So, what’s this about?
Well, it seems that while Pelosi was Speaker of the House, Visa let her buy 5,000 shares of stock for $44 a share.
Within a couple of weeks, it was worth twice that.
She was given access to this stock at this low price at a time when hardly any other individual investors could get it.
She was given access to this stock at this low price at the exact same time that Visa was worrying over two pieces of pending legislation.
Funny thing how those two pieces of legislation never quite got to the full house for a vote.
Funny thing how it is the Speaker of the House who has the power to keep legislation from coming up for a vote.
Peter Schweizer is a conservative author and research fellow at Stanford University’s Hoover Institution. In his new book Throw Them All Out, he discusses insider trading by government officials. He gives nine examples where Pelosi got access to IPO deals that greatly enriched her personally. The Visa deal above is only one.
Chrissy’s Site Bites: http://news.webshots.com/photo/2218346400056011884YQLBnm
Technically, the Pelosi didn’t do anything ILLEGAL.
Schweitzer notes how often politicians come to Washington with relatively modest means and leave stinking rich. He says it’s because lawmakers ROUTINELY use knowledge they acquire through their jobs to enrich themselves.
It’s like corporate executives trading in stocks based on what they learn in their jobs, WHICH IS ILLEGAL.
Schweitzer says it’s even COMMON for lawmakers to introduce a piece of legislation just so they can then trade in the stock in that same sector!
It’s like doping horses, WHICH IS ILLEGAL.
Yet, what legislators do is NOT ILLEGAL.
Funny how it’s legislators who make these rules, isn’t it?
Officials have been considering various measures to stop the practice, including the STOCK Act, which has attracted wide support.