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DEMOCRATS
The Stock Market Made Nancy Pelosi Rich. Now, She Wants To Ban Her Colleagues From Trading.
House speaker's fortune has grown $140 million since 2008, thanks in part to her husband's trades
House Speaker Nancy Pelosi (D., Calif.) has seen her net worth increase by $140 million since the 2008 financial crisis thanks in no small part to her husband’s fortuitous trades in companies she has worked to subsidize. Now, she's trying to pull up the ladder behind her: In what may be her final months as a member of Congress, she’s backing a proposal that would prohibit her colleagues from buying or selling individual stocks.
Federal Officials Trade Stock in Companies Their Agencies Oversee
Hidden records show thousands of senior executive branch employees owned shares of companies whose fates were directly affected by their employers’ actions, a Wall Street Journal investigation found
As Covid Hit, Washington Officials Traded Stocks With Exquisite Timing
Some sold in January 2020 when the government began mobilizing against the threat. Others bought shares as a market-rescue plan was taking shape.
Pelosi Dumped Millions in Google Stock Just before DOJ Launched Antitrust Lawsuit
Collin Rugg
@CollinRugg
REPORT: Pelosi sold $3 Million of Google stock 4 weeks ago. Yesterday, the DOJ opened a lawsuit against Google to break up their tech monopoly.
Pelosi gets a free pass for white collar crime. Anyone else would be in jail.
7:45 AM · Jan 25, 2023
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4.3M Views
Former House Speaker Nancy Pelosi (D-CA) didn’t get the welcome home she was hoping for when a heckler dropped the hammer on the Democrat congresswoman in a San Francisco restaurant.
A video of the incident emerged online and shows the heckler calling Pelosi out on numerous issues.
“Nancy, can you tell us why we have 150 billion dollars going to Ukraine when we have homeless on our streets in your own city?” the man yells at a shocked-looking Pelosi.
“Nancy, can I get some stock trading tips on how to get semiconductors in Taiwan,” he added, alluding to Nancy and Paul Pelosi’s shady stock market trades.
“Nancy, is your son involved with Hunter Biden?”
Pelosi, Whose Husband Traded Timely Stocks, Calls Justice Thomas Unethical
Paul Pelosi bought more than $1 million in Nvidia just before massive subsidies were voted on.
June 26, 2023
https://babylonbee.com/cleanArticle/pelosi-announces-bid-for-two-more-years-of-insider-trading
Nancy Pelosi was asked if insider trading should be banned for Congress members.
This is how she responded:
🚨🚨🚨 🔊
It is currently legal for member of congress to trade stocks and options based on information they learn about which companies will benefit from legislation that is likely to pass.
It is currently legal for member of congress to trade stocks and options based on information they learn about which companies will benefit from legislation that is likely to pass.
Several establishment members of Congress were among the top lawmakers to successfully trade stocks in 2023, a report by Unusual Whales found Tuesday.
The findings raise concerns that many members of Congress trade stocks based on information unavailable to the public.
Some of the most notable establishment members to beat the market were:
Rep. Dan Crenshaw (R-TX) — up 38.2 percent
Rep. Nancy Pelosi (D-CA) — up 65.5 percent
Sen. Mitch McConnell (R-KY) — up 18.1 percent
Rep. Dan Goldman (D-NY) — up 52.8 percent
Rep. John Curtis (R-UT) — up 25.3 percent
The top trader in Congress was Rep. Brian Higgins (D-NY) from the Buffalo area. Higgins was first elected in 2005 and sits on the House Committees on the Budget and Ways and Means.
Rep. Brian Higgins (D-NY) — up 238.9 percent
S&P Index was only up about 24 percent
... Congressional Democrats’ stock returns beat the S&P 500 by seven points in 2023, the report found:
Democrats up seven points (31 percent up).
Republicans did not beat the S&P, falling short by 6 points (18 percent up).
Beating the S&P is very difficult for stock traders due to the challenge of regularly identifying stocks that will gain more than the S&P...
“The Unusual Whales Democratic ETF, which trades under the symbol ‘NANC’ in a nod to former House Speaker Nancy Pelosi, has surged 30% since its launch on February 7, 2023.
“That compares to a gain of 24% for the S&P 500 over the same time period.”
Investopedia explains what an “ETF” is.
The outlet reports:
An exchange-traded fund (ETF) is a basket of securities that trades on an exchange just like a stock does.
ETF share prices fluctuate all day as the ETF is bought and sold; this is different from mutual funds, which only trade once a day after the market closes.
Business Insider reports that the particular ETF referred to above – the one that trades under NANC – “tracks the trades of Democrats in Congress and their spouses.”
Patrick says
One could build a stock growth fund that watches and buys whatever stocks these folks buy.
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