5 ms·

Pelosi also owns somewhere between $5M-$25M of Apple stock. You'd think some notion of recusal would exist in the legislative process... https://www.opensecre

by fny 5y ago

Pelosi also owns somewhere between $5M-$25M of Apple stock. You'd think some notion of recusal would exist in the legislative process... https://www.opensecrets.org/personal-finances/nancy-pelosi/assets?cid=N00007360&year=2018 https://www.opensecrets.org/personal-finances/nancy-pelosi/a...

alisonkisk 5y ago
"Warren re-ups bill to ban stock trading by lawmakers" https://www.politico.com/amp/news/2020/12/18/elizabeth-warren-stock-trading-ban-448390 https://www.politico.com/amp/news/2020/12/18/elizabeth-warre... Ultimately the voters of her district have to care.
- rkk3 5y ago
  Barring lawmakers from investing in equities seems like it would be another barrier for non-wealthy people to be politicians. EDIT: Why the downvotes? Middle class people use the stock market for their retirement funds. If you take away this ability or you take away the salary of lawmakers, you are restricting it to people who are already affluent.
  - lupire 5y ago
    As the article explains, the proposed ban is only on individual stock trades. As a US leader, investigating in broad US market indexes is sufficient for preserving your middle class wealth.
- d33lio 5y ago
  Initially mis-read this (thanks dyslexia) as "warren rips up bill to ban stock trading by lawmakers" haha (clearly I was thinking of Pelosi)
- parineum 5y ago
  >Ultimately the voters of her district have to care. Pelosi's district interest is against action against those companies. In this case, she's doing exactly as she's elected to do.
  - bagacrap 5y ago
    the voters have to care about stock trading by legislators
1-6 5y ago
Yup, came here to say the same. https://www.barrons.com/articles/nancy-pelosi-husband-bought-apple-tesla-disney-stock-options-51611496598 https://www.barrons.com/articles/nancy-pelosi-husband-bought...
kats 5y ago
I mean, she has 33 yoe in congress and only gets paid 225k salary, she better have stocks.
- exabrial 5y ago
  Yeah right. https://unusualwhales.com/ https://unusualwhales.com/
  - deleted 5y ago
    [deleted]
- unicornporn 5y ago
  Are you being sarcastic?
  - nomel 5y ago
    With that income, she's well within the top 10%, so following the trend here, there's a > 92.3% chance that she owns stock. > Of the top 10% of income earners, 92.3% own stock (vs 94.7% in 2016). > Of the 80-89.9% percentile of income, 86.3% own stock (vs 83.3% in 2016). > Of the 60-79.9% percentile of income, 71.0% own stock (vs 73.6% in 2016). > Of the 40-59.9% percentile of income, 55.8% own stock (vs 51.8% in 2016). > Of the 20-39.9% percentile of income, 34.2% own stock (vs 32.5% in 2016). > Of the bottom 19.9% percentile of income, just 14.5% own stock (vs 11.6% in 2016). [1] Sketchy source that uses dated federal source: https://wallethacks.com/stock-ownership-in-america/ https://wallethacks.com/stock-ownership-in-america/
- Barrin92 5y ago
  >only gets paid 225k salary That is six times the American median wage, or alternatively it places you in the top 3% of the American income distribution. Is this a bad attempt at sarcasm? That salary, plus I assume a generous pension is enough for her to not own any stocks, which I actually think is something that should be the norm for political representatives, given the blatant conflict of interest.
tfehring 5y ago
For reference, Wikipedia lists her net worth at ~$115 million (as of 2018, likely higher now). It looks like ~$20 million of that is real estate but if she just put the rest in the S&P 500 that would give her over $5 million worth of AAPL.

by fny 5y ago

alisonkisk 5y ago

"Warren re-ups bill to ban stock trading by lawmakers" https://www.politico.com/amp/news/2020/12/18/elizabeth-warren-stock-trading-ban-448390 https://www.politico.com/amp/news/2020/12/18/elizabeth-warre... Ultimately the voters of her district have to care.

rkk3 5y ago
Barring lawmakers from investing in equities seems like it would be another barrier for non-wealthy people to be politicians. EDIT: Why the downvotes? Middle class people use the stock market for their retirement funds. If you take away this ability or you take away the salary of lawmakers, you are restricting it to people who are already affluent.
- lupire 5y ago
  As the article explains, the proposed ban is only on individual stock trades. As a US leader, investigating in broad US market indexes is sufficient for preserving your middle class wealth.
d33lio 5y ago
Initially mis-read this (thanks dyslexia) as "warren rips up bill to ban stock trading by lawmakers" haha (clearly I was thinking of Pelosi)
parineum 5y ago
>Ultimately the voters of her district have to care. Pelosi's district interest is against action against those companies. In this case, she's doing exactly as she's elected to do.
- bagacrap 5y ago
  the voters have to care about stock trading by legislators

1-6 5y ago

Yup, came here to say the same. https://www.barrons.com/articles/nancy-pelosi-husband-bought-apple-tesla-disney-stock-options-51611496598 https://www.barrons.com/articles/nancy-pelosi-husband-bought...

kats 5y ago

I mean, she has 33 yoe in congress and only gets paid 225k salary, she better have stocks.

exabrial 5y ago
Yeah right. https://unusualwhales.com/ https://unusualwhales.com/
- deleted 5y ago
  [deleted]
unicornporn 5y ago
Are you being sarcastic?
- nomel 5y ago
  With that income, she's well within the top 10%, so following the trend here, there's a > 92.3% chance that she owns stock. > Of the top 10% of income earners, 92.3% own stock (vs 94.7% in 2016). > Of the 80-89.9% percentile of income, 86.3% own stock (vs 83.3% in 2016). > Of the 60-79.9% percentile of income, 71.0% own stock (vs 73.6% in 2016). > Of the 40-59.9% percentile of income, 55.8% own stock (vs 51.8% in 2016). > Of the 20-39.9% percentile of income, 34.2% own stock (vs 32.5% in 2016). > Of the bottom 19.9% percentile of income, just 14.5% own stock (vs 11.6% in 2016). [1] Sketchy source that uses dated federal source: https://wallethacks.com/stock-ownership-in-america/ https://wallethacks.com/stock-ownership-in-america/
Barrin92 5y ago
>only gets paid 225k salary That is six times the American median wage, or alternatively it places you in the top 3% of the American income distribution. Is this a bad attempt at sarcasm? That salary, plus I assume a generous pension is enough for her to not own any stocks, which I actually think is something that should be the norm for political representatives, given the blatant conflict of interest.

tfehring 5y ago

For reference, Wikipedia lists her net worth at ~$115 million (as of 2018, likely higher now). It looks like ~$20 million of that is real estate but if she just put the rest in the S&P 500 that would give her over $5 million worth of AAPL.