Can't come soon enough.
Posted on 12/30/2021 8:55:18 PM PST by SeekAndFind
House Speaker Nancy Pelosi (D-CA) was asked in a press conference earlier this month whether members of Congress should be allowed to trade individual stocks, despite often having access to insider information.
Pelosi was all in favor of it, saying “We’re a free-market economy” and that members of Congress “should be able to participate in that.”
REPORTER: "Should members of congress and their spouses be banned from trading individual stocks while serving in congress?"
PELOSI: "No…We are a free market economy. They should be able to participate in that." pic.twitter.com/2SNqSCwFEU
— Townhall.com (@townhallcom) December 15, 2021
Turns out that within a few days of that, Pelosi and her husband Paul bought millions in call options for Google, Salesforce, Roblox, and Disney stocks.
The Pelosi family’s trades this month include Google and Salesforce call options worth between $500,000 and $1 million each, as well as Roblox call options valued at between $100,000 and $250,000. The duo also bought up between $250,000 and $500,000 in calls for chipmaker Micron Technology and between $100,000 and $250,000 of Disney call options in disclosures that were earlier reported by Congresstrading.com.
Paul Pelosi runs Financial Leasing Services, a real estate and venture capital investment and consulting firm. In recent years he’s made big-money bets on companies his wife is supposed to regulate, including Amazon, Apple, and Google.
Some are raising questions about whether Pelosi is slow-walking bipartisan legislation that could adversely impact tech firms. So that puts an even sharper question on her buying tech shares. Folks on both sides of the aisle have called for banning members of Congress from trading in individual stocks, including Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Elizabeth Warren (D-MA).
But Pelosi is not in Congress because she’s getting rich, mind you; she’s there because she cares so much about the poor and wants to work on their behalf. No, seriously, that’s what she claims.
Here’s a flashback to how CNN’s Wolf Blitzer chided her about needing to help the poor, and she kept insisting, “We [Democrats] represent them.” This clip is about as full of it as you can get.
As we end the year once again rooting, with fingers crossed, for Nancy Pelosi to increase her nine-figure net worth with more stock bets🤞, let us recall that time she chided Wolf Blitzer for his failure to recognize how much she does for The Poor:pic.twitter.com/RZyfxOJJbA
— Glenn Greenwald (@ggreenwald) December 30, 2021
“Have you fed them?” Pelosi demanded. “We feed them,” she claims. No, you don’t feed them. You keep them poor. Pelosi doesn’t represent the poor in the slightest; what she cares about is her power, how much she’s pulling in, and whether or not her designer freezers are packed full of designer ice cream. And look how disturbed she gets with Blitzer because, for once, he’s not bending over completely for her.
But this is what she’d like people to think Democrats are about, that they’re so caring. It’s all a shell game. It’s like why she’s so focused on Jan. 6 — it’s because that’s all she has to try to distract from what a horrible mess Joe Biden and the Democrats have been. She knows Americans are about to hand her a huge defeat in the midterms, and that’s all she has left with which to try to attack Republicans. That’s pretty poor ammunition, she knows she’s about to lose her power and is doing everything she can to hold onto it. But people have eyes — and they’re about to hand Pelosi a message that she wouldn’t soon forget.
A “free market”, by definition, does not give insider information to a select few.
I hope she enjoys her 30 pieces of silver.
Okay, if they can trade, considering their positions, how about they be required to publicly disclose all trades within 24 hours. Maybe a Congressional log that the public can see.
Can't come soon enough.
Nancy won’t die
She’ll just “nasty” away
Hell, I say just throw a bucket of water on her and watch her melt.
Cbsnews.com
circa 2011
pelosi and visa
As Steve Kroft reported on “60 Minutes,” Pelosi is one of many lawmakers whose stock market trades could have been seen as a conflict of interest. The former speaker and her husband have participated in at least eight IPOs, one of which was from Visa in 2008 - just as a troublesome piece of legislation that would have hurt credit card companies began making its way through the House. The Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64.
Now Newsweek and The Daily Beast report that this stock purchase was made as Visa was engaged in a full-court press to lobby Pelosi to stop legislation to curb credit-card swipe fees to vendors.
In 2007, Visa used an army of lobbyists to try to influence Pelosi, including one of her former advisers, Dean Aguillen, Newsweek reports. Aguillen left Pelosi’s office to work for the lobbying firm Ogilvy. By law, he could not lobby Pelosi’s office directly, but he did lobby Congress on the credit card issue and offered advice to other lobbyists on that particular mission.
In addition to exploiting the revolving door between Congress and lobbying firms, Visa’s political action committee made a $1,000 donation to Pelosi’s re-election campaign, Newsweek reports (Visa headquarters is in Pelosi’s home district). Two days after that donation was made, Pelosi met with Visa executives in her office. Aguillen also contributed $1,000 to Pelosi and another $1,000 to the campaign arm of the House Democratic caucusin the first half of 2008.
The former speaker maintains she wasn’t influenced by Visa’s lobbying efforts or her husband’s stock purchases. “I will hold my record in terms of fighting the credit card companies as speaker of the House or as a member of Congress up against anyone,” she told “60 Minutes.”
Indeed, the swipe fee legislation opposed by credit card companies eventually passed. Additionally, in 2008 — before the Pelosis’ stock transaction — the House passed the Credit Cardholders’ Bill of Rights over the objections of the industry.
Drew Hammill, a spokesman for Pelosi, said her husband Paul Pelosi’s finances are kept distinctly separate from the congresswoman’s legislative work, Newsweek reports.
