Insider Trading by Congress

It’s the heat of the Summer in Washington DC, but hell is freezing over anyway. Why? Because veteran stock market wizard Rep. Nancy Pelosi (D-CA), has come out in support of a bill that will ban members of Congress from trading in stocks or options. For late arrivals, former House Speaker Pelosi has for more than a decade been the poster child for members of Congress who became rich by trading on inside information to predict the movement of the stock market. Pelosi has long tried to deflect criticism by saying that her husband makes all the stock moves, but the numbers don’t lie: While the S&P index is up by 240 percent over the last 10 years, Pelosi and her husband are up an eye-popping 745 percent.