The Pelosis, like most Americans, had a rough fourth quarter of trading.
If this is indeed the last quarter Congressional members will be allowed to trade and hold stocks then Rep. Nancy Pelosi (R-CA) is leaving the stock market on a sour note.
Nancy and husband Paul Pelosi reported a stock value decline of $2.5 million in their year-end financial disclosure form. The losses were led by four big holdings that had rough fourth quarters.
PayPal (PYPL) – Get Free Report, Salesforce (CRM) – Get Free Report, Tesla (TSLA) – Get Free Report, and Roblox (RBLX) – Get Free Report led losses for the couple as tech stocks had a rough end of the year in the market.
Pelosi has served in Congress for more than 35 years and made history when she was elected the first woman to serve as the Speaker of the House in 2007.
But her $223,000 yearly salary seems incongruous to her family’s estimated net worth, which according to some estimates is above $200 million.
The Pelosis may not have to worry about market losses going forward if calls for legislation banning the ownership of stocks by sitting members of Congress and their spouses gains traction.
Hawley Introduces ‘Pelosi’ Bill
Both Republicans and Democrats, in the Senate and the House have expressed the political will to change the rules so that sitting federal members of Congress and their spouses can’t use the information they’re privy to to get rich in the stock market.
With all of the public pronouncements for support from Congress, one would think that this would be an easy bill to pass. But alas, such a bill has yet to even see a floor vote.
This week, Sen Josh Hawley (R-MO) introduced legislation what would ban stock trading and ownership by members of Congress.
Pelosi and her husband, venture capitalist Paul Pelosi, are some of the most active stock market traders in Congress, according to some estimates, so it has taken her some time to come around to this way of thinking.
“We’re a free market economy,” Pelosi said when asked about spouses of congressional members being allowed to trade.
That video was from December 2021, however Pelosi has changed her tune since then and publicly backed legislation last year that would restrict her and her husbands ability to trade on information they glean from her political office.