Dem Elaine Luria slams proposals to ban stock trading by lawmakers: 'This whole concept is bullshit'

[Celerity]

Rep. Elaine Luria of Virginia said "the whole concept" of banning lawmakers from stock trading is "bullshit."
She and her husband own millions of dollars in stocks and traded hundreds of thousands of dollars worth of stocks last year.
Pelosi has opened the door to banning stock trading for lawmakers, and momentum is quickly building.

https://www.businessinsider.com/elaine-luria-opposes-stock-trade-ban-lawmakers-2022-2



Democratic Rep. Elaine Luria of Virginia came out strongly against proposals to ban lawmakers from trading stocks, saying on Wednesday that the "whole concept is bullshit." Her comments echoed those of Sen. Tommy Tuberville of Alabama, who has violated the STOCK Act 132 times, and called the idea "ridiculous."

Asked by Punchbowl News' Max Cohen about House Speaker Nancy Pelosi's reported openness to banning the practice, Luria — one of the caucus' more vulnerable members in 2022 and a member of the committee investigating the January 6 riot — didn't mince words.

"I think this whole concept is bullshit," she said. "Because I think that, why would you assume that members of Congress are going to be inherently bad or corrupt? We already have the STOCK Act that requires people to report stock trades."

Punchbowl also reported that Luria raised the issue during a recent meeting with other vulnerable "frontline" Democrats — those who represent swing seats and are at the highest risk of losing reelection. Rep. Cindy Axne of Iowa, who has violated the STOCK Act at least 40 times, also voiced concerns.

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https://disclosures-clerk.house.gov/public_disc/financial-pdfs/2020/10042701.pdf

Luria has a heavy position in publicly traded stocks. Luria and her husband, Robert Blondin, own between $1 million-$5 million in Facebook stock, $1 million-$5 million in ​​NVIDIA stock and $500,000-$1 million in Netflix stock.