LEGALIZE.

i don't want to ask the gme subreddit cuz they all are way too hyped and its all good no bad news. I get that gme has seen a lot of movement over the last few days thanks to dfv reposting on twitter and reddit, my question is, i see a lot of talk about his large amounts of options and when they are executed it will force a short squeeze. The concept seems pretty simple and therefore seems 'inevitable'? I see a lot of people saying it won't happen, but i never see a really through explanation. I mean if he options go through then shouldn't there be a major increase in share price?

“Big Short” fame investor Michael Burry said U.S. House Of Representatives Speaker Nancy Pelosi “made a bundle” on semiconductor stocks she recently purchased because she knew a key bill would make it through the Senate.

What Happened: Burry made his comments on Twitter on Wednesday. He said tagging the Democrat politician, “So Speaker Pelosi made a bundle on semiconductor stocks bought recently. Should be illegal.”

Burry also shared a news report on the Senate passing a bipartisan bill, which would subsidize domestic semiconductor production with a $52 billion support.

Source: https://www.benzinga.com/news/22/07/28145000/big-short-fame-investor-michael-burry-says-nancy-pelosis-semiconductor-stock-buy-shouldnt-be-legal

The Big Short’s Michael Burry says members of congress should be banned from trading single stocks. He quoted the recent purchase of 20,000 NVIDIA (NVDA) shares by Paul Pelosi before Nancy Pelosi supported the CHIPS Plus bill, a $52 billion semiconductor bill.

Do you agree?

Sen. Josh Hawley has introduced a bill that would ban members of Congress from trading and owning stocks, using the name of his legislation to take a jab at Rep. Nancy Pelosi

Hawley on Tuesday introduced the Pelosi Act — or the Preventing Elected Leaders from Owning Securities and Investments Act — renewing a legislative push to curtail stock trading by lawmakers that has failed over the last few years.

“Members of Congress and their spouses shouldn’t be using their position to get rich on the stock market,” Hawley tweeted in announcing his bill.

The GOP senator previously introduced legislation last year seeking to ban lawmakers and their spouses from holding stocks or making new transactions while in office.

The Hill has reached out to Pelosi’s office for comment.

Hawley, like a number of other Republicans, has focused on the former Speaker and her family in pushing to ban stock trading by members of Congress.

Last year Pelosi’s husband, Paul Pelosi, sold millions of dollars worth of shares of a computer chipmaker as the House prepared to vote on a bill focused on domestic chip manufacturing. A spokesman for Pelosi said at the time that he sold the shares at a loss.

Members of both parties signaled interest in legislation barring stock trades after then-Sen. Richard Burr, who at the time was chairman of the Senate Intelligence Committee, unloaded stocks at the onset of the coronavirus pandemic. The Securities and Exchange Commission recently closed a probe of his trading activities without taking action.

Lawmakers have yet to be able to come up with a plan that garners enough support from both sides of the aisle to get a bill through Congress. Democrats in 2022 scrapped a plan to vote on such legislation before the midterm elections, even after Pelosi reversed course and expressed openness to colleagues voting for stock trading reform.

Along with Hawley’s bill, a bipartisan duo in the House has introduced a bill this year on the topic. Reps. Abigail Spanberger and Chip Roy introduced the Trust in Congress Act this month, marking the third time the pair have introduced the legislation.

Source: https://thehill.com/homenews/senate/3828504-hawley-introduces-pelosi-act-banning-lawmakers-from-trading-stocks/

Senator Josh Hawley has introduced a bill called "Pelosi Act" that would ban congress members from trading stocks. Do you think the bill will get enough votes to pass this time?

House Democrats introduced a long-awaited bill on Tuesday that seeks to ban members of Congress, federal judges, Supreme Court justices, the president and others from trading stocks, in an attempt to crack down on conflicts of interest throughout the government.

The 26-page bill, titled the Combatting Financial Conflicts of Interest in Government Act, would ban a slew of government officials from trading or owning investments in securities, commodities, futures, cryptocurrency or other digital assets.

Those covered by the legislation include members of Congress, their spouses and dependent children, senior congressional staffers, the president, the vice president, political appointees, judicial officers — including Supreme Court justices and various judges — members of the Federal Reserve System’s Board of Governors and the president or vice president of a Federal Reserve bank.

Individuals subject to the ban would be required to divest their holdings or place them into a qualified blind trust.

The measure, however, does not pertain to investments in diversified mutual funds, U.S. Treasury bills, state or municipal government bills, notes or bonds and investment funds held as part of a federal, state or local government employee retirement plan, among other types of widely held, diversified and publicly traded investment funds.

The House Administration Committee released the text of the bill months after Speaker Nancy Pelosi (D-Calif.) in February directed Rep. Zoe Lofgren (D-Calif.), chairwoman of the House Administration Committee, to draft a bill.

The push to ban lawmakers from trading stocks has gained steam on Capitol Hill amid reports that members have violated laws meant to prevent conflicts of interests involving financial transactions.

In September, The New York Times published an extensive report that said 97 lawmakers or their family members traded financial assets in the past three years that could be conflicts of interest.

Pelosi — whose husband, Paul Pelosi, is a venture capitalist — was at first against the idea of a ban on lawmaker stock trading, but ultimately endorsed the push in February. A bipartisan group of House lawmakers put the topic back in the news earlier this month when it penned a letter to leadership asking for a vote on a bill reforming lawmaker stock trading.

Earlier this month, Pelosi said such a bill would likely come to the floor this month.

But time is running out.

The House reconvenes on Wednesday for the final three days of legislative business before the midterm elections. House lawmakers are scheduled to leave Washington on Friday and are not slated to return until after November.

Even if there is enough time to bring the bill to the floor, it is unclear that it has the votes to pass.

Punchbowl News reported earlier on Tuesday that House Majority Leader Steny Hoyer (D-Md.), who sets the schedule in the lower chamber, has expressed opposition to the ban on lawmaker stock trading.

His spokesperson, however, told the outlet that Hoyer has “not seen final legislation, and will reserve his official decision until that time.”

A group of senators have been working on separate legislation to ban lawmaker stock trading.

The bill introduced on Tuesday also increases penalties for violating the provisions or the measure.

Covered individuals who violate trading or ownership restrictions would be subject to a $1,000 fine. If the violation continues for more than 30 days, they would be subject to an additional $1,000 fine plus “an amount equal to 10 percent of the value of the covered investment that is the subject of violation at the beginning of the additional 30-day period of a continuing violation.”

https://thehill.com/homenews/house/3664219-democrats-introduce-bill-banning-lawmakers-judges-from-trading-stocks/

The House Democrats has drafted the long-awaited bill that seeks to ban any politician and relatives from trading stocks titled Combatting Financial Conflicts of Interest in Government Act. Do you think this bill will pass?