The Damage Report
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Nancy Pelosi Gets Cornered, Falters Over Excuses On Stage
Posted
January 2, 2023
Views
16,426
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945
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January 2, 2023
16,426
945
159
6.72%
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7:18Now PlayingNancy Pelosi gets confronted about the wait time on the law designed to catch and stop insider trading and drops the worst excuse. John Iadarola and Brett Erlich break it down on The Damage Report.
Read more here:
77 members of Congress have violated a law designed to prevent insider trading and stop conflictsofinterest
"Insider and several other news organizations have identified 77 members of Congress who've recently failed to properly report their financial trades as mandated by the Stop Trading on Congressional Knowledge Act of 2012, also known as the STOCK Act.
Congress passed the law a decade ago to combat insider trading and conflicts of interest among their own members and force lawmakers to be more transparent about their personal financial dealings. A key provision of the law mandates that lawmakers publicly — and quickly — disclose any stock trade made by themselves, a spouse, or a dependent child.
But many members of Congress have not fully complied with the law. They offer excuses including ignorance of the law, clerical errors, and mistakes by an accountant. Insider has chronicled this widespread nature of this phenomenon in "Conflicted Congress," an ongoing reporting project initially published in December."
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