Posted on 07/08/2021 5:47:02 AM PDT by karpov
Did Paul Pelosi, the financier husband of House Speaker Nancy, profit off of insider Beltway scuttlebutt in June to make about $5 million on options contracts tied to Alphabet’s stock?
Late on Wednesday evening, Bloomberg News published a report titled “Pelosi’s Husband Locked In $5.3 Million From Alphabet Options,” which carried the subheadlines, “Action was week before House panel considered antitrust bills,” and “Antitrust bills target Alphabet’s Google, Apple, Amazon.” The Bloomberg report followed a Fox Business News piece looking at Pelosi’s June trades, which were laid out in a July 2 disclosure form.
Both stories raise a connection between Pelosi’s trades in Alphabet and a House Judiciary Committee’s vote on a number of antitrust efforts aimed at big technology titans like Alphabet, Amazon, Apple, Facebook, and Microsoft. Some of the bills, which advanced from the subcommittee in July, seek to limit the market power or break up the companies entirely. After politically charged investigations of Senators’ stock trades in 2020 at the onset of the Coronavirus crisis, sleuths now comb the financial disclosure forms of congressional leaders for hints of insider trading.
When asked by Bloomberg, Speaker Pelosi’s spokesperson Drew Hamill said, “The speaker has no involvement or prior knowledge of these transactions.”
So was there anything improper about Mr. Pelosi’s trades? A few critical details indicate not. In fact, the story seems to be that he made one heck of a trade.
The trades in question involve 40 call options on Alphabet’s stock at a strike price of $1,200, which were exercised on June 18, a few days before the House subcommittee convened. The contracts gave Pelosi the right to convert his 40 call options into 4,000 Alphabet shares at a price of $1,200.
(Excerpt) Read more at forbes.com ...
it is good to be the Queen’s husband,
from Samoa to the US.
they are above ALL Law.
and who enforces the SEC? Strozk’s wife.
NOTHING TO SEE HERE. /s
The Pelosi laundry is back and running.
I thought this was supposed to be harder these days. Guess not.
Sadly, I think there is a law that doesn’t prevent politicians from insider trading.
I hope he uses the proceeds to buy his wife some reconstructive facial surgery.
I’m sure the Feds and IRS will be all over this, same as they’re all over Trump’s finances and tax returns.
The only reason these old fools stay in congress is to fill their Bank Accounts
That face has been remodeled so many times, there is nothing left to work with. The only solution now, is a dirt nap.
STOCK Act. Stop Trading on Congressional Knowledge. If you tell your spouse to trade on your insider information, it’s apparently fine.
You are correct. Congress passed and sustained long-running law giving them permission to do insider trading. But, this is worse. It is not just scags like Pelosi, Feinstein, Boxer (don’t forget that little toad), etc. from telling relatives what to do as new laws are coming out. No, this goes a step further; design laws to enhance this.
As to Alphabet, why any surprise? They are, like any other Chinese company totally controlled by the CCP. So, Congressional trash get direction from their communist owners on how to write US laws so that their relatives can rake in the cash and give the BigGuy his cut.
This plandemic was planned and the Pelosi’s and others made lots of money using it as a cover.
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