Nancy Pelosi Making Millions Trading Stocks of Companies She Regulates

Nancy Pelosi Making Millions Trading Stocks of Companies She Regulates. By Glenn Greenwald.

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. …

Close to 75% of the Pelosis’ stock trading over the last two years has been in Big Tech … 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.

To underscore the towering conflict of interest at the heart of Speaker Pelosi’s self-enrichment, consider the company in which the Pelosis traded most often: Apple. …

On June 22, The New York Times reported on “a forceful and wide-ranging pushback by the tech industry since the [antitrust reform] proposals were announced this month.” In particular, “executives, lobbyists, and more than a dozen think tanks and advocacy groups paid by tech companies have swarmed Capitol offices, called and emailed lawmakers and their staff members, and written letters arguing there will be dire consequences for the industry and the country if the ideas become law.” But one of the most important steps taken against these bills was a personal call placed by Apple’s CEO directly to Pelosi …

Sources who refused to be identified … confirmed the rather crucial fact that Pelosi was having personal, private conversations with the CEO of a company in which she and her husband were heavily invested and off of which they were making millions of dollars in personal wealth. And Pelosi, according to the report, asked Cook what changes were needed to avoid harming Apple and other Silicon Valley giants.

Indeed, all five of the Pelosis’ most-traded stocks over the last two years just so happen to be the five Silicon Valley giants that would be most affected by pending legislation.

Leftist Nancy Pelosi is using the system to become mega-rich so she can have round-the-clock security and comfort. Meanwhile, she uses the US military to transport and resettle millions of illegal third world immigrants all over the US, to swell the voter rolls under her new HR1 voting regulations. Her gain, your pain.