During a news conference earlier this month, House Speaker Nancy Pelosi (D-CA) was questioned whether members of Congress should be permitted to trade individual stocks despite having access to insider information.
Pelosi was enthusiastic about it, saying “We’re a free-market economy” and that members of Congress “should be able to participate in that.”
REPORTER: "Should members of congress and their spouses be banned from trading individual stocks while serving in congress?"— Townhall.com (@townhallcom) December 15, 2021
PELOSI: "No...We are a free market economy. They should be able to participate in that." pic.twitter.com/2SNqSCwFEU
Turns out that within a few days of that, Pelosi and her husband Paul bought millions in call options for Google, Salesforce, Roblox, and Disney stocks.
The Pelosi family’s trades this month include Google and Salesforce call options worth between $500,000 and $1 million each, as well as Roblox call options valued at between $100,000 and $250,000. The duo also bought up between $250,000 and $500,000 in calls for chipmaker Micron Technology and between $100,000 and $250,000 of Disney call options in disclosures that were earlier reported by Congresstrading.com.
Paul Pelosi runs Financial Leasing Services, a real estate and venture capital investment and consulting firm. In recent years he’s made big-money bets on companies his wife is supposed to regulate, including Amazon, Apple, and Google.
Some are questioning whether Pelosi is dragging her feet on bipartisan legislation that may harm internet companies. As a result, her decision to invest in technology stocks becomes even more complicated. Members of Congress on both sides of the aisle, including Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Elizabeth Warren, have advocated for a prohibition on members of Congress trading in individual stocks (D-MA).
Pelosi, on the other hand, isn't in Congress to make money; she's there because she cares deeply about the disadvantaged and wants to fight on their behalf. That's what she claims, no seriously.
Here’s a flashback to how CNN’s Wolf Blitzer chided her about needing to help the poor, and she kept insisting, “We [Democrats] represent them.” This clip is about as full of it as you can get.
As we end the year once again rooting, with fingers crossed, for Nancy Pelosi to increase her nine-figure net worth with more stock bets🤞, let us recall that time she chided Wolf Blitzer for his failure to recognize how much she does for The Poor:pic.twitter.com/RZyfxOJJbA— Glenn Greenwald (@ggreenwald) December 30, 2021
“Have you fed them?” Pelosi demanded. “We feed them,” she claims. You don't feed them, no. You keep them impoverished. Pelosi doesn't care about the poor in the least; what matters to her is her power, how much money she makes, and whether her expensive freezers are stocked with designer ice cream. And look at how upset she is with Blitzer because, for once, he isn't entirely devoted to her.
But this is what she wants people to believe about Democrats: that they're all about caring. It's all a game of shells. It's the same reason she's so fixated on Jan. 6: it's all she has to divert attention away from what a disaster Joe Biden and the Democrats have been. She knows that Americans are poised to give her a crushing loss in the midterm elections, and that's all she has left to hit Republicans with. That's really lousy ammo; she's aware that her authority is about to be taken away from her and is doing everything she can to save it. People, on the other hand, have eyes, and they're going to send Pelosi a message she won't soon forget.