Steny Hoyer says he's 'not sure that it's necessary' to ban lawmakers from stock trading because ins

[Yo_Mama_Been_Loggin]

insider trading is already illegal

House Majority Leader Steny Hoyer said on Tuesday that Democrats would consider a stock trading ban for members of Congress, but said he was "not sure that it's necessary" because blatant insider trading is already illegal.

Hoyer's comments come after House Speaker Nancy Pelosi reversed her firm opposition to a ban, and other Democratic leaders signaled that they'd consider a flood of new proposals to ban stock trading by lawmakers. "If members want to do that, I'm okay with that," she said last week.

In an interview with Politico, Hoyer was asked about a letter from Rep. Jared Golden of Maine first reported by Insider that called for both Pelosi and Republican House leader Kevin McCarthy to "swiftly bring legislation" to ban stock trading to the floor. The bipartisan letter was signed by 27 lawmakers and included members from across the ideological spectrum, ranging from Democratic Rep. Rashida Tlaib of Michigan to Republican Rep. Matt Gaetz of Florida.

"This is an issue that I think is dealt with in present law," said Hoyer. He referred to the case of former Republican Rep. Chris Collins of New York, who resigned from Congress in 2018 and was sentenced to several months in jail for insider trading.

https://www.msn.com/en-us/news/politics/house-majority-leader-steny-hoyer-says-he-s-not-sure-that-it-s-necessary-to-ban-lawmakers-from-stock-trading-because-insider-trading-is-already-illegal/ar-AAT8DuA

[onecaliberal]

1. Nope. If the law was enforced, there wouldn't be many left.t.

people making 150,000 a year do not become millionaires after being in congress for one year for nothing.

[Srkdqltr]

2. Guess who has stock??

[Generic Brad]

3. Steny might want to rethink that stance

Voters have had it with the greed and anyone who doesn't support the Congressional stock trading ban does so at their own peril.

[In It to Win It]

4. If we think judges can't remain impartial when making decisions

when it involves a company they own stock in...

Why would we think legislators can be impartial when making! the fucking rules! FOR OUR ENTIRE SOCIETY??????

[Freethinker65]

5. Passing a bipartisan bill to stop legislators from active trading is fine by me

Let Hoyer vote against it. When it passes, expect to see lots of legislators that knew the current insider trading laws would never be enforced, suddenly put their/their family's money in passive or blind investments.