Posted on 12/10/2011 8:36:53 PM PST by DBCJR
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Pelosi and her husband doubled their stock investment on a highly sought after Visa IPO in a matter of only weeks, according to Schweizer.
“She and her husband were given access to low price, pre-IPO shares of stock — 5,000 shares that they were able to buy for $44 apiece and then they were able to see that value go up by 50 percent in one day, and then more than double in value within a couple of weeks,” he says, adding that the deal took place during Pelosi’s reign as Speaker.
“They were given access to this stock that really hardly any other individual investors were,” he explains. “I would argue the timing was significant because they were given access to the shares at the precise time that Visa was very concerned about two pieces of legislation that would affect its bottom line... pieces of legislation were never even brought by House Speaker Nancy Pelosi to the full house for a vote.”
He says there were at least eight other instances where Pelosi got access to IPO deals.
... I think that if Nancy Pelosi instead of receiving these IPO shares from Visa had received a shoebox of cash, she would be facing criminal charges right now...”
He points to one study that reveals a correlation between how lawmakers voted with respect to the TARP bailout in 2008 and their own investment portfolios.
“What they found was the number one determining factor in whether you vote for or against, was not whether you were conservative or liberal, not whether you were Republican or Democrat, but whether you owned stocks in the bank sector,” according to Schweizer. “If you did, you voted in favor of the bailout. If you didn’t, you tended to vote against.”
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(Excerpt) Read more at newsmax.com ...
Crooks, all of them, Republican and Democrat alike.
This is what you get when you don’t have term limits. You breed a class of professional politicians who spend their lives getting rich at public expense, who pass legislation for everybody else but who have the power to exempt themselves.
I heard the other day that insider trading laws don’t pertain to members of Congress - can anyone confirm?
And if not, in heaven’s name, why?
Because they wrote them and did not publicize the fact that they left themselves an opening for corrupting influence. Truth be told there are likely quite a few interesting legal gaps such as this benefitting members of Congress. It’s reasonable to assume that this sort of thing is why individuals of fairly modest means can go into Congress and come out the other end quite wealthy.
And BTW-My cousin is a drug conselor who says NP constantly displays all the symptoms of being under the influence of cocaine -Involuntary mouth movements, twitching, bug eyes, paranoia, and I believed her when she showed me various videos of NP on Youtube, hence my tagline--------->
Yes, this is true. The question as to why is at hand. I think the original thought was that such an application would be unfairly constraining as Congress is privy to too much information. However, the VISA IPO scandal was about favorable access to a limited IPO that was timed at major legislation scheduled voting that would favor the stock. Even if the original reason was legitimate, this was bribery.
Simple fix...
No elected officials’ net worth should be allowed to go up more than what the one year Treasury Bond is paying for the year. Anything over is taxed 100%.
And make that retroactive back to the first year they were elected.
Pelosi should be behind bars, along with Frank, Dodd, Corzine, Holder, etc...
Congress passed a law that made them “EXEMPT” from insider trading...
Pelosi can never be prosecuted...because She didnt break any Law...
but that doesnt mean She isnt a dirty corrupt Partizan Marxist.
The answer is simple Fire every single person in Washington.
and Vote in new ones....
Might just be the Botox. Wanna guess how much botulism it takes to fry yer lobes when injected 1/8th on an inch away?
They are no longer public servants but public leeches. And just think; This all started so farmers wouldn’t have to leave their crops. They sent messengers aka “reps” instead which have now mutated into a bunch of mini monarchys, but you’ll never see those OWS ‘tards protesting that.
The ethical members (and their spouses) put all of their investments in a blind trust and don’t even know what their holdings are. Few and far between, unfortunately.
That is 100% correct. They are excempt because they proposed the bill that exempted them and they passed the bill. Most Democrat and Republican members voted for it.
In effect it says, Congress is exempt from the criminal activity of insider trading.
Some years ago Humorist P.J. O'Rourke wrote a book about Congress called "Parliament of Whores." Although outrageously funny it was 100% accurate in defining Congress for what it is. However I would think that whores have a very valid class action suit against O'Rourke by comparing them to Congress. There are some things that whores will not do. That can not be said for Congress as whole.
Sure the laws apply to them; however, they made an illegal law that says it doesn’t. Believe me, it still applies. I am sick of their bs line that it isn’t illegal for them. That is nonsense. Of course it does.
For increased taxes, eh?
My cousin told me the #1 give away for someone under the influence of cocaine is involuntary mouth movements and you cannot believe the videos of this bitch doing just that, the latest being that press conference when the reporter asked her about conflict of interest and whoa! Just totally obvious. She cannot stop chomping. Oh yes plus the paranoia....She went into this freak out rather than answer the question. This nonsense has got to end, these people make decisions that affect millions of people and they are not tested for being under the influence of drugs? WTF is that?
Congresscritters to O6ret: Booh on you, I think I’m gonna vote myself a hefty pay raise and do some insider trading to make the season bright(er).
Pelosi’s blatant corrupt Insider Trading (illegal for you, legal for democrats) conducted as discussed above occured several years ago.
I would point out that mega-thief House Minority Leader Nancy Pelosi’s net worth skyrocketed 62% last year, to a jaw-dropping $35.2 million, according to financial disclosure forms released for tax year 2010. Reference:
http://articles.nydailynews.com/2011-06-16/news/29687626_1_stock-gains-house-speaker-charles-rangel
This really isn’t any different than Hillary’s crooked “investments” that nothing was ever done substantively about. Crooked is crooked - and Pelosi is no different.
The real reason is they write the tax codes. Business lives or dies by the tax codes as do Labor Unions. If I were Visa or Master Card, throwing a couple of million to Democrat Pelosi is a perfectly legal investment in corruption. However a couple of million to a Republican is an even better investment. Republicans being of slightly (very slightly) superior moral turpitude stay bought. You have to buy the democrat members of the house ever two years. My apologies to all hard working ladies of carnal pleasure. To compare you with the shameless pit of congressional turpitude that is congress, is most surely wrong.
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