Rep. Nancy Pelosi (D-CA) and her husband Paul have apparently channeled their unprecedented “good luck” and somehow managed to accurately “predict” that Visa’s share prices would plummet.
Over the years, Pelosi and her husband have made millions off of the stock market.
Paul Pelosi is so successful as a market trader that his apparent crystal ball-like ability to predict the markets far outpaces even Wall Street’s finest.
Of course, being “lucky” while trading the markets is not a crime.
However, Pelosi’s unusually high success rate has led to insider trading claims.
For those unfamiliar with insider trading, Investopedia reports:
Insider trading involves trading in a public company’s stock or other securities by someone with non-public, material information about the company.
Insider transactions are legal if the insider makes a trade and reports it to the Securities and Exchange Commission, but insider trading is illegal when the material information is still non-public.
The Pelosis have, yet again, just benefitted from another incredibly “lucky” stock market decision just before a massive lawsuit dropped from the Biden-Harris administration’s Department of Justice (DOJ).
Paul Pelosi’s purey “coincidental” decision to sell $500,000 in Visa stock right before the DOJ announced the lawsuit was the kind of move that Wall St traders could only dream of.
On Tuesday, the DOJ filed an antitrust lawsuit against Visa.
Federal prosecutors are accusing the credit card giant of using its massive financial advantage to monopolize the market.
Visa’s stock plummeted by 5.5% based on the lawsuit.
However, the Pelosis very fortuitously sold more than half a million dollars worth of the stock just weeks before the legal action was revealed.
An account run by entrepreneur Christopher Josephs tracks and reports stock trades from the Pelosis.
Josephs noted the sale of the stock on July 3.
The DOJ didn’t reveal how long the department had been preparing the lawsuit.
Pelosi argues that she is not involved in insider trading because it is her husband who makes the trades.
According to corporate media “fact-checkers,” Pelosi cannot be accused of insider trading because she doesn’t discuss the trades with her husband in private.
Of course, if the word of a “fact-checker” – a failed journalist who can’t get work as a real reporter – is to be trusted, Nancy Pelosi would never have a private conversation with her husband about a lawsuit that could cost their family tens of thousands of dollars.
A comment from a spokesperson for Nancy Pelosi didn’t appear to directly address the accusation, either.
The statement to the New York Post read:
“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”
A former securities attorney told the Post that the trades didn’t necessarily point to insider trading.
“Before public opinion judges Pelosi unfairly, it is important to determine who engaged in the transaction on her behalf as well as whether it was part of a broader change of her portfolio,” said Ron Geffner.
The Pelosis have an estimated net worth of more than $230 million.
As Speaker of the House, Nancy Pelosi earned $223,500 annually and now earns $174,000 a year as a member of Congress.
Of course, your humble narrator is not suggesting the Pelosis are guilty of illegal insider trading.
It must just be another one of those amazing “coincidences” that always seem to benefit powerful Democrats.
