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by parineum 1650 days ago
> "The speaker does not own any stocks," said Hammill. "As you can see from the required disclosures, with which the speaker fully cooperates, these transactions are marked 'SP' for spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions."

lol
2 comments
nescioquid 1650 days ago
Indeed. With a so-called "chinese wall" that only happens to work in one direction (husband has access to info from his wife, but he is careful not to tell her about his/their trading), this might not be a fib, but would certainly be a shining example of equivocation and corruption.
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nescioquid 1650 days ago
I apologize for responding to myself, but I want to point out that I don't know the specific laws that may govern whatever account under which Pelosi's husband is executing trades. As I understand it, all property between spouses (in Minnesota, at least) is considered implicitly as "joint tenants in common" between spouses, but this may not be the case in California.

If all property in California is considered joint tenants in common between spouses, then this gives the lie (not mere equivocation) to the statement that "...the speaker does not own any stocks".

Can anyone shed light on this matter?

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justinsaccount 1650 days ago
So? Are you implying then that not only does there need to be a ban, it also needs to apply to immediate family members? Where does it stop? in-laws? cousins? Neighbors? How is that supposed to be enforced?
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Dayshine 1650 days ago
I was under the impression that staff at banks that do trading already have a very stable and accepted system for this. And are very good at enforcing it.
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belter 1650 days ago
Its not unclear. Sometimes difficult to enforce but borders are easy to define:

"In 1984, the Supreme Court of the United States ruled in the case of Dirks v. Securities and Exchange Commission[25] that tippees (receivers of second-hand information) are liable if they had reason to believe that the tipper had breached a fiduciary duty in disclosing confidential information. "

"Insider trading" https://en.wikipedia.org/wiki/Insider_trading

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