THE NUMBER ONE TOURIST DESTINATION FOR PEOPLE RYING TO HANG MY PANTS, YOU MAY NOT KNOW THIS BUT MOST MEMBERS OF CONGRESS ARE FORCED TO SCRAPE BY A MEESLY $200,000 A YEAR SALARY, WHICH WHEN YOU THINK ABOUT IT IS BARELY ENOUGH TO AFFORD A GOOD PROSTITUTE. SO NATURALLY THEY NEED TO SUPPLEMENT THEIR INCOME BY INVESTING IN THE STOCK MARKETS. IT IT IS A NATURAL THING. BUT IF YOU CAN BELIEVE IT, THERE IS NOW A NEW MOVEMENT IN CONGRESS TO STOP MEMBERS FROM TRADING STOCKS ALL TOGETHER. >> IT'S RARE THESE DAYS FOR THIS DIVIDED CONGRESS TO AGREE ON ABSOLUTELY ANYTHING. BUT THERE MAY BE ONE ISSUE. IT HAS THE LIKES OF ALEXANDRIA OCASIO-CORTEZ AND KEVIN McCARTHY ON THE SAME SIDE. THEY'RE BOTH AMONG MEMBERS OF CONGRESS PUSHING FOR NEW RESTRICTIONS ON HOW LAWMAKERS TRADE STOCKS. >> DEMOCRATIC SENATOR JON OSSOFF JUST RELEASED A BILL TONIGHT THAT WOULD FORCE LAWMAKERS TO PUT THEIR ASSETS INTO A BLIND TRUST OR PAY A FINE OF THEIR ENTIRE SALARY. GOP SENATOR JOSH HAWLEY IS WORKING ON A VERSION TOO AND IN THE HOUSE THERE IS ALREADY A BIPARTISAN BILL CALLED THE TRUST IN CONGRESS ACT. >> THIS COMES ONLY A FEW WEEKS AFTER HOUSE SPEAKER NANCY PELOSI DOUBLED DOWN ON THEIR RIGHT TO INVEST IN THE STOCK MARKET. >> IF MEMBERS OF CONGRESS-- TRADE INDIVIDUAL STOCKS. >> I NO, NO TO THE SECRETARY ONE, THIS IS A FREE MARKET AND PEOPLE, WE ARE A FREE MARKET ECONOMY THAT SHOULD BE ABLE TO PARTICIPATE IN THAT. >> Trevor: OKAY, WELL FIRST OF ALL, I CAN'T BELIEVE THERE IS AN ISSUE THAT AOC AND KEVIN McCARTHY AGREE ON. THOSE PEOPLE DON'T AGREE ON ANYTHING, EXCEPT THAT THOSE KIDS ON EUPHORIA ARE WAY TOO HORNY. DON'T YOU GUYS HAVE HOMEWORK. I'M PRETTY SURE YOU CAN'T PUT COCAINE ON A COLLEGE APPLICATION. AND BY THE WAY, THIS BILL IS QUITE A MOVE FOR A NEW SENATOR LIKE JON OSSOFF, THINK ABOUT IT, THE GUY JUST GOT TO THE SENATE AND HE'S ALREADY COMING AFTER THE WALLETS OF HIS COWORKERS? IT IS LIKE SHOWING UP TO PRISON ON YOUR FIRST DAY AND BEING LIKE HEY, WARD EN, I THINK THESE GUYS ARE USING SPOONS TO DIG SOMETHING. BUT THE QUESTION STILL IS WHY DO SO MANY REPRESENTATIVES FROM ACROSS THE POLITICAL SPECTRUM WANT TO BAN CONGRESS FROM TRADING STOCKS. AND WHY IS NANCY PELOSI AGAINST THAT. WELL, LET'S FIND OUT. >> IN ANOTHER INSTALLMENT OF IF YOU DON'T KNOW, NOW YOU KNOW. >> THE FIRST THING TO KNOW IS THAT HISTORICALLY CONGRESS HAS HAD NO RESTRICTIONS WHEN IT IT COMES TO TRADING STOCKS, FOR MOST OF AMERICAN HISTORY INSIDER TRADING LAWS THAT AFFECTED C.E.O.S ISN'T APPLY TO MEMBERS OF CONGRESS. SO IF THOMAS EDISON TESTIFIED BEHIND CLOSED