Pelosi Makes Up to $30 Million on Insider Stock Trades
Pelosi portfolio has often outperformed the S&P 500
House Speaker Nancy Pelosi decries corporate greed, but that hasn’t stopped her from raking in as much as $30 million personally from insider stock trades on the very Big Tech companies she oversees in Congress.
No surprise then that she is also blocking bipartisan efforts to prevent members of Congress from engaging in individual stock picks, according to a New York Post report.
After decades in public service, Pelosi has amassed an estimated net worth of anywhere between $40 million and $252 million, and recently her family invested millions in call options — betting that the stock price would go up — on such companies as Google, Salesforce, Micron Technology and Roblox.
At the same time, her critics noted that Pelosi was helping those companies by “slow-walking” Congressional efforts to rein in Big Tech.
Pelosi has pushed back against such claims, asserting that members of Congress should be able to engage in the “free-market” and that there would be “no” conflict of interest from doing so, even if a member has insider information on how new laws or regulations could impact the company’s performance and its stock price.
During a press conference in mid-December, Pelosi was asked if she had any “reaction” to 49 members of Congress violating the Stop Trading on Congressional Knowledge Act (or STOCK Act) and if members of Congress should be banned from trading individual stocks while serving.
Pelosi said “no, to the second [question]. We have a responsibility to report on the stock, but I’m not familiar with that five-month review, but if people aren’t reporting, they should be. We are a free-market economy; they should be able to participate in that.”
The speaker and her husband may be among the world’s top stock pickers, with federal disclosure reports indicating they beat the S&P 500 index two years in a row, by 4.9% in 2019 and a shocking 14.3% in 2020.
Reacting to Pelosi’s comment, former director of the United States Office of Government Ethics, Walter Shaub, tweeted, “it’s a ridiculous comment! She might as well have said ‘let them eat cake.’
“Sure, it’s a free-market economy. But your average schmuck doesn’t get confidential briefings from government experts chock full of nonpublic information directly related to the price of stocks,” he said.
CONTINUE READING AT NEWSMAX
Header featured image (edited) credit: Pelosi picture & graphic/New York Post
Stay tuned to …
The Liberty Beacon Project is now expanding at a near exponential rate, and for this we are grateful and excited! But we must also be practical. For 7 years we have not asked for any donations, and have built this project with our own funds as we grew. We are now experiencing ever increasing growing pains due to the large number of websites and projects we represent. So we have just installed donation buttons on our websites and ask that you consider this when you visit them. Nothing is too small. We thank you for all your support and your considerations … (TLB)
Comment Policy: As a privately owned web site, we reserve the right to remove comments that contain spam, advertising, vulgarity, threats of violence, racism, or personal/abusive attacks on other users. This also applies to trolling, the use of more than one alias, or just intentional mischief. Enforcement of this policy is at the discretion of this websites administrators. Repeat offenders may be blocked or permanently banned without prior warning.
Disclaimer: TLB websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.
Leave a Reply