Posted on 01/25/2023 8:47:22 PM PST by BenLurkin
Representative Nancy Pelosi's decision to sell her Google stocks just a month before the Department of Justice (DOJ) and eight states sued the tech giant has raised eyebrows as to whether she knew a massive antitrust lawsuit was coming.
The DOJ announced Tuesday that it was suing Google for abusing a monopoly over a "wide swath" of online advertising tools and corrupting "legitimate competition in the ad tech industry" by doing so.
Shortly after the announcement, some social media users noticed that Pelosi sold up to $3 million of her Google stocks four weeks earlier. Congressional filings show that the California Democrat sold 10,000 shares of Alphabet Inc., Google's holding company, on December 20, 21 and 28. Each amount ranged between $50,001 and $1 million.
"You don't have to be a conspiracy theorist to wonder how Nancy Pelosi knew to sell off $3 million of her Google stock 4 WEEKS before the DOJ opened their tech monopoly lawsuit against them," former GOP Senate candidate James Bradley tweeted.
Republican Senator Josh Hawley of Missouri, who on Tuesday introduced a bill that would ban members of Congress from trading and owning stocks, wrote: "People have asked why I named my stock trade ban the PELOSI Act. Now you know."
(Excerpt) Read more at newsweek.com ...
Aren’t members of Congress allowed to use inside information to make a profit for themselves in equities?
Oh it’s “raising questions”? I’m sure Pelosi is very worried.
“Theres entire internet groups dedicated to following the Pelosi family’s suspiciously effective investing strategy.”
Really, someone should just start a fund that buys and sells whatever Congress critters are buying and selling in large amounts. I bet it would consistently outperform the market by a wide margin.
Members of Congress are exempt from the insider trading laws )and many others, no doubt).
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