DOORS, SENATORS COULD JUST CALL UP THEIR BROKER GOING DUMP ALL MY SHARES IN CANDLES. THAT SHIT IS OVER, I TELL YOU. THEY COULD USE THIS ADVANCED SECRET KNOWLEDGE TO MAKE MONEY FOR THEMSELVES. AND IT WAS ILLEGAL FOR EVERYONE ELSE TO DO IT TBU FOR SOME REASON CONGRESS COULD. AND IT MAY HAVE SOMETHING TO DO WITH THE FACT THAT THEY WERE MAKING THE LAWS, WHO KNOWS. SO IT ST NO SURPRISE THAT MEMBERS OF CONGRESS HAVE BEEN REALLY GOOD AT TIMING THE STOCK MARKET. >> ECONOMISTS HAVE STUDIED THE PORTFOLIOLESS OF MEMBERS OF CONGRESS AND FIND THEY SYSTEMICALLY OUTFORM PERFORM THE STOCK MARKET. >> A STUDY OF DAILT FROM THE 1990 SHOW SENATORS TRADES OUTPERFORMED THE MARKET BY 12 PERCENT BER YEAR, THAT CRUSHES INVESTMENT GURU WARREN BUFFETT WHO ONLY MANAGES TO BEAT IT BY 2.5%. >> A 2008 FINANCIAL CRISIS TURNED IT OUT TO BE A FREE FOR ALL FOR INSIDER TRADING ON CAPITOL HILL. ACCORDING TO A "WASHINGTON POST" EXPOSE 35 MEMBERS CASHED OUT ON INFORMATION THEY RECEIVED FROM MEETINGS WITH TREASURY SECRETARY HANK PALMSON AND OTHERS. >> ONE OF THOSE ATTENDING WAS ALABAMA REPRESENTATIVE SPENCER BACHUS. WHILE CONGRESSMAN BACHUS WAS PUBLICLY TRYING TO KEEP THE ECONOMY FROM CRATERING HE WAS PRIVATELY BETTING IT WOULD. BUYING OPTION FUNDS THAT WOULD GO UP IN VALUE IF THE MARKET WENT DOWN. HE WOULD MAKE A VARIETY OF TRADES AND PROFIT AT A TIME WHEN MOST AMERICANS WERE LOSING THEIR SHIRTS. >> NOW LOOK, I KNOW SEEING POLITICIANS PROFIT OFF OF AN ECONOMIC MELTDOWN MIGHT MAKE YOU ANGRY BUT DON'T FORGET THEY SUFFERED TOO. DO YOU HAVE ANY IDEA HOW HARD IT IS TO PRETEND TO IT BE SAD WHEN YOU ARE MAKING BANK. THEY HAVE TO GIVE SPEECHES OF FIGHTING THE URGE TO BE THE DOUGIE LIVE ON CAMERA. AND OBVIOUSLY SOMETHING FISHY IS GOING ON WHEN MEMBERS OF CONGRESS ARE DOING BETTER IN THE STOCK MARKET THAN WARREN BUFFETT. I MEAN IT DEFINITELY MAKES THOSE FUNDRAISING EMAILS EVEN MORE ANNOYING. I NEED FIVE DOLLARS BY MIDNIGHT. BITCH, GO TALK TO YOUR E.TRADE, WHAT ARE YOU TALKING TO ME FOR. I DON'T KNOW, MAYBE I'M JUST JEALOUS BECAUSE MEMBERS OF CONGRESS GET ALL THE COOLEST SECRETS, YOU KNOW, WHICH STOCKS TO BUY, WHO THE CIA IS KILLING. WHERE THEY ARE KEEPING THE ALIENS. EVERY OTHER WORKPLACE HAS STUPID SECRETS. LIKE MY COOLEST SECRET RIGHT NOW AT THE SHOW IS THAT OUR PRODUCER SHELLEY IS PREGNANT AND SHE'S GOING TO SURPRISE HER HUSBAND ON VALENTINE'S DAY, BORING. BUT WHEN PEOPLE FOUND OUT ABOUT CONGRESSMAN MAKING MONEY OFF OF THE FINANCIAL CRIES,-- CRASH, THERE WAS A BIG ENOUGH OUTCRY THAT CONGRESS WAS FINALLY SHAMED INTO REGULATING THEMSELVES. THEY