Pelosi Sold $3 Million in Google Stock Mere Weeks Before the DOJ Announced an Antitrust Investigation Into Its Main Revenue Stream, Advertising

"Boy that Nancy Pelosi must just be smart!" is a sentence that no one has ever said or will ever say.

Rep. Nancy Pelosi (D., Calif.) and her multimillionaire husband sold up to $3 million in shares of Google in recent weeks--just before the Biden Justice Department launched an antitrust probe of the tech giant.

Paul Pelosi sold 30,000 shares of Google from Dec. 20 to Dec. 28, according to a financial disclosure filing the former House speaker submitted to the House Ethics Committee. The Pelosis made an undisclosed profit from the investments, according to the filing.

The trade proved timely. On Monday, the Justice Department and attorneys general from eight states--including California--sued Google over its monopoly on the digital ad market. The lawsuit could force Google to break up its online ad business, which generated nearly $55 billion in revenue for the company in the most recent quarter. Google's stock has dropped around 6 percent since the Justice Department announced the lawsuit.

The trades are the latest in a string of questionable transactions for Paul and Nancy.

I just have no idea how High Regime Officials manage to keep making all these sick stock trades at just the right time and come out of office as centimillionaires.

Just no idea. None at all.

Josh Hawley, who we all know is an authoritarian because he disagrees with the woke, smug, and incompetent upper-middle-income Professional Managerial Class, thinks he knows how these Regime swells make so much money: He thinks they're getting insider information through classified briefings and industry insiders bribing them not with money but with insider information which is essentially money in the form of a secret.

To that end his is proposing the PELOSI Act to ban congressmen from trading or even owning individual stocks.

Sen. Josh Hawley (R-Mo.) wants to bar lawmakers and their spouses from owning and trading stocks while in office by proposing the 'PELOSI Act.'

The bill, whose title is "Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act," takes a dig at its namesake, former House Speaker Nancy Pelosi (D-Calif.).

"For too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people," Hawley said.

"As members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again."

"While Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other, hardworking Americans pay the price," according to Hawley.

"The solution is clear: we must immediately and permanently ban all members of Congress from trading stocks."

The bill allows elected representatives a six-month grace period to either divest their holdings or place them in a blind trust during their tenure in office.

...

Between 2007 and 2020, Pelosi and her husband saw their stock portfolio's worth balloon by as much as $30 million.

The couple made millions by dint of their ownership in shares of tech behemoths such as Facebook, Google, Amazon, Apple, and Microsoft, according to publicly available disclosure forms.

posted by Lamont the Big Dummy at 04:08 PM

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