Pelosi slammed for selling Google stocks right before DOJ announced antitrust suit

[+OverSword]

Quote

 

Former House Speaker Nancy Pelosi, D-Calif., was slammed on Twitter Wednesday after it was reported that she sold 30,000 shares of Alphabet, Google's parent company, one month before the Department of Justice announced an antitrust investigation lawsuit against the tech giant. 

Between Dec. 20 and Dec. 28, 2022, Pelosi reported three separate transactions of selling Google stock which was first reported by the Washington Free Beacon. Each of the transactions included the sale of 10,000 shares of Alphabet and involved an amount between $500,001 and $1,000,000 and yielded capital gains of more than $200 — although it's unclear how large the profit was. 

On Tuesday, the DOJ and eight states announced a lawsuit against Google, which alleges the tech giant had a monopoly over internet search traffic and took anticompetitive action. 

 

Link

It's almost like they have psychic powers when it comes to their amazing abilities of knowing when to buy and sell certain stocks 

Edited January 26, 2023 by OverSword

[+susieice]

They all do this. Remember when Maxine Waters did it and it got denied. I think 4 Republican Reps took a lot of heat for it at that time. Diane Feinstein too. They all have insider info, I don't care who they are.

https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9?op=1

https://en.wikipedia.org/wiki/2020_congressional_insider_trading_scandal

Edited January 26, 2023 by susieice

[Sir Wearer of Hats]

The rule for thee, is not for me.

[Tatetopa]

You can't drain the swamp when both sides love the mud.

[Agent0range]

Dang.  She's a terrible trader.  Alphabet is up like $14 since she sold it....

Edited January 27, 2023 by Agent0range

[HandsomeGorilla]

Insider traders trading inside 

*surprised Pikachu face*

Guess who also won't be facing any repercussion? 

[+OverSword]

5 hours ago, Agent0range said:

Dang.  She's a terrible trader.  Alphabet is up like $14 since she sold it....

Wait until the government finds against them. 

Edited January 27, 2023 by OverSword

[WVK]

13 hours ago, susieice said:

They all do this. Remember when Maxine Waters did it and it got denied. I think 4 Republican Reps took a lot of heat for it at that time. Diane Feinstein too. They all have insider info, I don't care who they are.

https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9?op=1

https://en.wikipedia.org/wiki/2020_congressional_insider_trading_scandal

House Speaker Dennis Hastert denied Thursday that he pushed for federal funding for a proposed highway in northeastern Illinois so he and his wife could reap about $1.8 million from land deals near their home in Kendall County.

https://www.cbsnews.com/news/speaker-hasterts-land-deal-questioned/

[Myles]

15 hours ago, OverSword said:

Link

It's almost like they have psychic powers when it comes to their amazing abilities of knowing when to buy and sell certain stocks 

Par for the course for the old hag.   She has done this many times.  Did she have her husband do it for her again.   I remember her pathetic excuse.   "I didn't do it, my husband did".

[WVK]

2 hours ago, Myles said:

Par for the course for the old hag.   She has done this many times.  Did she have her husband do it for her again.   I remember her pathetic excuse.   "I didn't do it, my husband did".

Pelsoi Sells MILLIONS In Google Stock Before Gov Lawsuit | Breaking Points

https://www.youtube.com/watch?v=Aq3frwOap9c

 

[Robotic Jew]

All members of the government should be barred from investing in the stock market while in office but that will never happen. 

[Michelle]

Hawley introduces Pelosi Act banning lawmakers from trading stocks

Sen. Josh Hawley (R-Mo.) has introduced a bill that would ban members of Congress from trading and owning stocks, using the name of his legislation to take a jab at Rep. Nancy Pelosi (D-Calif.).

Hawley on Tuesday introduced the Pelosi Act — or the Preventing Elected Leaders from Owning Securities and Investments Act — renewing a legislative push to curtail stock trading by lawmakers that has failed over the last few years.

cont...

https://thehill.com/homenews/senate/3828504-hawley-introduces-pelosi-act-banning-lawmakers-from-trading-stocks/

Congress moves to ban members from trading stocks as Pelosi drops opposition

After months of resistance, House Speaker Nancy Pelosi has greenlighted a plan to ban members of Congress from trading stock, CNBC confirmed Wednesday.

At Pelosi’s direction, a House committee is drafting the rules, and the legislation is expected to be put up for a vote this year.

