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2021-10-14 Government Corruption

Just how did Nancy Pelosi build a $120mn fortune on a $223,000 annual salary?

[RT] The Democrat House speaker has become the latest member of Congress to show the rest of us how to make money on Wall Street. But please don’t put it down to insider trading, because that’s illegal.

In case you missed it, Speaker Nancy San Fran Nan Pelosi
Nancy <q>San Fran Nan</q> 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...
(D-Caliphornia, an impregnable bastion of the Democratic Party,) is being panned by the Twitterverse, if not by regulators and ethicists, for a series of stock transactions conducted by her husband Paul.

"The week before the House Judiciary Committee voted on reigning in big tech," reported Fortune in July, "Speaker Nancy Pelosi’s husband exercised a bullish bet on Google-parent Alphabet, in a timely transaction that netted him $5.3 million."

See? It’s really easy.

All you have to do is become a party leader in Congress with access to information that no one else has, and bingo, you too can become a dot-com, or Big Tech, or biotech millionaire, by trading on that insider information.

Of course, that’s not really how it happened in this case. According to a spokesperson for Pelosi: "The speaker has no involvement or prior knowledge of these transactions." That hasn’t stopped some voters expressing, well, some skepticism.

Posted by Fred 2021-10-14 01:01|| || Front Page|| [11134 views ] Top

#1 It was back in high school when I noticed that it did not make economic sense to spend millions of dollars to get a job that paid $100K a year. Kinda sorta made me think something else might be going on. Know what I mean? *nudge*nudge*wink*wink*

Posted by SteveS 2021-10-14 01:31|| 2021-10-14 01:31|| Front Page Top

#2 I remember years ago that congress made sure they were above the insider trading laws made for us pee-ons. Why doesn't the Supreme Court require the congress to be subject to all laws they write for the riff raff? Time to fire those who think they're above the laws they command of others including the Supreme Court.

Posted by Count Galeazzo Flomoque6504 2021-10-14 03:23|| 2021-10-14 03:23|| Front Page Top

#3 “While lawmakers who violate the STOCK Act face a fine, the penalty is usually small — $200 is the standard amount — or waived by House or Senate ethics officials,” said Businessinsider.

So it isn't a fine, but rather a trading fee. How very innovative.

Posted by Besoeker 2021-10-14 05:02|| 2021-10-14 05:02|| Front Page Top

#4 Forget Warren Buffett. I'm tailoring my portfolio to match Nancy's. She could make another fortune selling stock tips on Wall Street.

Posted by Tom 2021-10-14 08:54|| 2021-10-14 08:54|| Front Page Top

#5 /\ What you REALLY wsnt is Nancy's tip line. I'm convinced her loyalty base is market driven.

Posted by Besoeker 2021-10-14 09:18|| 2021-10-14 09:18|| Front Page Top

#6 Buffett's dad was a congressman.

Most of his best stock picks have involved either oligopolies or legislative arbitrage, in both cases, companies that took advantage of favorable legislation or regulatory treatment. Tobacco, newspapers, insurance and financial companies .... Another more recent example: scooping up the railroad stocks during the period when the Democrats were killing the Keystone pipeline.

Dad taught young Warren well.

Posted by Patriot 2021-10-14 09:25|| 2021-10-14 09:25|| Front Page Top

#7 Buffett has held RR stocks for many years. The Keystone Pipeline thorn in his side has been successfully removed.

Posted by Besoeker 2021-10-14 09:33|| 2021-10-14 09:33|| Front Page Top

#8 Just how did Nancy Pelosi build a $120mn fortune on a $223,000 annual salary?

Hillary taught her cattle futures?

Posted by Frank G 2021-10-14 12:36|| 2021-10-14 12:36|| Front Page Top

#9 What you REALLY wsnt is Nancy's tip line. I'm convinced her loyalty base is market driven.

Catch the story of the trading group whose sole stock analysis is betting on the Pelosi Purchases? They are doing quite well.

Posted by swksvolFF 2021-10-14 13:32|| 2021-10-14 13:32|| Front Page Top

#10 ^ Do they have an ETF?

Posted by Patriot 2021-10-14 13:44|| 2021-10-14 13:44|| Front Page Top

#11 https://housestockwatcher.com/summary_by_rep/Hon.%20Nancy%20Pelosi

Posted by swksvolFF 2021-10-14 13:54|| 2021-10-14 13:54|| Front Page Top

#12 Even NPR has a story on it.

Posted by swksvolFF 2021-10-14 14:00|| 2021-10-14 14:00|| Front Page Top

#13 Obrigado!

Posted by Patriot 2021-10-14 14:10|| 2021-10-14 14:10|| Front Page Top

#14 Prego.

Even NPR has a story on it.

Better way to word that without sounding snotty, because the story is being avoided, is that it is so painfully obvious, NPR had to put their take on it.

Posted by swksvolFF 2021-10-14 14:17|| 2021-10-14 14:17|| Front Page Top

#15 Fentanyl.

Posted by Abu Uluque 2021-10-14 15:22|| 2021-10-14 15:22|| Front Page Top

#16 $120 million is so last year $315 million.

Posted by Glogum the Low-priced4647 2021-10-14 15:28|| 2021-10-14 15:28|| Front Page Top

#17 Like the Clintons while in Arkansas.

Posted by JohnQC 2021-10-14 16:58|| 2021-10-14 16:58|| Front Page Top

#18 Insider tips via big tech lobbyists of course.

Posted by Ebbomoger Speaking for Boskone4589 2021-10-14 21:08|| 2021-10-14 21:08|| Front Page Top

09:43 Mullah Richard
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