Politics

Pelosi Makes Millions On Insider Trading

Info from your tax dollars.

Image Credit: YouTube Screenshot

The Pelosi family has become much richer as of late. Financial geniuses? Perhaps. But maybe there’s another reason. Former top Republican staffer Shay Hawkins has an answer and a view.

Hawkins: House Speaker Nancy Pelosi is arguably the most powerful person on earth. President Joe Biden has failed, internationally and domestically, to keep Americans safe or help us succeed. Seventy-five percent of Democrats want him to step aside in 2024. Vice President Kamala Harris is less popular than Biden (only 6% support her as the 2024 replacement for Biden) and she is viewed as incompetent, by a Biden administration that we all view as incompetent. Therefore, the American policy agenda is set and implemented by Speaker Pelosi, second in the line of succession, but without question the true leader of the ruling Democratic Party.

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The person who is driving the economic policies of the world’s largest economy should not be trading individual stocks, and neither should the other 534 members of Congress.

 

On July 26, Pelosi’s husband sold over $4 million worth of shares in semiconductor company Nvidia (NASDAQ: NVDA). He acquired the shares using a derivative instrument that allowed him to purchase up to $5 million worth of NVDA if the price of the stock underlying the instrument hits a certain level. Meanwhile, on July 28, the U.S. House passed the CHIPS and Science Act to provide incentives for companies to manufacture semiconductors in the U.S. Although NVDA will not benefit directly from the incentives, the bill is designed and expected to grow the entire U.S. semiconductor industry. The derivative instrument he used to get access to the shares was exercised during the previous week as the bill was being deliberated, and when the trade came under public scrutiny the shares were sold at a loss before the bill passed.

On a given day there are scores of policy initiatives floating around Capitol Hill, any of which could affect industry prospects and the prospects of individual companies in different ways. Any member of Congress would be acutely aware of the effects of a piece of legislation, if for no other reason because industry advocates communicate the effect directly to members when lobbying for, or against, legislation. Members of Congress know the probability of legislation passing, the timing of passage, and the impact on companies. The information reaches members through professional staff, advocates, constituents, and party leadership. The knowledge can be used to buy stock in companies with bright prospects, sell stock in companies with bleak prospects, etc.

Despite the potential for insider trading, Pelosi has opposed a ban on individual stock trading. She told reporters back in December “because this is a free market and people – we are a free market economy.” “They should be able to participate in that.” This is laughable. Setting aside the fact that no single individual has done more to undermine the free-market economy than Pelosi, the argument fails because members’ participation in the economy is already limited in many ways. For example, members are prohibited from earning more than about $30,000 above their $174,000 salary with certain exceptions.

I’m not arguing that aiding companies, harming companies, or trading on inside information is pervasive in Congress. I am arguing that member stock trades add to a perception of corruption in Congress. A recent poll initiated by Convention of States Action, found that 76 percent of voters believe that members and their spouses have an “unfair advantage” in the stock market. The poll found that 70 percent of Democrats, 78 percent of Republicans, and almost 80 percent of independents say members of Congress should not be allowed to trade stocks…

Members of Congress can participate in the free market economy as Pelosi suggests, but they should do so through investment vehicles like mutual funds and blind trusts that remove temptation and eliminate the perceived unfair advantage that concerns so many Americans.

David Kamioner
meet the author

David Kamioner is a veteran of U.S. Army Intelligence and an honors graduate of the University of Maryland's European Division. He also served with the Pershing Nuclear Brigade and the First Infantry Division. Subsequent to that he worked for two decades as a political consultant, was part of the American Red Cross Hurricane Katrina disaster relief effort in Louisiana, ran a homeless shelter for veterans in Philadelphia, and taught as a college instructor. He serves as a Contributing Editor for LifeZette.

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Fred LeMaster
Fred LeMaster
1 month ago

As Per This Report, Missy And Mr. P. Pelosi sr., Had Illegal Insider Information, Which Is CHEATING, Just Like How #46 Became The Next US President, Where A Whole Lot Of Lefties Illegally Crossed State Boundary Lines, To Vote Illegally Inside Another State That They Don’t Even Live In, And Voted In The State That They Do Live In = More Than Just ONCE, Practiced Stuffing Those Ballot Boxes With Legally Dead Americans Names And All Of Those Illegal Foreign Aliens Names (The Last Mentioned Never Donated Any Of Their Illegally Working Pay To The US IRS, Where These IFA’s Are NOT Legal Citizens/Immigrants Of The USA, Inside The USA’s Very Own Boundaries), As Per That Cherry On Top Of That Illegal Banana Split Desert And Illegal Treat!!!

Fred LeMaster
Fred LeMaster
1 month ago

It would Very Refreshing To Know About All Of The Left Side Of The US Political Equation’s Illegal Actions, Since That Never Vetted #44 = The LIAR And Chief, Who Started His Questionable US Political Career Back In 1997 AD, When He Questionably Bought That Illinois Legislature Seat, Which #44’s Very Own Half Brother Would Definitely NOT Trust That Half Brother Of His, In The 1st Place!!!

Last edited 1 month ago by Fred LeMaster
T.Dayton
T.Dayton
1 month ago

The House did pass some sort of limits recently to insider activity but SPOUSES were specifically excluded, it only applies to the member, so the Pelosi scam could continue. I am sure that Queen Nancy would swear on a stack of bibles that she never told hubby to buy anything but that would not include musing that “if someone were to buy such and such they might really profit when we pass XYZ legislation”.

Fred LeMaster
Fred LeMaster
1 month ago
Reply to  T.Dayton

I don’t like informing this to you, but you are wrong, about this certain bill, it goes against the whole family, which means it goes against US Congressional Members, like Missy Nancy “The Hoarder Of Her Favorite Liquor And Spiked Ice Cream” Pelosi, Her Hubby Mr. Paul Pelosi sr. And Even Her US FBI Investigated Son = Mr. Paul Pelosi jr. Also! I Sincerely Hope That The US FBI Would Start Getting Very Serious Concerning jr.’s Illegal Real Estate Scandal, In Which jr. Was Caught Bribing A Real Estate Agent = ($1,500 Per Month, From The Early 2000’s AD, To Persuade That Certain Real Estate Agent To Close His Eyes From A Whole Lot Of Safety Violation’s) For A Certain San Francisco Property = 1312 Utah Street, From Where Missy Pelosi And Her Hubby Paul sr. Used To Patronize, From The Early 1980’s Thru The 1990’s Herbal Clinic, Which Was Owned By jt.’s Ex-Girlfriend, A Ms. Nicole Bulick’s Father, Who Is Still Most Probably A Herbal Doctor At That Clinic! Because Ever Since That Property Had Fallen Into Des-Repair, According To BBC News Report Of Jan. 28, 2022 AD! That Property Fell Into Dis-Repair, It Used To Be A Music Venue, Then A Motel, Then It De-Graded Even Farther, To A Rats Nest = A DUMP SITE!!!

Tom Pernia
Tom Pernia
1 month ago
Reply to  Fred LeMaster

You are wrong and majority of Americans agree.

Tom Pernia
Tom Pernia
1 month ago

When Republicans take over the house and senate she will be investigated for this.