Rantburg

Today's Front Page   View All of Thu 05/22/2025 View Wed 05/21/2025 View Tue 05/20/2025 View Mon 05/19/2025 View Sun 05/18/2025 View Sat 05/17/2025 View Fri 05/16/2025
2024-01-09 Government Corruption
Nancy Pelosi's huge portfolio gains again make the case for banning stock-trading in Congress
[NYPOST] As Americans sweat over the high cost of food and gas, Rep. Nancy San Fran Nan Pelosi
Congresswoman-for-Life from the San Francisco Bay Area, born into a family of professional politicians. On-again-off-again Speaker of the House. It's not her fault when they lose, but it's her accomplishment when they win. Noted for her heavily botoxed grimace and occasional senior... uhhh... moments...
’s stock portfolio racked up massive gains in 2023.

The former speaker, a consistent high performer in the market (though she had a bad year in 2022 while under increased scrutiny over her trading), enjoyed a 65% return on her investments, reports industry news service Unusual Whales.

That’s better than most major hedge funds.

Key to her success was very "lucky" use of stock options, often a sign of trading on inside information, something members of Congress have lots of.

To let average Americans echo the gains of Democrats in Congress (and their spouses), Unusual Whales last year launched the "NANC" trading fund, pointedly named after Nancy.

In theory, various guardrails prevent blatant insider trading by members of Congress, but ethics watchdogs have raised regular red flags.

Pelosi and her husband, Paul Pelosi, have made millions off tech companies that she’s responsible for regulating. (Don’t try this at home, or you could get slapped with a prison sentence of 20 years.)

Multiple bills were put forward last year to stop or limit congressional trading, including the bipartisan "Ban Stock Trading for Government Officials Act," introduced by Sens. Kirsten Gillibrand
...Machine non-entity selected to become the successor to Hillary Clinton as Senatrix-for-Life from Noo Yawk. She is running for the Dem presidential nomination in 2020. She has no observable principles, will apparently say anything to anyone, and seemingly lacks any personality of her own....
 and Josh Hawley in late July, which went nowhere.
Posted by Fred 2024-01-09 00:00|| || Front Page|| [11132 views ]  Top

#1 Congress exempts itself from insider trading laws. Occasionally they lift the exemption to great fanfare, then it quietly comes back. Rinse and repeat.
Posted by Angstrom 2024-01-09 09:38||   2024-01-09 09:38|| Front Page Top

#2 Ultimately, they trade influence. Several of them get paid through the stock market. Biden had a different gig. From the federal worker standpoint, Fauci had several lucrative scams not based on stock trades. Other folks get book deals, honorariums and plum job opportunities. The system needs an enema.
Posted by Super Hose 2024-01-09 11:48||   2024-01-09 11:48|| Front Page Top

#3 Congress exempts itself from insider trading laws.

Social Security too. Just think if they had to live without insider trading but with Social Security.
Posted by Abu Uluque 2024-01-09 12:22||   2024-01-09 12:22|| Front Page Top

#4 #3 In middle ages we had nobility and we had commons - and the law explicitly recognized the differences.
Posted by Grom the Reflective 2024-01-09 12:42||   2024-01-09 12:42|| Front Page Top

#5 I would love to have job where I set my own salary,rules for working, and how long I work.
Posted by Rambler in Virginia 2024-01-09 13:25||   2024-01-09 13:25|| Front Page Top

17:49 magpie
15:50 Skidmark
15:50 swksvolFF
15:48 Skidmark
15:46 Skidmark
15:41 Skidmark
15:35 Skidmark
15:25 Skidmark
15:21 illeagle
14:41 Besoeker
14:16 trailing wife
14:12 swksvolFF
14:03 trailing wife
13:55 Skidmark
13:45 Silentbrick
13:40 DarthVader
13:35 swksvolFF
13:20 Skidmark
13:16 Skidmark
13:11 Skidmark
13:02 Skidmark
13:01 Skidmark
12:59 Skidmark
12:52 mossomo









Paypal:
Google
Search WWW Search rantburg.com