In one of its rare moments of usefulness, “60 Minutes” once did a segment on how members of Congress profited financially from the information they g
In one of its rare moments of usefulness, “60 Minutes” once did a segment on how members of Congress profited financially from the information they gathered in the course of their work.
The 2011 broadcast revealed that lawmakers practiced insider trading equivalent from what they learned on the job.
What was illegal on Wall Street was allowed on First Street in Washington.
In 2012 Congress overwhelmingly passed, and then-President Barack Obama signed the Stop Trading on Congressional Knowledge, or STOCK Act, to ban lawmakers from trading securities on information that was not publicly known.
Among the 417 House supporters of the bill was Democratic Minority Leader Nancy Pelosi.
But fast forward nine years and it seems, as seen so often during the pandemic, San Francisco doesn’t need to follow rules meant for others.
On Friday, the Washington Times reported that Pelosi faced criticism for dealing in Tesla stock just before President Joe Biden announced his aggressive green energy plan.
According to the Times, Pelosi’s husband, Paul, a venture capitalist, bought $1 million of Tesla stock in December, when it was priced at $640 a share. On Thursday, Tesla was trading for $838 a share, a 31 percent increase.
What happened?
Just after the Pelosis acquired the stock, the Times noted, “the Biden administration released plans to make the federal automobile fleet electric.”
But that’s only one part of the outrageous deal.
Pelosi’s financial disclosure forms indicated she maneuvered to be able to buy Tesla at $500 a share through March 2022, the Times reported. So at the moment, Pelosi can purchase Tesla stock at a 40 percent discount.
When the Times contacted Pelosi’s office for a comment, her spokesman replied that “her husband, not the speaker, made the Tesla bets and the speaker’s political relationships were irrelevant.”
John Pudner, executive director of TakeBack.org, a conservative political group that seeks to end the pay-to-play corruption in Congress, told the Times, “It’s corrupt and unacceptable for members of Congress, particularly the speaker, to trade stocks in companies affected by their votes in Congress.”
He added, “Elected leaders from all political parties should live up to a standard of ethics that ordinary Americans see as vital to the country.”
If only.
COMMENTS
It’s called INSIDER TRADING and it is a crime.
Of course, if you can steal with impunity why not. It’s amazing that the paragons of virtue are thieves. Thanks Nancy for showing the way.
She should be fired immediately. If one of us got caught we would be put under the jail weeks ago!!!!!!!
When will Nancy Pelosi be terminated from her position as speaker of the house, and then get barred from current and political positions.
She is the fair haired child…..
None of the Democrats are going to get punished for anything that they did because we allow it as the people of the United States. We have the power to say enough bet you if we all stop paying taxes for one year they would actually get hurt badly
Previous post should read “Barred from current and FUTURE political positions ” .
Martha Stuart was put in prison for insider trading why not Nancy???
It’s sad that people that try to convince you they are so wonderful are so ungodly and dishonest there’s a place for them oiling the gates of hell for there actions.
Biden was in on this too so both of them and the her husband should be behind bars for insider trading.
It is a crime they need to do the time they are no different than anyone else as a matter of fact they are worse
What is their most famous quote? Oh yes! No one is above the law. Not even the PRESIDENT or NANCY
Everybody in congress needs to be investigated for doing what the rest of us would be put in prison for . It really looks bad for so called people looking out for the poor are are taking us for a cleaning .!!!!
Nothing will ever happen to her , like like the Clintons, they can and will do anything they want to do , they’re above the law , that’s inside trading in my book, Martha Went to prison for this , but Nancy won’t mark my word , Biden will block it just like he blocked his son , nothing will ever happen with that either.
Give it up. These leading politicians will never pay for their crimes as long as people keep voting for them. It’s your own fault.
CIVIL WAR, WE THE PEOPLE, GOVERNMENT MUST GO DOWN 133 MILLION AMERICAN VOTERS
81 MILLION VOTES joe biden “AKA” PEDOPHILE
74 MILLION VOTES 🇺🇲 MR.TRUMP
THAT’S A TOTAL OF 155 VOTES DONT ADDEDS UP.
DEMOCRATS
LIBERALS
THE DEEP STATE
PUBLIC HANGING ALL MUST HANG FOR TREASON
She is evil and don’t care she needs impeached now not later she’s filthy rich and cares for no one but her family they r corrupt anyone else would go to jail
They are all crooked, maybe the Washington rioters were right in principle, but wrong in the way they were trying to get it done
Vote in 2022 to dump the Dems! They don’t know how to govern. Take from the rich to give to the richer and the middle class takes care of everybody else won’t be accepted any more.
I guess it really pays to be a politician with insider information they play under different rules than us
They need to impeach her!! She is no good! Pelosi and biden both!! They got away with stealing the election and they will KEEP getting away with everything they do….and we can thank all of our fellow Americans for voting for the post’s!!
Artgray, you are dead on!! Without voter fraud the votes are not there.
The threat of socialusm and the left is greater than the threat from COVID. Socilalism and its father communism kills the spirit and is incurable while COVID is a curable physical malady.
What about GameStop, why the shutdown….all the same thing…keep the people down as far as possible so the NEED them
Funny had anyone looked at mr trump these last four years for his illegal doings and how he ignored stipulations about his businesses….you remember the fake college! How about the 100’s of contractors in Atlantic City N J that NEVER got paid….there’s more wherever he built anything, golf courses, buildings etc. where have you people been? Blind loyalty is simply being blind to what you don’t want to believe! If Pelosi is found guilty she should go with ALL THE OTHERS WHO THE PUPLIC ELECTED TO PROTECT US ALL!
miss piggy pelousy!!!!! married couples? joint tenamcy? liar! liar! check all congressional members. pelousy needs to go