Live data from Hacker News

Pelosi buckles, pushes stock-trading ban

axios.com

1–10 of 38 posts

Re: Pelosi buckles, pushes stock-trading ban

#5
post #3

Wonder what loop hole they'll leave. Prob doesn't matter to her, she's already got her millions.

There is a point in the article her husband is a heavy trader. When I read that, my first thought was unless they ban spouses from trading as well, it seems like that's what will happen since the majority are married.

Re: Pelosi buckles, pushes stock-trading ban

#7

The only reason she would back this is if: a) there are giant loopholes b) it doesn't ban her husband from buying individual stocks c) she knows there is no way this passes

It appears she doesn't back/support it. From another article:

"I just don't buy into it, but if members want to do that I'm OK with that," Pelosi told reporters at her weekly press conference.

Re: Pelosi buckles, pushes stock-trading ban

#8
I'm sure we all get the sense that there's probably going to be a big fat loophole somewhere.

I think what might have been wiser is better transparency from politicians and their families.

Either having a real-time trading dashboard that announces all of their trades in real-time, or set a requirement for them to pre-announce trades at least 1 day before. "If Apple's price is below $X tomorrow, then I intend to buy X calls" and make it so that these pre-announced trades are the only action they're allowed to do.

But nothing really tackles the root of the dirty corruption problem so long as the government is involved in essentially picking the winners and losers in the marketplace. That's the real root of the issue that neither side even pretends to address.

Re: Pelosi buckles, pushes stock-trading ban

#9

The only reason she would back this is if: a) there are giant loopholes b) it doesn't ban her husband from buying individual stocks c) she knows there is no way this passes

Recent news articles are stating: "Nancy Pelosi's challenger in California thinks putting the House speaker on blast for supporting congressional stock trading might finally pay dividends for him in his third attempt at unseating the long-term lawmaker."[0]

She is possibly flipping on her decision now to keep her seat. If her husband Paul Pelosi[1] (an investment manager) can continue to trade, this ban will do nothing to her.

[0]: https://www.businessinsider.com/nancy-pelosi-challenger-shah...

[1]: https://en.wikipedia.org/wiki/Paul_Pelosi

Re: Pelosi buckles, pushes stock-trading ban

#10

The only reason she would back this is if: a) there are giant loopholes b) it doesn't ban her husband from buying individual stocks c) she knows there is no way this passes

We know from the bill text that it does ban spouses from trading individual stocks. You forgot a fourth reason, which is probably the actual reason, that not supporting it could make her lose her position as speaker and prevent her from holding leadership positions in her party.
Post reply on HN