Pelosi is far from the only example of a legislator about whom questions have been raised.
“We know that during the health care debate people were trading health care stocks,” Peter Schweizer, a fellow at the conservative Stanford think tank the Hoover Institution, told “60 Minutes.” “We know that during the financial crisis of 2008 they were getting out of the market before the rest of America really knew what was going on.”
With the new focus on congressional “insider trading,” legislation to stop it is gaining momentum. Democratic Reps. Louise Slaughter of New York and Tim Walz of Minnesota have introduced legislation to stop insider trading in Congress. But the bill, which has been introduced before, has never had more than 14 congressional sponsors.
Today, however, Sens. Scott Brown, R-Mass., and Kirsten Gillibrand, D-N.Y., and said they will introduce the legislation in the Senate. Several other lawmakers are now saying they could support the measure, Roll Call reports, including Pelosi.
Watch the “60 Minutes” report at web site.
House Speaker Nancy Pelosi’s husband cashed in on Big Tech just as Congress was set to pounce
BY SOPHIE MELLOR, Fortune, July 8, 2021 8:26 AM EDT
The week before the House Judiciary Committee voted on reigning in big tech, Speaker Nancy Pelosi’s husband exercised a bullish bet on Google-parent Alphabet, in a timely transaction that netted him $5.3 million.
The antitrust bill was advanced as a push by the government to curb the “unregulated power” of big tech firms Google, Amazon, Apple and Facebook. It was the final part of a six-part package called “Ending Platform Monopolies Act” aimed at restricting how big tech companies offer their products to ensure they don’t use their size to dominate the market.
However, despite its good intentions, the market reaction to the judiciary panel approving the legislation was muted—shares in big tech companies in fact rose after investors found the House proposal to be no real threat.
Paul Pelosi, who bought 4,000 shares of Alphabet on June 18 (as revealed in a financial disclosure signed by Nancy Pelosi and filed on July 2), made an initial $4.8 million gain from Alphabet’s rising share price, and has since seen his gain grow to $5.3 million.
Paul bought the stock by exercising a call option, which allows investors to speculate on stocks they do not own by entering into a contract that allows them to buy a stock at a later date at a promised price. The upshot: a call option is a good tool for an investor who believes the stock price will go up in the future. In Pelosi’s case, the call options he’d previously bought for Alphabet (which were due to expire the day of his purchase) allowed him to buy it at $1,200 a share while the shares closed that day just over $2,500, a difference that accounted for his profit.
Paul Pelosi also reported buying call options for Amazon, Apple and NVIDIA, but he did not report exercising them.
Nancy Pelosi’s spokesperson said “The speaker has no involvement or prior knowledge of these transactions,” in an emailed statement on Wednesday, adding that Speaker Pelosi doesn’t own any stock.
Capitol gains
Great stock timing in DC isn’t exactly novel. Republican senators Richard Burr and Kelly Loeffler had inside knowledge of the impending COVID-19 crisis when they sold shares in January 2020.
Burr sold $1.7 million worth of stock holdings, while the former senator, Loeffler, wife of New York Stock Exchange chairman Jeffrey Sprecher and richest member of Congress at the time, unloaded up to $3.1 million worth of stock after getting closed-door briefings on the COVID-19 threat.
It is illegal for Congress members to trade based on non-public information gathered during their official duties, but it is hard to charge members of Congress with insider trading. Neither Burr not Loeffler faced any charges following inquiries.
But while it is hard to prosecute politicians over such stock sales, Twitter is less forgiving. ‘Nancy Pelosi Insider Trading’ began to trend on the social media service and people have called for her removal from office.
Some are raising questions WRT Speaker Pelosi using her powerful position to slow-walk legislation that could profit her family finances.....for example, she could even be holding back legislation that adversely impacts tech firms she and her husband are invested in.
Paul Pelosi runs Financial Leasing Services, a real estate and venture capital investment and consulting firm. In recent years he’s made big-money bets on companies his wife is supposed to regulate, including Amazon, Apple, and Google.
Wasn’t that the action that tripled my credit card interest rates? To save me from myself, or something?
The Pelosi’s are worth over 100 million, by some estimates. When does one realistically decide that they have enough? Or is the goal really just to grab all you can. While to you can? That does indeed seem to be the case.
P
Oh that?
Nancy got that passed “to feed the poor”....../SARC.
Pelosi invested heavily in CrowdStrike, a cybersecurity firm, an arm of the DNC
Nancy Pelosi just invested heavily into CrowdStrike, a cybersecurity firm that is an arm of the DNC. It was Crowdstrike that claimed DNC was hacked by Russia, but refused to turn over the data and hardware to the
DETAILS $9 billion to Expand and improve the Technology Modernization Fund....... will help the U.S. launch major new IT and cybersecurity shared services at the Cyber Security and Information Security Agency (CISA) and the General Services Administration and complete modernization projects at federal agencies.
H/t Erik latranyi
They cheat, boldly and in the open, and laugh at you when you notice.
We owe an apology to every single corrupt Latin-American and African country we have ever criticized.
Jhn 12:4 - But one of His disciples, Judas Iscariot, Simon’s son, who would betray Him, said,
Jhn 12:5 - “Why was this fragrant oil not sold for three hundred denarii and given to the poor?”
Jhn 12:6 - This he said,
not that he cared for the poor,
but because he was a thief,
and had the money box;
and he used to take what was put in it.
Nancy’s ilk has been around a long time.
A $100mil reported, but how much more is hiding in off shore banks?
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