Nancy Pelosi’s husband sold Visa shares 2 months before a DOJ lawsuit — some say the trade shouldn't have been allowed
Nancy Pelosi’s husband sold Visa shares 2 months before a DOJ lawsuit — some say the trade shouldn't have been allowed
Another well-timed trade for the power couple.
So he sold them 3 months ago, at a loss, and it was well after the lawsuit was announced?
When was the lawsuit announced?
I wish there was more push back for these ghouls enriching themselves like this.
You might even refer to them as suave villains..... :D
Visa has been under intense scrutiny since for at least several months. We wouldn't up and sue Visa out of nowhere so you know Visa was being discussed for awhile. I'm curious how much of this was just paying attention, like with a surprisingly high number of "corrupt insider trades," or if it's actually corrupt.
The investigation was announced publicly a year ago.
And it should be noted that when he sold these shares, the share price was even lower than it is now after the lawsuit was announced and the stock dropped within the last few days.
For those of you in the US, the are a couple of funds which track politician's holdings and invest/digest with them. NANC is the democrat tracking one and KRUZ is the republican tracking one.
This way, you too can stick your snout in the trough.
They were both started in Feb 2023. So there isn't a long track record to go by.
In the last 12 months.
NANC has gained 40%.
KRUZ has gained 27%.
VTSAX has gained 33.8%. (Vanguard total stock index)They both have expense ratios of 0.75%.
VTSAX is 0.04%.
So you loose nearly 1% each year in management fees. That's a lot.Interesting, thanks! I'd only ever seen it as amusing (UK based so couldn't buy it anyway), but good to know how it actually stacks up. I wonder if that also means that Nancy herself would have been better to just buy an index tracker and avoid all the negative stories!
The only people who can stop politicians from being able to participate in the stock market is politicians and well…
Some of the founding fathers were even benefiting from stock and bond trading and selling.
Some of the founding fathers owned slaves. I don't think they'd have much of a problem with this
That’s incorrect. The SEC is responsible for holding Congress accountable to the insider trading laws already in place. Congress is not exempt, nor are they charged with self-policing.
https://www.congressionalinstitute.org/2018/08/16/can-members-of-congress-engage-in-insider-trading/
She probably shouldn't have.
On the other hand... "some say."
Those ghouls are at it again. Though that implies it is anything other than business as usual.
We need to know who says the trade should be allowed and fire them/vote them out.
Nancy Pelosi’s husband dumped 2,000 Visa (V) shares in July — just weeks before the payments giant was sued by the U.S. Department of Justice (DOJ) for monopolizing the debit markets.
The timely trade — which documents show was worth at least $500,000 — has once again set the rumor mill running about the former House speaker and her venture capitalist husband’s investing strategies, which have netted them an impressive nine-figure net worth over the years.
While 12 weeks is technically weeks I think it's very intellectually dishonest to refer to it as weeks before when months before is more accurate.
just weeks before the payments giant was sued by the U.S. Department of Justice
Months before to be more precise. He also sold them a year after the investigation was announced when the share price was lower than it is today, after the lawsuit was filed, so I don't see why this one example is being viewed as being so scandalous.
As an elected politician at any level you should be allowed a single family home, transportation that allows you to perform your role effectively, your salary as a politician which should be sufficient to allow poor people to take on the role of office as the sole provider for their household to live an upper middle class life style, and remaining investments should be divided in a basic assortment of mutual funds and bond funds. All other sources of income should be illegal. No 2nd jobs, no lobby money, no speaking fees.
By far she is the biggest crook up there. None of these trash talking republicans have done as much harm in the name of greed as she has. Most republicans in DC are lower than Whale shit. She is at least six to seven feet lower than that. Not that she is unique in that cesspool of trash floating on top of the swamp.
Not for nothing but she's not the one that killed the law that would have regulated this, that was the Republicans. Who are in no less apt to engage in insider trading than anybody if you look at the actual numbers. She just gets more publicity for it, and as you can see from reading the article in this case it's false publicity.