House Speaker Nancy Pelosi (D-CA) was asked in a press conference earlier this month whether members of Congress should be allowed to trade individual stocks, despite often having access to insider information.
Pelosi was all in favor of it, saying “We’re a free-market economy” and that members of Congress “should be able to participate in that.”
Turns out that within a few days of that, Pelosi and her husband Paul bought millions in call options for Google, Salesforce, Roblox, and Disney stocks.
The Pelosi family’s trades this month include Google and Salesforce call options worth between $500,000 and $1 million each, as well as Roblox call options valued at between $100,000 and $250,000. The duo also bought up between $250,000 and $500,000 in calls for chipmaker Micron Technology and between $100,000 and $250,000 of Disney call options in disclosures that were earlier reported by Congresstrading.com.
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Paul Pelosi runs Financial Leasing Services, a real estate and venture capital investment and consulting firm. In recent years he’s made big-money bets on companies his wife is supposed to regulate, including Amazon, Apple, and Google.
Some are raising questions about whether Pelosi is slow-walking bipartisan legislation that could adversely impact tech firms. So that puts an even sharper question on her buying tech shares. Folks on both sides of the aisle have called for banning members of Congress from trading in individual stocks, including Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Elizabeth Warren (D-MA).
But Pelosi is not in Congress because she’s getting rich, mind you; she’s there because she cares so much about the poor and wants to work on their behalf. No, seriously, that’s what she claims.
Here’s a flashback to how CNN’s Wolf Blitzer chided her about needing to help the poor, and she kept insisting, “We [Democrats] represent them.” This clip is about as full of it as you can get.
“Have you fed them?” Pelosi demanded. “We feed them,” she claims. No, you don’t feed them. You keep them poor. Pelosi doesn’t represent the poor in the slightest; what she cares about is her power, how much she’s pulling in, and whether or not her designer freezers are packed full of designer ice cream. And look how disturbed she gets with Blitzer because, for once, he’s not bending over completely for her.
But this is what she’d like people to think Democrats are about, that they’re so caring. It’s all a shell game. It’s like why she’s so focused on Jan. 6 — it’s because that’s all she has to try to distract from what a horrible mess Joe Biden and the Democrats have been. She knows Americans are about to hand her a huge defeat in the midterms, and that’s all she has left with which to try to attack Republicans. That’s pretty poor ammunition, she knows she’s about to lose her power and is doing everything she can to hold onto it. But people have eyes — and they’re about to hand Pelosi a message that she wouldn’t soon forget.