PASSIONED THE STOCK ACT. WHICH BANNED MEMBERS OF CONGRESS FROM TRADING STOCKS BASED ON PRIVATE INFORMATION. AND FORCED THEM TO PUBLICLY DISCLOSE ALL THEIR TRADES WITHIN 45 DAYS. BUT IT TURNS OUT THAT LEGISLATION IS LIKE MOST MEMBERS OF CONGRESS BEFORE BED, COMPLETELY TOOTHLESS. >> IT IS CERTAINLY ILLEGAL FOR MEMBERS OF CONGRESS TO PARRA TAKE IN INSIDER TRADING. PROVING THAT IS VERY DIFFICULT. >> IF YOU WANT TO NAIL THEM ON INSIDER TRADING, GOOD LUCK. YOU COULD ESSENTIALLY SAY LISTEN, I WAS RECENTLY TOLD BY MY BROKER I SHOULD TELL OR I HEARD SIMILAR STUFF FROM A THIRD PARTY. >> D O.J. HAS YET TO SUCCESSFULLY CONVICT AN ELECTED MEMBER OF CONGRESS BASED ON THIS LAW. >> EVEN IF THE LAW IS FOLLOWED, IT BARELY HAS ANY TEETH. NEARLY 50 LAWMAKERS BOTH REPUBLICANS AND DEMOCRATS AND NEARLY 200 OF THEIR STAFFERS HAVE REPEATEDLY VIOLATED THE STOCK ACT WITH ALMOST NO CONSEQUENCES. YOU CAN MAKE TENS OF MILLIONS OF DOLLARS WITH PRIVILEGED INFORMATION AND WHAT THE PENALTY FOR FAILING TO REPORT THESE PURCHASES? IT IS A JOKE. IT IS AS LOW AS $200. >> Trevor: $200 IS A PENALTY? I MEAN LOOK, I'M NO MATH EXPERT BUT IF I HAVE TO PAY A $200 FINE TO MAKE A TRADE THAT EARNS ME MILLIONS OF DOLLARS, IT WOULD BE LIKE I'M COMING OUT AHEAD. LIKE I'M MAKING A THOUSAND DOLLARS IN PROFIT AT LEAST, RIGHT? $200 IS NOT A PENALTY, PEOPLE, THAT IS A CHIP YOU THROW TO THE DEALER AFTER YOU WIN THE POKER TOURNAMENT. YOU LOSE 200 JUST CARRYING THE MILLION DOLLARS TO THE BANK 6789 SO IT TURNS IT OUT THAT THE STOCK AK IS JUST ANOTHER ONE OF THOSE LAWS THAT NO ONE ENFORCES LIKE JAYWALKING OR PUSHING ALL THE BUTTONS IN AN ELEVATOR. AND DON'T FORGET IT'S REALLY HARD TO PROVE INSIDER TRADING AM YOU CAN JUST SAY YOU WEREN'T EVEN PAYING ATTENTION DURING THAT PRIVATE BRIEFING THAT YOU GOT WHICH AS A MEMBER OF CONGRESS IS ACTUALLY A VERY BELIEVABLE ALIBI, SO THE STOCK ACT REALLY DID NOTHING TO STOP INSIDER TRADING. LIKE REMEMBER, REMEMBER HOW THOSE CONGRESSMEN SOLD THOSE STOCKS BEFORE ITS CRASH IN 2008. WELL THE SAME THING HAPPENED AGAIN A COUPLE OF YEARS AGO BEFORE COVID HIT. YEAH, MULTIPLE SENATORS DUMPED THEIR STOCKS AFTER INTELLIGENCE OFFICIALS TOLD THEM IN A PRIVATE BREACHING THAT ALL OF THOSE COUGHING PEOPLE IN CHINA WERE ABOUT TO TANK THE WORLD ECONOMY AND STILL NO ONE GOT PUNISHED. WHICH IS WHY EVEN AFTER THE STOCK ACT MEMBERS OF CONGRESS CONTINUED TO DO SO WELL THAT SOME OF THEM HAVE THEIR OWN FINANCIAL GROUPIES. AND NO ONE HAS MORE THAN NANCY PELOSI. >> SOME TIKTOKERS ARE GETTING STOCK MARKET IDEAS BY TRACKING MEMBERS OF CONGRESS AND ONE