Joe Rogan sharply criticized House Speaker Nancy Pelosi (D-Calif.) last week over her nonchalant attitude toward members of Congress allegedly engaging in stock market activity that is not legal.
What is the background?
Business Insider reported this month that 52 members of Congress have violated the STOCK Act, a 2012 law designed to prohibit government employees and members of Congress from insider trading or using non-public information for private gains in the stock market. Allegations of lawmakers profiting from non-public information have long plagued members of Congress.
Pelosi was confronted by a reporter two weeks ago about the allegations. Pelosi, however, dismissed a suggestion that members of Congress and their spouses should be barred from trading individual stocks.
“This is a free market and people — we are a free market economy. They should be able to participate in that,” Pelosi said.
— The Recount (@The Recount)
What did Rogan say?
During an episode of the “Joe Rogan Experience” posted last week, Rogan commented on that exact clip of Pelosi and observed that her nervousness was palpable.
“Have you ever seen a person look more nervous?” Rogan questioned.
“She’s giving this like very simplistic, almost vague answer,” he continued. “Because should you be allowed to participate in the stock market when you’re influencing the direction of the stock, or when you know which direction something’s going to go in? Or when you’re going to pass a law that’s going to benefit these businesses, that’s going to force the stock to go up, and you know that, so you invest a s**t-ton of money before it happens? That seems like it’s a problem. That seems like it’s a problem.”
“Now why is that not a problem? Because we’re f***ing co-opted,” Rogan said.
Nancy Pelosi’s Strange Response to Insider Trading Question
Earlier in the episode, Rogan described politicians making money off the mere fact of being politicians as a “genius con game” and like “a virus finds its way through the system.”
In fact, Rogan distinguished members of Congress from presidents who profit from being president.
“They’re playing a game that’s illegal to play,” Rogan said of congressional lawmakers. “Like if you know, specifically — that’s how they put Martha Stewart away, isn’t it? Wasn’t it insider trading? Yeah, so what is insider trading? It’s like, you know something, and because you know something, you can’t make a move on the market because you have inside information.”