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Nancy and Paul Pelosi are making a lot of money by trading a lot of lies

Even though it's mostly a marketing trick, Democrats have made a name for themselves as the party of the poor. Bernie Sanders is a socialist, but he doesn't live much like a socialist. He has a town house, a vacation home, and all the comforts of the bourgeoisie, even though he says he is fighting for the proletariat.

There are many examples like this. In the 1970s, when he was still alive, Teddy Kennedy, a senator from Massachusetts and a liberal icon, backed forced busing even though he sent his own kids to private school. The latest example of "freedom for me but not for you" is the case of Paul Pelosi, the 80-year-old husband of Nancy Pelosi, the 80-year-old leftist speaker of the House of Representatives.

Disclosure forms show that Paul Pelosi has been doing very well in the stock market over the past few years, and it's possible that it's not just because he has a natural knack for predicting market swings. His latest home run was when, on June 17, he used call options to buy between $1 million and $5 million worth of shares of Nvidia, a popular company that makes computer chips.

Again, his timing was perfect. He made the trades just as Congress was getting ready to approve tens of billions of dollars in corporate welfare subsidies for the US semiconductor industry. That's good news for Nvidia and investors like Paul Pelosi. Since his bet, the stock price has gone up by almost 10%. Based on what I know about math, he could have quickly made $500,000.

This is one of many times Pelosi has profited greatly from the stock market.
Paul Pelosi should have pocketed at least $500,000 in his recent investment into Nvidia.
Bruce Glikas/FilmMagic

Paul Pelosi might know a thing or two about how to trade stocks. Or maybe he's just a genius, like Hillary Clinton, who years ago said that reading The Wall Street Journal helped her make a lot of money trading cattle futures that most people didn't understand.

One problem with giving Paul Pelosi the benefit of the doubt is that enough of his winners involve companies that appear to have been benefiting from legislation that his wife, as the powerful lefty house speaker, has a hand in.

Ummm . . .

Paul and Nancy have been married for going on 59 years. He has been with Nancy all the way to the top of the Democratic Party leadership, where she is now. His successful career as an investor in Silicon Valley has helped her in many ways.

This includes his recent half million gains from Nvidia.
Some of Paul Pelosi’s winning stocks involve companies that appear to have been benefiting from legislation that his wife helped pass.
AFP via Getty Images

His trades are her trades

We know how good Paul Pelosi is at the stock market because members of Congress are required to tell the public about their investments. Since he's married to Nancy, his trades are considered her trades under the rules.

It also explains why Nancy Pelosi is one of the richest members of Congress, with an estimated net worth of more than $100 million and an annual salary of about $200,000.

The powerful couple has a vineyard in the prestigious Napa Valley area and enjoys many other benefits of their wealth and status. She represents a dysfunctional congressional district in and around San Francisco. This means that she often attacks people who make money while praising the poor and downtrodden, who stay poor and downtrodden while she is in office.

It's like liberalism on steroids in a limousine. Lucky for them, their support for leftist politics stops when it comes to doing business with Paul.

Paul is a longtime venture capitalist. Where is Nancy on getting rid of the carried-interest deduction, which is a controversial, anti-progressive tax break for venture capitalists that gives him and other billionaires better tax treatment?

M.I.A.

How does she feel about making sure that members of Congress or their spouses don't get an information edge, especially when it comes to market-moving laws?

Nancy is a "born again capitalist" in this case. When asked about her husband's trading last year, she said that she and her husband "should be able to take part in that."

Insider trading, or trading stocks based on important, private information, is of course a crime. People who use information they got from their job in Congress or their spouse's job in Congress are lumped together by new laws.

But most lawmakers who have been investigated for allegedly using their position to trade almost never face criminal charges. Look at the case of Republican Sen. Richard Burr of North Carolina. Lawmakers get private briefings, like Burr did before selling stock right before the pandemic shook the markets. They can and do say that the same information was circulating on the Internet or on business TV.

Because of this, a case against Paul Pelosi is probably not going to go anywhere. His timing on Nvidia may have been strange, but he could just as easily have pointed to dozens of news stories about the law from at least six months ago, which was long before he made his trades.

So it might not be against the law, but it sure looks bad. The Pelosis are powerful people who have access to information that most Americans don't have. And they don't feel bad about taking millions while Nancy Pelosi leads a party whose main goal is to show how good they are by talking about how bad capitalism is.

It should be against the law.

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