Majority of Americans Say Lawmakers Like Pelosi Should Be Banned from Trading Stocks
76% of likely voters slam congress members making money of trading
An overwhelming majority of Americans believe members of Congress, like Nancy Pelosi, should be banned from making money by trading stocks while in office, a new poll revealed.
76% of likely voters say lawmakers should not be allowed to trade stocks, the Trafalgar Group/Convention of States Action poll reveals.
Just 5% of respondents said they believed it is ok for lawmakers to trade stocks, while 19% have no opinion.
The results come a month after Pelosi addressed questions on the ethics of members of Congress trading stocks.
Pelosi's remarks were prompted by a report cataloging lawmakers’ trading activity.
The House Speaker has massively profited from trading stocks during her time in Congress, and she defended the practice.
“This is a free market and people,” Pelosi said.
“We are a free-market economy, and we should be able to participate in that.”
Democratic Georgia Sen. Jon Ossoff slammed the practice and reportedly is planning to introduce a bill banning members of Congress from trading individual stocks.
“In an era of hyper-partisanship, voters in all parties agree that members of Congress should not be enriching themselves using ‘insider information’ while serving the people,” Mark Meckler, president of Convention of States Action, said in a statement to The Hill.
“This issue has received a lot of attention, and this data verifies the American people want this practice to end once and for all.”
Neon Nettle reported Pelosi bought millions of dollars worth of call options for stocks in various companies.
Pelosi's latest personal stock buys were revealed in disclosures signed last year.
From December 17 to Dec. 22, Pelosi purchased between $1.75 and $3.6 million worth of call options for companies including Google, Salesforce, Roblox, and Disney.
Her most significant purchases were between $600,000 and $1.25 million for Salesforce and between $500,000 and $1 million for Google.
In 2019, Neon Nettle reported Pelosi earned a fortune buying IPO stocks using "illegal" insider trading techniques.
Pelosi reportedly used the information she had exclusive access to as Speaker of the House to make trades on stocks, allegedly netting her $100,000 in 48 hours on a single trade.
According to the House Press Gallery, House speakers earn an annual salary of $223,500, making Pelosi the third-highest-paid elected official in the U.S. federal government (after the president and vice president).