Former House Speaker Nancy Pelosi opposes putting an end to members of Congress being able to own and trade individual stocks while serving in Congress, and many politicians might have millions of reasons to agree with her.
However, Rep. Ro Khanna says he supports a ban on members of Congress owning and trading stocks, and recently this story meant that the California Democrat had some explaining to do:
Ro Khanna, a US Representative, just disclosed two trades worth $10,000,000.
— unusual_whales (@unusual_whales) August 9, 2023
However, it wasn't his trade.
He said the trades were for his two children for a private hedge fund called ELT ASSOCIATES LLC.
His children are under 14.
But Rep. Khanna can explain!
It wasn't him, but other members of his family, and Khanna was completely uninvolved (gee, that sure sounds familiar for some reason):
Representative Khanna:
— unusual_whales (@unusual_whales) August 9, 2023
"these are diversified trusts for grandchildren set up by my wife’s parents before I was married. The value is much less due to range. I have nothing to do with it, own no stocks & support a complete ban on members trading stocks"https://t.co/iZcT1t1j6d pic.twitter.com/K6kjh8qfaz
This is a diversified trust set up by my wife’s parents for their many grandchildren. I have nothing to do with it, own no stocks, & support a complete ban on members trading stocks. This also is not the transaction amount, but reported in a very large range.
— Ro Khanna (@RoKhanna) August 9, 2023
Satisfied, America?
Clearly, a special prosecutor is needed to untangle the myriad criminal behavior here.
— JWF (@JammieWF) August 10, 2023
Recommended
It's the only way to be sure!
Yea, that's it....A Trust set up for my family. Sounds like Biden.
— They keep indicting me (@Brandonstheguy) August 9, 2023
Ah the classic “in my wife’s trading account” https://t.co/qS4EU8btTg
— f5 enter (@ctrlopenbracket) August 9, 2023
Just like when John Kerry said "I didn't own a private plane because it belonged to my wife."
Note: This is how congressthings will get around a “ban on trading.”
— Rob Smithson (@RobSmithson6) August 9, 2023
Any ban must include family and close friends and associates. https://t.co/LVdywI5SAX
Man of the people https://t.co/dm6wF7LsWh
— CTIronman (@CTIronman) August 10, 2023
The party that opposes greed (and capitalism itself in many cases) sure likes to participate in it.
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