Nancy Pelosi, the House Minority Leader, fired back at "soft-corruption" accusations against her discussed in a CBS "60 minutes" show aired Sunday.
The program highlighted Congressmen and Senators were particularly adept at trading stocks reportedly around the same time that legislation involving those investments was under discussion.
Among the lawmakers cited on the show were Nancy Pelosi, House Speaker John Boehner and Congressman Alabama Rep. Spencer Bachus.
According to CBS, Pelosi and her husband bought 5,000 shares at the initial public offering of Visa in 2008 at a price of $44 each when legislation that would have hurt the credit card companies began moving through Congress. Two days later, shares were trading at $64 each, according to CBS.
"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's office said in a statement Sunday night, according to CBS.
"It is very troubling that 60 Minutes would base their reporting off of an already-discredited conservative author who has made a career out of attacking Democrats," the statement added, according to CNN.
The 60 Minutes show was triggered by a research from Peter Schweizer and 8 students at the Hoover Institution from Stanford University, but CBS said they verified the materials of the investigation independently.
Schweizer's research found that congressmen and senators are considered exempt from insider trading laws even though they have daily access to non-public information and plenty of opportunities to trade on it.
As an example, Schweizer claimed that Congressman Alabama Rep. Spencer Bachus bought stock options based on confidential talks Congress had with Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke in mid-September 2008.
"While Congressman Bachus was publicly trying to keep the economy from cratering, he was privately betting that it would, buying option funds that would go up in value if the market went down. He would make a variety of trades and profited at a time when most Americans were losing their shirts," Schweizer said on 60 Minutes.
The show also made the same claim about House Minority Leader John Boehner.
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