Speaker Pelosi is adamant about member of Congress being allowed to trade stocks, putting her at odds with progressive members of her own party once again
Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images On Wednesday, as President Biden’s agenda faltered again in the Senate, Speaker of the House Nancy Pelosi came out swinging. Not against Joe Manchin or the business interests he mollifies, but against a ban on members of Congress being able to trade stocks. “This is a free market, and people — we are a free-market economy.
Evidence suggests that Ocasio-Cortez has a valid point. Drew Hammill, a spokesperson for Pelosi, said the speaker does not own any stocks herself — but her husband does, and his portfolio adds greatly to her familial wealth. His trades have attracted public attention in the past: Investors on TikTok follow his moves closely, looking for signs because he is the spouse of the Speaker.
Pelosi should know that too. Wednesday’s attitude is a particularly bad look for her. She is an exceptionally wealthy person in addition to being Speaker of the House. There’s no reason a wealthy person can’t serve the public interest; Pelosi belongs to the party of Franklin Delano Roosevelt, famously a “traitor to his class.” Her position, however, is poorly suited to the legacy of FDR.
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