House Minority Leader Nancy Pelosi on Monday shot back at a CBS report examining whether members of Congress are using insider information to gain an advantage in the stock market.
A report on CBS’ “60 minutes” on Sunday said Pelosi was among several lawmakers — including Republicans such as House Speaker John Boehner — who had profited from transactions that raised the possibility of conflicts 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,” Pelosi spokesman Drew Hammill said.
“Tonight’s report failed to note that the legislation in question in this story was reported out of the Judiciary Committee on October 3, 2008 — the day the House was consumed in passing TARP and also the last day the House was in session before the November election. It failed to note than in September 2008, the House passed the Credit Cardholders’ Bill of Rights. In the next Congress, the House and Senate passed and President Obama signed the Credit Cardholders’ Bill of Rights and the Dodd-Frank legislation, which included a stronger, more direct approach to addressing swipe fees.”
Ms. Pelosi is not the only member of Congress to push back against the report. Mr. Boehner says that he had not personally engaged in insider trading, despite allegations that he had profited from the purchase of health care stocks that increased in value during the debate over President Obama’s health care law.
“I have not made any decisions on day-to-day trading activities in my account,” Mr. Boehner told reporters. “And haven’t for years. I don’t– I do not do it, haven’t done it and wouldn’t do it.”
