Breaking: House Democrats Turn On Nancy Pelosi – Will Introduce Legislation To Forbid Lawmakers/Spouses From Participating In Stock Trading After…

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House Speaker Nancy Pelosi has had to deal with a lot lately. Not just from Republicans, either. In fact, we recently reported that, with the midterms very near, over thirty Democrats have decided that they will be retiring this year.

To put a little bit of texture on that, fifty-five members of Congress will not be running for re-election in 2022. That 55 breaks down to 6 U.S. Senator spots and 49 House lawmaker spots. Of those 49, 32 of them are, indeed, Democrats.

Now, that infighting seems to be continuing. The Democrats are currently planning to introduce stock trade legislation next month. The proposed legislation would prevent stock trades by members of Congress and their spouses which Pelosi has long opposed.

Just last week, a reported asked Pelosi, “Has your husband ever made a stock purchase or sale based on information he’s received from you?”. Pelosi snapped back, “No. Absolutely not,”and proceeded to walk off.

Well, the Nancy Pelosi Stock Tracker Twitter account reported:

“Speaker Pelosi just sold 25,000 shares of $NVDA for an average price of $165.05 on 7/26/22. This is the first time Pelosi has ever reported a trade the same day say she made it.”

On the filing, she commented: “for a total loss of $341,365.” 

“Timeline: 5/21/21 – Purchased 200 LEAPS with an exp date of June 2022. 7/23/21 – Purchased 5,000 shares at $195.58. 7/23/21 – Purchased 50 LEAPS with an exp. date of Sept. 2022. 6/17/22 – Purchased 20,000 shares at $100 (exercised 200 calls). 7/26/22 – Sold 25,000 shares at $165.”

“Still owns: 50 LEAPS at a Strike Price of $100 and an exp. date of 9/16/22. At the time of the purchase, $NVDA was $195.98. These LEAPS were bought back on 7/23/21.”

Senator Josh Hawley (R-MO) said earlier: “Ban stock trading by members of Congress & their spouses. Call it the Pelosi Act.”

Punchbowl went on to report that House Democrats plan to announce a proposal next month to ban lawmakers, their spouses and senior staff from trading stocks, according to multiple sources close to the issue.

Punchbowl News: House Democrats plan to announce a proposal next month to ban lawmakers, their spouses and senior staff from trading stocks, according to multiple sources close to the issue.

— Kyle Griffin (@kylegriffin1) July 28, 2022

The framework, which the House Democratic leadership will release in early August, would force members of Congress, their spouses and senior staff to choose between putting their assets in a qualified blind trust or completely divesting their investment portfolios.

The proposed legislation would allow members, spouses and senior staff to hold mutual funds.

The leadership’s goal is to introduce legislation in the beginning of September and push it through the chamber that month.

“We’re almost ready to move forward on this,” House Administration Committee Chair Zoe Lofgren (D-Calif.) told us Wednesday.

Of course, the Republicans want to get their shots in as well. Last week, we reported that Rep. Marjorie Taylor Greene (R-GA) called out Nancy Pelosi (D-CA) on Friday. She highlighted the fact that Pelosi refused to secure the Capitol on Jan. 6, 2021. At that time, Greene tweeted “Nancy Pelosi refused President Trump’s multiple requests to have the National Guard at the Capitol,” Greene tweeted. “She should be in jail.”