Nancy and Paul Pelosi Making Millions in Stock Trades in Companies She Actively Regulates, by Glenn Greenwald

How the Corruptocracy operates, from Glenn Greenwald at greenwald.substack.com:

The Speaker, already one of the richest members in Congress, has become far richer through investment maneuvers in Big Tech, as she privately chats with their CEOs.

U.S. House of Representatives Minority Leader Nancy Pelosi (L) and businessman Paul Pelosi attend the Clive Davis and Recording Academy Pre-GRAMMY Gala and GRAMMY Salute to Industry Icons Honoring Jay-Z on January 27, 2018 in New York City. (Photo by Nicholas Hunt/Getty Images)

House Speaker Nancy Pelosi (D-CA) is the sixth-richest member of Congress, according to the most recent financial disclosure statements filed in 2019. As the California Democrat has risen through party ranks and obtained more and more political power, her personal wealth has risen right along with it. Pelosi “has seen her wealth increase to nearly $115 million from $41 million in 2004,” reports the transparency non-profit group Open Secrets. Even by the standards of wealth that define that legislative body — “more than half of those in Congress are millionaires” — the wealth and lifestyle of the long-time liberal politician and most powerful lawmaker in Washington are lavish.

And ever since ascending to the top spot in the House, Pelosi and her husband, Paul, keep getting richer and richer. Much of their added wealth is due to extremely lucrative and “lucky” decisions about when to buy and sell stocks and options in the very industries and companies over which Pelosi, as House Speaker, exercises enormous and direct influence.

The sector in which the Pelosis most frequently buy and sell stocks is, by far, the Silicon Valley tech industry. Close to 75% of the Pelosis’ stock trading over the last two years has been in Big Tech: more than $33 million worth of trading. That has happened as major legislation is pending before the House, controlled by the Committees Pelosi oversees, which could radically reshape the industry and laws that govern the very companies in which she and her husband most aggressively trade.

Continue reading→

2 responses to “Nancy and Paul Pelosi Making Millions in Stock Trades in Companies She Actively Regulates, by Glenn Greenwald

  1. Harry's Pretzel Mug

    This is why “gov’t” officials should be prohibited from trading in the stock market while doing ‘public service’. The irony of it all never ceases to amaze me.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.