New Book to Expose Nancy Pelosi’s ‘Lucky’ Stock Market Investments

Written on by V2A, Filed under
Business, Ethics, Government, Law, Media, Politics
 28


Former Speaker of the House–and current Minority Leader–Nancy Pelosi apparently bought $1 million to $5 million of Visa stock in one of the most sought-after and profitable initial public offerings (IPO) in American history, thwarted serious credit card reform for two years, and then watched her investment skyrocket 203%.

The revelation appears in Throw Them All Out, the new book by investigative journalist and Breitbart editor Peter Schweizer, which was the focus of 60 Minutes on CBS this evening, and which is featured in this week’s issue of Newsweek.

Schweizer’s investigation of Pelosi and other members of Congress–from both parties–raises a critical question: should it be legal for lawmakers to buy stocks in companies directly affected by their legislative efforts?

In early 2008, Nancy Pelosi and her real estate developer husband, Paul, were given an opportunity to buy into a Visa IPO. It was a nearly impossible feat–one that average citizens almost certainly could never achieve. The vast majority of purchase opportunities went to institutional investors, large mutual funds, or pension funds.

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  • MR2

    Don't Piss Down My Back and Tell Me it is Raining Act – Draft

    It seems impossible to enact meaningful reform upon the congress in either the way they get elected or how they conduct "our" business. This is because politicians do not want constraints upon themselves anymore than than anyone else. And yet the so-called "we the people" who these politicians supposedly represent historically have had negligible effect in reforming the congress.

    In recognition of this, I propose this Act be enacted at a statewide level state-by-state until it becomes a defacto standard.

    Every person who wishes to run for any elected office at the City or county level or higher office in this state will be required to hold a valid license. This would also apply to anyone who is appointed to any position (even if filling a vacancy).

    1. Cost of the license will be no less than the highest cost of any other professional license within the state.
    2. Duration of the license and renewal will be for two years and expire every other odd year.
    3. Applicant must provide a certified copy of birth showing place of birth. As well as both birth parents.
    4. Applicant must provide a certified copy of citizenship and/or nationalization. As well as both birth parents.
    5. Applicant must post a bond no less than the highest cost of any other profession license within the state.
    6. Applicant must provide certification of drug testing and re-certify every six months.
    7. Applicant must provide a certified copy of their SSN.
    8. Applicant must pass a NAC criminal background check every six months.
    9. Applicant must provide proof of recall insurance.
    10. Applicant (and immediate family) must be members of the Financial Blind Trust.
    All assets beyond one years annual income will be kept in the blind trust and managed for the license holder (and immediate family)
    Redacted copies of personal tax returns and business filings for the past three years will be kept on file.
    Redacted information on all loans, bankruptcies, and etc. Will be kept for eleven years.
    Redacted information on all donations will be kept on file.
    11. Claims verifications. If the license holder wished to make a claim about their personal life, they will have to submit certified copies of documentation within 30 days. e.g. Claim of marriage must have marriage license or certificate on file, claim of military service must have DD-214, etc. on file.

  • dingbat36

    Excuse me? No one should be immune from insider trading…………Hannity had the author of this book on his show TODAY so now anyone with a brain KNOWS exactly why people who go to "serve" in congress are rich! They are serving themselves and this is exactly how they all become so wealthy when they arrive in Washington with nothing and walk away with millions. The only problem with this "TITLE" is that both sides of the aisle are doing it!! Perhaps we do need to get rid of every one of the disgusting slugs!!

  • JudyY

    Congress and no doubt the senate and most of the rest of the government has been using insider trading for years. So, in light of all that guess who went to jail. Martha Stewart! I'm not a fan of hers but it's ridiculous that she goes to jail for doing the same things our own government has been doing for years. Some one needs to be wrorking on putting them in jail.. Oh is that old rule still ineffect where you can make a citizens arrest? If so would that work on congress if we went up there.

  • SEAN MURRY

    I will take bo tox face book and use it as toilet paper.

  • Dusty1

    Queen Nancy is entitled to make as much money as she likes, because she is the Queen and we are the little people. We are here to pay attention and tribute to her because she is superior to us. She knows better than the rest of us and that is why she is in a leadership position. I'm sure she misses having an Air Force jet at her disposal. Oh well. Times are tough and we all must make sacrifices.

  • Colleen

    Another "do as I say and not as I do" example by the DC politicians.
    And they complain about big pharma, big oil, etc when THEY are the real problem.

