Posted on 11/13/2011 5:14:43 PM PST by Bigtigermike
Former Speaker of the Houseand current Minority LeaderNancy Pelosi apparently bought $1 million to $5 million of Visa stock in one of the most sought-after and profitable initial public offerings (IPO) in American history, thwarted serious credit card reform for two years, and then watched her investment skyrocket 203%.
The revelation appears in Throw Them All Out, the new book by investigative journalist and Breitbart editor Peter Schweizer
Schweizers investigation of Pelosi and other members of Congressfrom both partiesraises a critical question: should it be legal for lawmakers to buy stocks in companies directly affected by their legislative efforts?
In early 2008, Nancy Pelosi and her real estate developer husband, Paul, were given an opportunity to buy into a Visa IPO. It was a nearly impossible featone that average citizens almost certainly could never achieve.
Despite Pelosis consistent railing against credit card companies, on March 18, 2008, the Pelosis bought between $1 million and $5 million (politicians do not have to report the exact amounts, only ranges) worth of Visa stock at the IPO price of $44 per share. Two days later, the stock price rocketed to $65 per share, yielding a 50% profit. The Pelosis then bought Visa twice more. By their third purchase on June 4, 2008, Visa was worth $85 per share.
How did Nancy Pelosi snag one of the most coveted initial public offerings in history? The facts are still emerging. Yet according to Schweizer, corporations that wish to build congressional allies will sometimes hand-pick members of Congress to receive IPOs.
Pelosi received her Visa IPO almost two weeks after a potentially damaging piece of legislation for Visa, the Credit Card Fair Fee Act, had been introduced in the House.
(Excerpt) Read more at biggovernment.com ...
Amen! After all, they are just politicians of a similar stripe. They are just trying to appeal to us or the conservative side/moderates.
All belong to the same corrupt group (is it really all about money?) My opinion - about 1 in 10 are NOT corrupt.
That means that we have to continue to throw out about 95% of Congress and Senate folks.
Who’s going to change the law?
Oh, the very people who are being investigated for unethical behavior related to that law. OK. When monkeys fly out. . .
That’s like asking a chronic drunk driver if he’d like to change the drunk driving laws.
There is no controlling legal authority until We the People decide to take matters into our own hands and that’ll never happen as long as we keep getting our MTV and Kim Kardashian fix.
It is hard to clean house when you ride the broom.
and if you think the MSM will report this you are dreaming.
It might get a brief on a Friday night and nothing else, anyone bringing it up will be told its “old news”
Baltimore is in Maryland; Not Delaware
Wonder if those profits make her a member of the 1 % club ?
Wow!!! Her San Francisco constituents will vote her out for sure next Election. (/sarc.)
Not just the DNC, but at every level of the cesspool we call our federal government.
“Whos going to change the law?
Oh, the very people who are being investigated for unethical behavior related to that law. OK. When monkeys fly out. . .
Thats like asking a chronic drunk driver if hed like to change the drunk driving laws.
There is no controlling legal authority until We the People decide to take matters into our own hands and thatll never happen as long as we keep getting our MTV and Kim Kardashian fix.”
Cool. And what do you suggest we do about it?
Its really not hard to spot the honest ones. They’re the ones that the beltway buddies are always trying to push out of power.
they are, just like zer0 is exempt from revealing anything of his past
Baltimore is the largest city near Delaware.
Isn’t this the thing the OX squatters are infuriated about?
Being raped by the Machine?
Unless it’s a RAT doing the raping, of course.
If a 'rat can commit a really big felony, they really can put their careers into the fast lane. Lets see, something, oh... I don't know, perhaps like a felony like homicide or, alternatively, rape.
[eg, homicide by drowning or rape when the opportunity arises at a hotel]
I am sure Nancy is as open in her own affairs as she was in the passing of Obamacare.
Bwahahahahahahahhaa, what a joke.
Baltimore is in Maryland.
Did you mean Wilmington?
I lived in Baltimore. But you worked for USPS, and it sounds like you know for sure that credit card hanky panky occurs, and with the active help of the Postal Service.
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