Nancy Pelosi // Current TV

Nancy Pelosi Slams Colbert Super PAC (VIDEO)

Colbert is a genius! His Super PAC is social commentary as performance art. ----- So... more

StewSteve
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Gingrich v. Romney- It’s On!: PCW Extreme Political TV « Political Championship Wrestling

PCW Extreme Political TV North Charleston Arena North Charleston, SC Monday January... more

PCWPolWrestling
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Nancy Pelosi Steps Up: Romney's 'Not Going to be President'

By SEUNG MIN KIM | 1/17/12 10:51 AM EST The House’s top Democrat repeatedly... more

KB723
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Median net worth of Congress members up 15 percent

"Hard to Believe I saw this on TV tonight!!!" Kinda made me wonder what you... more

KB723
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101 comments

Daniel-San (I) Retains, Merchants of Death (R) Regain Women’s Tag Team Title: PCW Jesusland vs. Progressiveville Report « Political Championship Wrestling

Before a capacity crowd at Evansville‘s Roberts Arena, Daniel-San (I), backed by... more

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STOCK Act Would Stop Controversial Insider Congressional Trading

http://pogoblog.typepad.com/pogo/2011/11/stock-act-would-stop-controversial-insider-congressional-trading.html

CBS News' "60 Minutes" aired a fairly condemning report on Sunday, alleging that several Members of Congress--including Reps. Spencer Bachus (R-AL) and Nancy Pelosi (D-CA)--have earned hefty stock returns thanks to inside information obtained on the job.

The report pointed out that this kind of insider trading is legal—a claim which may not even be true, according to an Indiana University law professor. Regardless, it’s making a lot of taxpayers very angry. The good news is there’s a piece of legislation already moving through the House that could stop this squeamish practice dead in its tracks: the cleverly named, Stop Trading on Congressional Knowledge (STOCK) Act (H.R. 1148).

CBS revealed why this Act couldn’t be more timely. According to the report, the day after House Rep. Bachus (R-AL), who is chairman of the House Financial Services Committee, received a closed-door briefing from the U.S. Treasury Secretary and Federal Reserve Chairman that warned of a global financial catastrophe, Bachus reportedly bought option funds that would go up in value if the market crashed—ignoring his own advice to the American people.

Bachus, as you may remember, also recently proposed draft legislation that would essentially allow the financial industry to regulate itself and raises a host of conflict of interest issues. So far, he’s denied using non-public information to inform his personal investment decisions.

House Minority Leader Nancy Pelosi has also fired back against the CBS report. She issued a statement in response to accusations that her purchase of profitable Visa shares in 2008—which occurred when legislation opposed by credit card companies began to move through the House— constituted a conflict of interest:

Congress has never done more for consumers nor has the Congress passed more critical reforms of the credit card industry than under the Speakership of Nancy Pelosi…It is very troubling that 60 Minutes would base their reporting off of an already-discredited conservative author who has made a career of out attacking Democrats.

Putting politician/journo squabbling aside for a moment—here’s a rundown of the STOCK Act, which was introduced by Rep. Louise Slaughter (D-NY) and Rep. Tim Walz (D-MN) in March. The Act would:

Prohibit purchase or sale of either securities, security-based swaps, or commodities for future delivery or swap by a person in possession of material nonpublic information regarding pending or prospective legislative action if the information was obtained: (1) knowingly from a Member or employee of Congress, (2) by reason of being a Member or employee of Congress, and (3) other federal employees.

In other words, as the Bureau of National Affairs pointed out: “The bill would level the playing field between corporate and congressional insiders.”

The CBS story may be making a lot of waves, but this isn’t a new problem. For years, researchers have shown that Members of Congress get abnormally high returns from their stocks. Incarnations of the STOCK Act have been introduced three times in the past, but no one has voted on it (POGO supported the Act in the last Congress). The time has come to stop shaking our fists at the politicians making extra bucks off of a legally grey loophole—and throw support into the solution. At present, the STOCK Act is hanging out in the House Judiciary Subcommittee on the Constitution.http://pogoblog.typepad.com/pogo/2011/11/stock-act-would-stop-controversial-insider-con... more

dliebelson
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3 months ago
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Congress:Trading stock on inside information?

"I was watching this tonight and found this video worth sharing!!! Seems, that... more

KB723
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3 months ago
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Nancy Grace Enchanting Waltz On Dancing With The Stars (VIDEO)

Nancy Grace and her partner Tristan MacManus danced the Waltz to the sound of... more

c7girl
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4 months ago
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Collection agency goes after House Speaker John Boehner

China wants its money back, and it wants it now. Not surprisingly, the target of the... more

mbalton
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4 months ago
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Collection agency goes after House Speaker John Boehner

China wants its money back, and it wants it now. Not surprisingly, the target of the... more

mbalton
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4 months ago
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Who is More Extreme? Coulter or Olbermann?: PCW Lock and Load- Part 3 « Political Championship Wrestling

DEMOCRATS LOCKER ROOM Former 3-time PCW Champion Yamamoto Tanaka (D) gathers his... more

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PCW Lock and Load 6 Preview « Political Championship Wrestling

Replay: Thursday night’s PCW Politics is War PCW Champion Yamamoto Tanaka and... more

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5 months ago
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Alec Baldwin and Michelle Malkin Catfight: 9/22-PCW Politics is War on P-SPAN « Political Championship Wrestling

PCW Politics is War on P-SPAN (2 hrs) UCF Arena Orlando, Florida Thursday September... more

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Hillary Clinton Welcomes Women’s Champ to Democrats: 8/22-PCW Extreme Political TV « Political Championship Wrestling

Hillary Clinton Welcomes Women’s Champ to Democrats: 8/22-PCW Extreme Political... more

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6 months ago
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Nancy Pelosi reported net worth triples in last two years

Minority Leader Nancy Pelosi (D-Calif.) reported a minimum net worth for 2010 that was... more

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6 months ago
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Christine O’Donnell Appears on Bill Clinton’s Hot Tub: 8/18- PCW Politics Is War on P-SPAN « Political Championship Wrestling

PCW Politics is War on P-SPAN (2 hrs) NMU Vandament Arena Marquette, MI Thursday... more

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6 months ago
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Congressional tour bus veers to the right and then to the left before crashing

Puddinpop, Virginia -- Congressional leaders have embarked on a cross country bus tour... more

mbalton
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6 months ago
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Bradford Wells And Anthony John Makk, San Francisco Gay Married Couple, Split By Deportation (UPDATED)

This is very sad that this couple can not remain living in America.

Leen61
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6 months ago
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Wisconsin Recall Review: 8/11-PCW Politics Is War on P-SPAN « Political Championship Wrestling

PCW Politics is War on P-SPAN (2 hrs) Wells Fargo Arena Des Moines, IA Thursday... more

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6 months ago
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Washington: Protecting Safety Net on Catfood Commission II

WWH – Don’t piss down our necks and tell us it’s raining. The... more

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6 months ago
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