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On 02 Jan 2024, "Jim (Ace)" <elonx@protonmail.com> posted some news:un2l38$334tl$4@dont-email.me:

Nancy Pelosi has zero ethics. That should be apparent because of her
antics "vetting" Barack Obama and the extraordinary trail of insider
trading by a government employee. Insider trading that would see
private investors indicted, fined and jailed.

Rep. Nancy Pelosi (D-CA) and her venture capitalist husband reportedly
bet millions on technology giant Nvidia (NVDA) late last year — despite
immense scrutiny and backlash against congressional stock trading.

The former house speaker bought Nvidia call options on Nov. 22 — her
largest stock purchase in the last three years, according to stock
trading news site Unusual Whales.

According to a disclosure form obtained by Unusual Whales and congresstrading.com, Pelosi purchased 50 call options with a strike
price of $120 and an expiration date of Dec. 20, 2024 — with a potential capital gian of up to $5 million.

“Pelosi bet millions on NVDA in November using call options. Using a
deceptive tactic, she purposely disclosed this on the Friday before
Christmas weekend to avoid media coverage,” ongresstrading.com revealed
on X, formerly Twitter.

Pelosi’s trades under scrutiny
Pelosi, aged 83, and her husband, Paul, have re-entered the Nvidia game
after selling their shares and call options in the AI software company
at a total loss of over $700,000 in 2022.

Their ill-timed departures occurred around the same time that the CHIPS
and Science Act was passed into law, which Pelosi publicly supported.
This law majorly benefited domestic chipmakers like Nvidia.

Since selling their 25,000 shares, the Nvidia stock price has surged by
almost 200%, according to the New York Post, which means the value of
the Pelosis’ original stake would have been worth in excess of $12.2
million today.

However, the duo has certainly made up for it in other transactions.
They have netted millions of dollars in profit from buying call options
on other blue-chip stocks such as Salesforce (CRM), Roblox (RBLX), and
Disney (DIS).

They have also made some well-timed sales. Notably, Paul Pelosi, 83,
sold 30,000 shares of Google (GOOGL) stock in December 2022, just one
month before the tech giant was sued over alleged antitrust violations.

That transaction had lawmakers crying foul about insider trading.
Specifically, it riled up Sen. Josh Hawley of Missouri, who responded by introducing the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act in January 2023.

When announcing the PELOSI Act, he said: “While Wall Street and Big Tech
work hand-in-hand with elected officials to enrich each other,
hard-working Americans pay the price. The solution is clear: we must immediately and permanently ban all members of Congress from trading
stocks.”

Read more: Thanks to Jeff Bezos, you can now cash in on prime real
estate — without the headache of being a landlord. Here's how

Efforts to ban lawmakers' stock trading
Hawley is by no means alone in trying to tackle this problem. The PELOSI
Act followed fast in the footsteps of the Transparent Representation
Upholding Service and Trust in Congress Act, or TRUST Act, introduced by
Reps. Abigail Spanberger of Virginia and Chip Roy of Texas on Jan 12,
2023.

Both bills failed to move the needle in Congress — but they set the
scene for a busy year of politicians trying to stifle corruption in
Washington.

In July, Hawley took another stab at the problem by co-introducing the bipartisan Ban Stock Trading for Government Officials Act alongside Sen. Kirsten Gillibrand (D-N.Y.) That proposed law builds on the decade-old
Stop Trading on Congressional Knowledge (STOCK) law, which is supposed
to combat insider trading by members of Congress and their staff.

https://finance.yahoo.com/news/deceptive-tactic-nancy-pelosi-disclosed-18 0000159.html

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