Former Democrat Representative Tulsi Gabbard blasted a “rigged” system during a conversation about controversial stock purchases made by the husband of House Speaker Nancy Pelosi.
Appearing with Fox News host Jesse Watters, who had just rehashed the controversy regarding the Pelosis, Gabbard described the situation as “blatant corruption.”
A financial disclosure shows Paul Pelosi made a million-dollar stock purchase in semiconductor company NVIDIA, buying 20,000 shares ahead of a congressional vote to provide a $52 billion subsidy increasing U.S. manufacturing of computer chips.
“What we’re seeing here is the same thing that I saw when I was in Congress — is this blatant corruption being exposed in broad daylight — the system is rigged,” Gabbard said.
Gabbard Says System Rigged Following Pelosi Stock Controversy
Gabbard explained why she feels purchasing stocks for lawmakers and their families is an example that the “system is rigged.”
“We have people in positions of power to pass legislation, to enact new policies,” she elucidated.
“They can see, ‘OK, here are the industries or companies that will benefit from this. I’m going to go and make these investments, buy this stock or that stock, or have my husband or wife do it and then make money in the process.'”
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Pelosi has denied any wrongdoing, flatly denying that her husband made the stock purchase based on information he received from her.
“No,” the Speaker replied. “Absolutely not.”
She then promptly ended the discussion with reporters after the question was asked.
NEW – Pelosi says “no, absolutely not” and leaves when asked if her husband ever made stock trades based on information received from her.pic.twitter.com/ay04qa0zl5
— Disclose.tv (@disclosetv) July 21, 2022
Pelosi Defends the Practice Gabbard Calls ‘Blatant Corruption’
Nancy Pelosi has previously given a full-throated defense of lawmakers trading stocks, despite the obvious conflicts in lobbying and insider knowledge.
When asked whether or not members of Congress and their spouses should be barred from holding or trading individual stocks while in office, she replied, “We’re a free-market economy. They should be able to participate in that.”
REPORTER: “Should members of congress and their spouses be banned from trading individual stocks while serving in congress?”
PELOSI: “No…We are a free market economy. They should be able to participate in that.” pic.twitter.com/2SNqSCwFEU
— Townhall.com (@townhallcom) December 15, 2021
Walter Shaub, who served as director of the Office of Government Ethics under Barack Obama, slammed those comments as “disgusting.”
“What a disgusting comment,” he admonished. “This is the opposite of government ethics.”
‘Conflicted Congress’: Key findings from Insider’s five-month investigation into federal lawmakers’ personal finances https://t.co/mHUELPmsAg
— Insider (@thisisinsider) December 13, 2021
The Political Insider reported in December that dozens of lawmakers have violated conflict-of-interest laws while numerous others have personally invested in industries under their purview.
An in-depth analysis by Business Insider focused on violations of the Stop Trading on Congressional Knowledge (STOCK) Act, as well as whether or not members of Congress or their spouses buy and sell individual stocks in companies.
House Speaker Pelosi is herself listed in the report as ‘borderline’ meaning her personal finances “deserve greater scrutiny.”
.@laurenboebert: “Here we have Paul Pelosi getting out of jail just in time to buy 20k shares of this stock right before his wife, Nancy, brings a $52 Billion subsidy bill to the House floor… Nancy should be held accountable.”
— Newsmax (@newsmax) July 18, 2022
Representative Alexandria Ocasio-Cortez (D-NY) seemingly shares the contention that Gabbard makes of the ability of lawmakers to purchase stocks as evidence of corruption.
The practice being allowed is “absolutely ludicrous,” AOC has said. “It shouldn’t be legal for us to trade individual stock with the info we have.”
Perhaps she’ll sit down and have a heart-to-heart with the Speaker.
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