OF THEIR FIF RITES IS HOUSE SPEAKER NANCY PELOSI. >> NANCY PELOSI JUST PURCHASED MILLIONS OF DOLLARS IN CALL OPTIONS, YOU'VE GOT TO SEE THIS. >> SHOT OUT TO NANCY PELOSI, THE STOCK MARKET'S BIGGEST WHALE, APPARENTLY SHE DECIDED TO GO VERY HEAVY IN TECH STOCKS. I WILL SHOW YOU WHICH ONES SHE BOUGHT. >> THE QUEEN OF INVESTING JUST SPENT $300,000 ON THIS ONE STOCK SO I THINK I WILL BE PICKING UP A COUPLE SHARES ON MONDAY. >> THIS IS ABOUT TO GO CRAZY BECAUSE NANCY PELOSI BOUGHT IT. >> Trevor: THAT'S RIGHT, NANCY PELOSI IS A STAR ON TIKTOK. SHE DIDN'T NEED TO STEAL ANY BLACK PEOPLE'S DANCE MOVES TO DO IT T THAT IS AMAZING. IN FACT, I ALMOST RESPECT PELOSI'S HUSTLE. SHE IS 81 YEARS OLD. MOST OF HER FRIENDS ARE PROBABLY PLAYING THE NICKEL STOCKS RIGHT NOW BUT SHE SNOWS THAT IT DOESN'T MATTER IF IT IS CASINOS OR WALL STREET, THE HOUSE ALWAYS WINS, BABY. NOW HASPEL OSI BEEN SO SUCCESSFUL BECAUSE OF INSIDER INFORMATION, THERE THERE'S NO WAY TO KNOW BUT WHAT'S CLEAR IS THAT JUST BEING A MEMBER OF CONGRESS MEANS THAT YOU WILL PROBABLY KNOW ABOUT THE BAD STUFF THAT WILL CRASH A STOCK BEFORE THE REST OF US. YEAH. WHETHER IT IS THE HOUSING BUBBLE, OR ELON MUSK HOSTING SNL. AND UNTIL MEMBERS OF CONGRESS ARE BANNED FROM TRADING STOCKS CONGRESS WILL KEEP HAVING AN EDGE OVER REGULAR PEOPLE. AND IT WILL ALL BE COMPLETELY LEGAL OR AT THE VERY LEAST SO UNENFORCEABLE THAT IT IS LEGAL BY DEFAULT. BUT YOU HAVE TO TAD MIT IT IS SUCH A SMOOTH WAY TO DO CORRUPTION. IN FACT IT IS SUCH A SMOOTH WAY THAT LEADERS IN THE OTHER PARTS OF THE WORLD ARE STARTING TO TAKE NOTICE. >> GENTLEMEN, WELCOME TO THE-- IT APPEARS PEOPLE HAVE GIVEN YOU THE SACK RECEIPT POLITICAL OFFICE. HOW DO YOU USE THAT TRUST TO GET RICH. >> I WILL PASS LAWS THAT HELP THOSE CORPORATIONS IN EXCHANGE FOR MONEY. >> NO, THAT IS COR RUFNTION. WHAT YOU DO IS YOU BUY THE STOCK IN THE COMPANY AND THEN YOU PASS THE LAW, BUT THAT IS ALSO CORRUPTION, NO, THAT IS A FREE MARKET. IS I IT WITH ME. FREE MARKET. FREE MARKET. SAY IT WITH FEELING. FREE MARKET. >> FREE MARKET. >> PUT THIS IN YOUR-- BOOK, FREE MARKET! GOOD, IN AMERICA, IF YOU SAY THE WORD FREE MARKET YOU CAN DO ANYTHING IT ST LIKE THEIR WITCHCRAFT BUT TEACHER, WHAT IF I CALLED CAUGHT TRADING ON MY INSIDE KNOWLEDGE. >> THEN YOU PAY THE PENALTY. >> BUT AS A LAWMAKER YOU GET TO DECIDE THE PENALTY. >> OH. I WILL PAY $200? >> THAT IS INSULTINGLY LOW. GOOD JOB! >> STUDENTS, YOU KNOW WHAT TO DO. >> I BUY STOCKS IN-- YOU HAVE PASS PASSED THE TEST. >> THERE IS NO TIME. >> OH NO, THERE IS. >> Trevor: ALL RIGHT, WHEN WE