Several versions of a stock trading ban are also under consideration in the Senate, including one co-authored by progressive Democratic Sen. Elizabeth Warren of Massachusetts and Montana Republican Sen. Steve Daines.

cont...

https://www.cnbc.com/2022/02/09/congress-moves-towards-banning-members-from-trading-stocks.html

It seems like Pelosi might have been the straw that broke the camel's back.

 

[Sir Wearer of Hats]

2 hours ago, Robotic Jew said:

All members of the government should be barred from investing in the stock market while in office but that will never happen. 

Their spouses will just invest, it’s a very easy rule to get around.

[+OverSword]

36 minutes ago, Sir Wearer of Hats said:

Their spouses will just invest, it’s a very easy rule to get around.

Not if the rule is that while serving in congress your and your spouses portfolio is put into a blind trust for the duration of your service.

[Gromdor]

We looked the other way with the emoluments clause, we said nothing when they shot down the last bill to curb this, and we said nothing when they gutted the Congressional Ethic Office.  Seems to me that we shouldn't be complaining about what came from our own complacency.

[Sir Wearer of Hats]

31 minutes ago, OverSword said:

Not if the rule is that while serving in congress your and your spouses portfolio is put into a blind trust for the duration of your service.

Children then. 
Parents perhaps. 
They will find a way around it. It’s all theatre for the gullible.

[+OverSword]

Just now, Sir Wearer of Hats said:

Children then. 
Parents perhaps. 
They will find a way around it. It’s all theatre for the gullible.

Blind trust, no contact allowed with the person running the trust.  Failure to comply has harsh consequences.  Easy.

[+DieChecker]

22 hours ago, Agent0range said:

Dang.  She's a terrible trader.  Alphabet is up like $14 since she sold it....

I have to agree, that was close to the lowest point of the stocks price in over two years. Absolute horrible trade.

30k x 89 dollars though is about 2.7 million dollars. So, just an everyman kind of everyday trade. 

I think she DID think she was trying to get out due to the insider info, but she just isn't terribly savvy enough to make the trading look innocuous.

[Sir Wearer of Hats]

1 hour ago, OverSword said:

Blind trust, no contact allowed with the person running the trust.  Failure to comply has harsh consequences.  Easy.

So EVERYONE they know is in the blind trust? 

[+OverSword]

31 minutes ago, Sir Wearer of Hats said:

So EVERYONE they know is in the blind trust? 

No. A blind trust would be run by a licensed agent like Merrill Lynch for the duration of the term in office 

[Sir Wearer of Hats]

1 hour ago, OverSword said:

No. A blind trust would be run by a licensed agent like Merrill Lynch for the duration of the term in office 

And so they magically can!t tell a family member “better sell X, we’re about to investigate them…”?

[Agent0range]

5 hours ago, OverSword said:

Blind trust, no contact allowed with the person running the trust.  Failure to comply has harsh consequences.  Easy.

A bill was provided by the Democrats...and no action from the Republicans..

[Michelle]

I'd like to see all the bills being proposed. There is no telling what kind of loopholes or exceptions they've put in it.

 

Ted Cruz may introduce his own bill to ban Pelosi-style stock trading in Congress

Bashing Nancy Pelosi for trading stocks? Yes — that’s a party that Sen. Ted Cruz would like to join.

Cruz, a Texas Republican, is weighing the idea of introducing his own bill to ban members of Congress — among them the Democratic House Speaker from California — from the controversial practice of buying and selling individual stocks, sources told On The Money.

On Wednesday, Sen. Jon Ossoff (D-Ga.) and Mark Kelly (D-Ariz.) announced plans to introduce The Ban Congressional Stock Trading Act, which will crack down on members of Congress and their families from picking stocks, instead limiting them to more vanilla-type mutual funds and the like.

cont...

https://nypost.com/2022/01/13/ted-cruz-may-introduce-his-own-bill-to-ban-pelosi-style-stock-trading-in-congress/

[+OverSword]

2 hours ago, Sir Wearer of Hats said:

And so they magically can!t tell a family member “better sell X, we’re about to investigate them…”?

Look up blind trust

[Sir Wearer of Hats]

1 hour ago, OverSword said:

Look up blind trust

Yes yes yes… for the duration of their service, they can’t invest. 
Yay. 
Where does the blind trust stop? Children? Parents? Uncles/Aunts? What stops the insider trading? 
****ing nothing. 
This is theatre for the masses, to make it look like they’re doing something while ensuring there are enough loopholes for business as usual