelosi dismissed it as if members of Congress should be allowed to break the law.
On an episode of the “Joe Rogan Experience” podcast that was posted last week, Rogan commented on Pelosi’s response to the question and noted that the Speaker appeared very nervous.
“Have you ever seen a person look more nervous?” Rogan asked.
“She’s giving this like very simplistic, almost vague answer,” he said. “Because 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? 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. That seems like it’s a problem.”
“Now why is that not a problem? Because we’re f***ing co-opted,” Rogan said.
WATCH:
Rogan earlier referred to members of Congress making money with the stock market by using the process of committees as a “genius con game.”
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The old lying alcoholic bitch is actually saying that members of congress can participate in each and every illegal activity. That’s for all you piglosi lovers who refuse to see the old bitch for what she really is. A criminal! She is an expert at shitting all over people. My hope for humanity is to see every DemonRAT and RINO removed from the face of the earth. Folks, it’s not just piglosi. With the exception of 4 or 5 congressman the whole lot is greedy and corrupt. They have done NOTHING for regular John Q. Citizen and they don’t intend to. It’s gonna be hot ? you greedy bastards and it’s for an eternity. Good riddance. God bless the great state of Israel ?? ? ? ❤ ♥ ? ?? !
100% Right and well said. I better not see any of these TRAITORS in Heaven. One of the biggest commandments they have all broken is bearing False Wittness on Trump. They all know he never broke any Laws and should have never been charged with anything. But every Damn DemocRAT voted to impeach him and they knew they were LYING. So burn in HELL all OF you. Hell is getting ready to get a large number of SINNERS very SOON. Because most of these people are pretty old and know one lives forever. The only bad thing about them dying is we have to waste more money to get ride of the Body. And they will have this day long funeral so they can all act like they care.
Wake up America! It’s always a shell game routine with these American Marxists who pose as Democrats and/or Republicans too; “LOOK OVER THERE….NOT OVER HERE!” Each and every other day, it’s the constant cry from them as to why we need to focus on either President Trump’s or the taxes of the rich. Well, from the forty thousand foot level…THEY ARE THE DAMNED RICH! What’s good for the goose is good for the gander! Everyone of these diabolical politicians and bureaucrats as well, need to have their taxes scrutinized over. A complete purge of every government agency starting with the DOJ, FBI and IRS must happen before anything substantial comes to fruition that resembles proper justice.
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Rogan better be careful he might end up with the FBI smashing down his door at 4 in the morning guns drawn etc.
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Didn’t they put Martha Stewart in jail for that ??? If so , then why is turkey neck Nancy any different . Why isn’t she going to jail for the dirty rat she is .
Again I have to say SO WHAT!! She is a Democrat and the Democrats / Communist get away with breaking any law they choose. She is the one who controls it all. The bottom line is she is QUEEN NANCY and no one will ever procecute her or any Democrat for anything. Face it America is run by the Obama’s, Clintons, Bushes, and the Communist Party China. And unless we get most of these TRAITORS in Prison and get back to the Constitution it is over here. The Left is going to Cheat in every Election we have from now on. Because they got away with it and got the worst person in History now DICTATING us. He accually came out and told us to ignore the SWAMPreme Court on the vaccine Mandate. If Trump had done that the left would have crucified him day and night 24 hours a day on every network including Fox. So anyone who ever thought Trump was this awful Dictator you are a complete IDIOT if you are not saying that of joe. He is a real BULLY DICTATOR, he is using the FBI to go after parents who stand up for their kids and Arrest them. I KNOW TWO OF THEM HERE IN ROUND ROCK, TEXAS. SO FU Democrat / Communist Traitors.