Over the past severla months, the issue of insider trading by members of Congress has come under a microscope.
People who serve in Congress have the ultimate insider information. They know which issues and legislation are going to have a serious impact on the market and drive prices up or down.
Nancy Pelosi and her husband are suspected of using this kind of knowledge to builkd their multi-million dollar fortune.
Now there is a new example of this.
As the Democrats are pushing their green agenda, which includes the sale of electric cars, Pelosi’s husband has bought millions worth of stock in Tesla. How is this not a conflict of interests?
The Daily Caller reports:
Pelosi’s Husband Buys $2 Million In Tesla Shares As Democrats Push Green Energy Handouts
House Speaker Nancy Pelosi’s husband purchased 2,500 shares of Tesla stock amid Democrats’ push for increased green energy spending.
Paul Pelosi, the Democratic House leader’s millionaire husband, purchased the tranche of Tesla stock on Thursday, when the company’s share price reached about $872 per share by the end of day, according to congressional filings published Monday. Pelosi bought the shares, worth roughly $2.18 million at the time, at a strike price of $500 per share.
Since Paul Pelosi’s purchase, Tesla’s share price increased nearly 19% to over $1,036 a share, making his tranche worth nearly $2.6 million.
In December 2021, Nancy Pelosi defended members of Congress who traded stocks despite the potential ethics concerns raised by such activity. She said lawmakers should, like the average American, be allowed to participate in the free market.
If this isn’t insider trading, what is?
Nancy Pelosi’s husband just bought $2.2 million worth of Tesla stock https://t.co/mrgLNvuhUP
— Politics Insider (@PoliticsInsider) March 23, 2022
— Daily Wire (@realDailyWire) March 23, 2022
Democrats want to mandate EVs. Democrat leader buys 2 million shares of EV company. Get the picture? https://t.co/hrotU5OT2T
— American Energy Alliance (@AEA) March 23, 2022
If you did this, you’d be in jail.