Nancy Pelosi found herself backed into a corner.
Predictably, Pelosi lashed out.
Nancy Pelosi hit Clarence Thomas with one threat that will leave you speechless.
Nancy Pelosi is the sixth richest member of Congress with an estimated net worth of $118 million.
Pelosi does not own any stock, but her husband Paul regularly trades stock involving companies such as Google that Pelosi regulates.
Stories about senators trading on alleged insider information about the pandemic in February 2020 led to a big push with support from members of both parties to ban members of Congress from trading stock.
Pelosi initially opposed this idea.
“We are a free market economy. They should be able to participate in that,” Pelosi said in explaining her opposition to banning members of Congress from trading stocks.
But last month Pelosi appeared to relent and called for harsher penalties than currently in the books with the STOCK Act that prevents members of Congress from trading on insider information and requires family members to report stock trades within 45 days.
“They are remarkable,” Pelosi declared. “So when people talk about well, somebody might do this, and somebody, I trust them. If in fact we should have severer penalties for delays in reporting on the STOCK Act, then do that.”
Pelosi appeared to give ground on a bill she opposes only to really be retrenching for more favorable political ground.
Speaker Pelosi knows there is more than one way to kill a bill.
This bill could affect the checking account of the Pelosi family, but the bill is widely popular.
Instead of taking the bill head on and forcing Democrats to directly oppose the bill, Pelosi reached into the playbook and dropped a poison pill provision to make the bill unpalatable.
“It has to be government-wide,” Pelosi exclaimed.
According to Nancy Pelosi, any stock ban legislation must apply to Supreme Court justices like Clarence Thomas.
“The third branch of government, the judiciary, has no reporting,” Pelosi stated. “The Supreme Court has no disclosure. It has no reporting of stock transactions. And it makes important decisions every day.”
But Pelosi dropped another hint that this newfound demand that any stock trade ban apply to the Supreme Court was intended to make the legislation more complicated and thus derail its passage.
“It’s complicated and members will figure it out, and then we’ll go forward with what the consensus is,” Pelosi told reporters before adding that “they’ll have it pretty soon.”
Stopping lawmakers from trading stocks would go a long way toward draining the swamp.
So naturally, Nancy Pelosi is looking for a backdoor method of killing the bill so no one sees her fingerprints all over the sabotage.
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