When Nancy Pelosi finally stepped down as Speaker of the House, she gave a speech applauding herself. She wants us to believe she’s infested Congress for nearly 40 years, because she was serving the public. Nobody sticks around the government for that long, just to help other people.
We all know that old Nance was helping herself. She gathered up tremendous power as a lifelong congresswoman. And she used that power and knowledge to make herself filthy rich. And now, it looks like some of her scheming is coming back to haunt her. Because news is coming out that she is guilty of insider trading.
Congresswoman and former House Speaker Nancy Pelosi and her husband sold 30,000 shares of Alphabet, the parent company of Google, in a transaction worth up to $3 million, weeks before the Justice Department filed an antitrust lawsuit against the tech giant.
From Dec. 20 to Dec. 28, the Pelosis sold $1.5 million to $3 million in Alphabet stocks, making an undisclosed profit, according to a federal filing. At the time, those stocks were trading for $86–$89 a share, according to Google Finance…
About one month later, on Tuesday, the Justice Department and eight state attorneys general filed an antitrust lawsuit against Google for allegedly monopolizing advertisements across the internet.
While Google’s stock is worth $95.22 on Thursday, shares fell nearly $5 after the government announced the lawsuit. [Source: Just the News]
If you knew something about a company and decided to sell stock because of it, you’d go to jail for “insider trading.” But a congresswoman–who has access to information you do not–can do the exact same thing and not face a whisper of trouble.
And this is a doozy. Nancy and her husband (who conveniently is a career investor) sold off $3 million worth of Google stock just days before the DOJ filed a lawsuit against them. There is no way Pelosi did not know the DOJ would do this. As Speaker, she was given briefings from various government agencies.
She and her husband would have known that, after news of the lawsuit came out, Google’s stock would have dropped. So, they sold the stock before that, to avoid losing money. That is the textbook definition of insider trading. But corrupt politicians avoid prosecution, because they made insider trading legal… for only themselves.
Must be nice, huh? This is why so many Americans hate Congress. These people are supposed to represent our interests–putting us first. But Nancy and her buddies only care about themselves. Why is Pelosi and her husband worth millions? Because she used her connections and influence in Washington to get them that way.
This is corrupt plain and simple. And it’s been going on for decades in D.C. Until this kind of thing is ended, and people like Pelosi are prosecuted, Americans will continue to distrust the government.
Author: Max Davis