Pelosi Supports Ban On Stock Trading For Lawmakers And Judges, Reversing Previous Comments
After her vocal opposition to a ban on stock trading for lawmakers, House Speaker Nancy Pelosi, D-Calif., said on Wednesday that she would be open to a ban if it also included federal judges.
The issue has received bipartisan support, so Pelosi’s comments last year about banning stock trading among Congress members were notable. She revised her stance during her weekly press conference.
“If that is what the members want to do, that is what we will do,” Pelosi said. “It’s complicated and members will figure it out, and then we’ll go forward with what the consensus is.”
Pelosi also said that Congress must “tighten the fines on those who violate the Stock Act,” saying the current conditions of the act do not deter enough members from violating the terms. She also mentioned that there could be legislation put forward “very soon.”
Pelosi stipulated that there needs to be reform across all branches of government. She said members of Congress must disclose their stock trading activities while judges do not have to.
“It has to be government-wide,” she said on Wednesday. “The judiciary has no reporting. The Supreme Court has no disclosure. It has no reporting of stock transactions and it makes important decisions every day.”
Pelosi revised her stance as she faced pushback from her previous comments.
“We’re a free-market economy. [Members of Congress] should be able to participate in that,” Pelosi said late last year.
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