

Nancy Pelosi is gonna love this one!
A Republican representative from Wisconsin is striving to stop insider trading, and of course he has received no support from Dems. I am 0% shocked by this news.
Without support from a single House Democrat, Republican Wisconsin Representative Bryan Steil’s “Stop Insider Trading Act” passed the House Administration Committee and will move on to the House floor for consideration.
If enacted, the bill would restrict members of Congress from buying individual securities and would require notice seven to 14 days before a sale. Lawmakers would be able to continue to buy index and mutual funds, as well as continue investing dividends in previously purchased securities.
Democrats continue to argue that the bill is not strong enough, with many stating that trading should be banned entirely and that lawmakers should be required to fully divest before taking office.
I hate to admit this, but initially I agreed with the Democrats. At face value, making every politician fully divest sounds great—until you consider who it would take out of the pool of candidates for any public office.
Chris Josephs, the co-founder of Autopilot, an app that allows average Americans to trade the same stocks Rep. Nancy Pelosi (D-CA) trades, previously voiced the same concerns to The Daily Wire about legislation requiring full divestment.
“I think it would demotivate a major class of successful people from running,” Josephs said. “Businesspeople are successful. They know how to run things. They know how to lead. They know how to hire. They know how to create strategies. They know how to execute on those strategies. We should not just say no to those potential candidates just because they own businesses and they’re not gonna sell.”
Josephs told The Daily Wire he suspected that the 2024 election would have looked drastically different with full divestments in place.
“The 2024 election, you got Trump and Vance. Vance is an ex-venture capitalist, ex-business guy. He owns a lot of individual stocks that are private. And then you’ve got Trump, who owns a lot of stuff. On the other side of the ticket, though, you’ve got Kamala, who’s a career-long politician. You’ve got Tim Walz, who proudly doesn’t even own a house. And if that bill were to be passed, just based on how that would work, Trump and Vance wouldn’t be allowed to run unless they sold their stuff, which I doubt they would have.”
Yeah, so I don’t like that either.
Like most things in life, I think this is going to require coming to a middle ground. I don’t want to punish someone for being successful, but they also shouldn’t be motivated to serve with the idea of getting rich(er). Similarly, I don’t want financial idiots or career politicians with zero life experience being our only options on the ticket.
We will see if this act offers a balanced solution. I am cynical, but it is a start.
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