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Should Politicians like Nancy Pelosi Trade Stocks?

  • Writer: IWT
    IWT
  • Jul 13, 2024
  • 2 min read

So I am not sure why someone would think following a politician like Nancy Pelosi around and tracking her trading and portfolio activity would be a good idea. You can find several sites that do just that Capitol Trades, Smart Insider, and Bar Charts. Still, a new proposal exists to stop such politicians from trading.


A few senators have drawn up The Ending Trading and Holdings in Congressional Stocks (ETHICS) Act, which would implement the following.


  • Congress, their spouses, and their dependent children to divest from their assets


  • Banned from trading for the 90 days after the bill becomes law.


  • Penalties would include either a lawmaker’s monthly salary or 10% of the value of the asset in violation


  • Divestment of assets even if put in a blind trust


WHY IS THIS IMPORTANT


Ok, we got some of the details out of the way let's talk about what this feels like when you hear it. Hmmm, it kinda feels like a bad idea that politicians are trading and it could be with companies they have influence or relationships. Right?


Here is an example, in 2022 the New York Times posted the following.


97 Members of Congress Reported Trades in CompaniesInfluenced by Their Committees


At least 97 current members of Congress bought or sold stock, bonds, or other financial assets that intersected with their congressional work or reported similar transactions by their spouse or a dependent child, an analysis by The New York Times has found.


U.S. lawmakers are not banned from investing in any company, including those that could be affected by their decisions. But the trading patterns uncovered by the Times analysis underscore longstanding concerns about the potential for conflicts of interest or use of inside information by members of Congress, government ethics experts say. See the full article here


IDEAS


The goal of IWT is to share ideas NOT political viewpoints. If you find value in following your favorite politician check out the sites below. Some of the results seem beyond possible ( like winning the lottery and getting struck by lightning at the same time while kissing Taylor Swift) but you never know it could be possible.







DID YOU SEE THE PREVIOUS POST


Check out our previous post on The "Golden Boy" Jake Paul = Winning and tell us what you think. Leave a comment, joke, or even bad ideas. We don't mind.


As always do your due diligence. At ideaworthtrading.com we do not make recommendations. We share ideas that we think are of value but the ideas may also be trash. You decide and let us know. These public comments are for educational and entertainment purposes only. Until next time "Keep sharing great ideas" - IWT Ideasworthtrading.com

 
 
 
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