(Liberty Bell) – It’s been revealed this week that a total of 49 members of Congress have failed to properly report their stock purchases, as per a law that was passed way back in 2012 to help prevent insider trading known as the STOCK Act, according to a report from 100 Percent Fed Up.
“Insider and several other news organizations have this year identified 49 members of Congress who’ve failed to properly report their financial trades as mandated by the Stop Trading on Congressional Knowledge Act of 2012, also known as the STOCK Act,” the report said.
Congress passed the STOCK Act in 2012 to help fight against both insider trading and conflicts of interest among its own members and to force lawmakers to be more transparent concerning their personal financial dealings. You know, to try and reduce the amount of corruption happening within the government.
After all, how many politicians, especially liberal ones, have become extremely wealthy during their time as “public servants,” which is sleazy just to say?
“A key provision of the law mandates that lawmakers publicly — and quickly — disclose any stock trade made by themselves, a spouse, or a dependent child,” the report continued, adding, “But many members of Congress have not fully complied with the law. They offer excuses including ignorance of the law, clerical errors, and mistakes by an accountant.”
“Faced with this troubling news, House Speaker Nancy Pelosi (D-Ca.) defended her House colleagues, saying they have the right to participate in our free market economy. The Epoch Times stated in a recent report.
“In light of this report, Pelosi was asked by a reporter whether Congress members should be barred from stock trades,” the report added.
“No,” Pelosi fired off in response. “We have a responsibility to report [our trades] … [and] if people aren’t reporting, they should be.”
The House Speaker was then pressed to provide further explanation for her “no,” which she then replied to by saying, “Because we’re a free market economy. [Members of Congress] should be able to participate in that.”
Pelosi’s name wasn’t on the report, but both Pelosi and her husband have made millions of dollars from doing stock trades, some of which were actually considered suspect by various ethics observers.
“Represent.us, a Congressional ethics watchdog, reported that Pelosi received IPO stock access from Visa shortly before she prevented a bill regulating credit card companies from being considered on the House floor,” 100 Percent Fed Up reported.
REPORTER: "Should members of congress and their spouses be banned from trading individual stocks while serving in congress?"
PELOSI: "No…We are a free market economy. They should be able to participate in that." pic.twitter.com/2SNqSCwFEU
— Townhall.com (@townhallcom) December 15, 2021
Apparently, according to Pelosi, participating in a free market economy means the legalization of insider trading for lawmakers.
According to The Gateway Pundit, the FBI seized Sen. Richard Burr’s phone in connection with an investigation into his stock trades.
“Burr dumped as much as $1.72 million in hotel stocks before the Coronavirus panic hit the US while reassuring the public about Coronavirus preparedness,” the GP report stated. “This was also at the same time Burr was receiving daily briefings on the Coronavirus health threat.”
It was then revealed that Burr’s brother-in-law actually called up his broker and dumped stock just one minute after getting off the phone with the senator from North Carolina, according to a report published by ProPublica.
Another well known Democrat, Sen. Dianne Feinstein, was also connected to some suspicious stocks after the COVID meeting.
“Feinstein’s husband, Richard Blum sold his shares in Allogene Therapeutics Inc, a biotech company, and made between $1.5 million and $6 million before the Coronavirus stock market spiral,” the report stated.
According to Feinstein’s spokesperson, she handed over documents, voluntarily, to the FBI and answered all of the questions about her husband’s stock transactions. She then claimed she had nothing to do with her husband’s stock trades.
Copyright 2021. LibertyBell.com