  • guest on this planet

    She is a 1 percenter , like she needs more money . Yeah she needs it for botox and silly glue to hold her face together

  • Mr. Common Sense

    Nancy Pelosi is the queen of the swamp! Go drain yourself!

  • lyudmila

    This is quoted from Charlie Reese article "545 vs. 300,000,000 People". Please, think about it, how true.
    "Politicians are the only people in the world who create problems and then campaign against them. Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?
    Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?
    You and I don't propose a federal budget. The President does.
    You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.
    You and I don't write the tax code, Congress does.
    You and I don't set fiscal policy, Congress does.
    You and I don't control monetary policy, the Federal Reserve Bank does.
    One hundred senators, 435 congressmen, one President, and nine Supreme Court justices equates to 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country……
    Those 545 human beings spend much of their energy convincing you that what they did is not their fault.

    • Karen

      It is about time we did!

  • lyudmila

    Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.
    What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. Only The President can propose a budget. He cannot force the Congress to accept it.
    The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes.

    • Dusty1

      Exception: Executive orders. The President can, and often does, bypass Congress on some things.

  • lyudmila

    Who is the speaker of the House? John Boehner.
    He is the leader of the majority party. He and fellow House members, not the President, can approve any budget they want. If the President vetoes it, they can pass it over his veto if they agree to.
    It seems inconceivable to me that a nation of 300 million cannot replace 545 people who stand convicted — by present facts — of incompetence and irresponsibility.”
    Let us, Americans, awake from "deep soul sleep" and wishful thinking…we need clear understanding "who is Who" and what to do next to return our life to common sense and godly ways in general.
    Let us be serious and focus on solutions rather than side shows given to us by mass media – learn Newt Gingrich program and get involved in it for the sake of our great nation, and fight with motto of "Victory or Death".
    Let's freedom ring! In God we trust.

    • Dusty1

      The first two years of Obama's presidency the Democrats were TOTALLY in charge. They forced Obamacare on the country, against the will of the people, and spent like there was no tomorrow, with no checks on them. Agreed that both parties are corrupt, but the Democrats really went hog wild in '09 and '10.

  • MEG

    It sure is interesting how our congressmen/congresswomen and most everyone else in D.C working in our government leave a lot richer than when they went in. The occupiers need to relocate.

    • Dusty1

      The problem is, once they get to DC they never want to leave. Now we know why.

  • Winston

    Insider training…receiving advance knowledge which influences market factors one way or the other is criminal intent to commit fraud and must be punished regardless who is doing the act. Investing should be a level playing field but even the playmakers (stock brokers) have advantageous opportunity to trade off hours where the public does not.

  • Leslie85223

    Until someone in the Obama Administration is prosecuted and sent to prison none of the corrupt politicians will care how much they've been "exposed" for who they really are . . .

  • Guest

    Is the SEC doing anything about this? They are usually not blind to this kind of trading, and any ill gotten gains should be taken back. It is a direct conflict of law to trade on insider trading, plus Pelosi voting on things that would directly influence the price of the stock.

  • Larry

    This jest goes to show the world that our elected officials the people we trust to do the right thing are the biggest abusers of there positions and do commit crimes every day that would put the rest of us in prison for committing. I real good example is Charlie Rangel and his tax cheating he has done over the past 20 plus years which many in congress knew he was doing it and did nothing to stop him. These elected officials each and every one of them think they are above the law sense they are the ones making the laws and bills they think they are safe from the laws and bills the rest of us have to obey or go to jail.

  • Wayne

    Duh???????

  • Californian

    Why wouldn't you want to be part of the 545 individuals who work three days a week, they go home and fly Thursday's to get to their districts then fly back to DC on Monday's man can you imagine, all first class travel of course unless your Nancy and she gets her own 767 to go to San Francisco, what a life!

  • Pete0097

    Didn't martha Stewart go to jail for less than that? she has crooked Baltimore politician running through her veins.

  • buck

    I really get tired of hearing about how lucky demon rat scum is , everyone knows , even they themselves know that luck has nothing to do with theft and fraud . Its all about knowing to get away with it , not luck .

  • Stephen Russell

    Expose ALL & more, name names.

  • RNM

    The government does a Madoff like ponzi scheme with Social Security, and the people in government do insider trading just like Martha Stewart… CEOs need to go through hoops to do investments…as do other executives and traders and stock brokers…if you have access to inside info, you're frequently restricted to anything where there can be a conflict of interest… It's illegal for them…yet Pelosi and crew can do it and get away with it…

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