Some lawmakers, including Nancy Pelosi, have reportedly made significant profits from stock trading, raising concerns about potential insider trading or corruption.
Pelosi and her husband’s stock portfolio saw substantial gains in 2023, leading to calls for stricter regulations on congressional stock trading.
The issue has sparked debate about potential conflicts of interest and the need for legislation to address these concerns. (Trending: Trump Defies Court And Delivers Closing Argument At Civil Fraud Trial)
🚨BREAKING🚨
I have just released the full report on politicians trading in 2023.
Like every year since 2020, US politicians beat the market.
And many in Congress made unusually timed trades resulting in huge gains.
Here are the top performers of 2023. pic.twitter.com/ykf9VICsBw
— unusual_whales (@unusual_whales) January 2, 2024
“Former House Speaker and Democratic Rep. Nancy Pelosi of California made a 65% profit on her stock trading portfolio in 2023, according to an analysis of House of Representatives financial disclosure records by the group Unusual Whales,” according to the Daily Caller.
Relying on data from Unusual Whales, The Daily Caller reported, “Pelosi and her husband Paul, a venture capitalist in San Francisco, have long been known for their jointly held stock portfolio, which has made significant profits in recent years. In 2023, the Pelosi portfolio’s profits were driven by trading options contracts — which allow the holder to purchase a stock at a lower price than its market value — and outperformed the Standard and Poor’s 500 Index of the U.S. stock market’s largest companies by a margin of 40%.”
Jeff Hauser, the director of the Revolving Door Project, said, “It’s a sign of quasi-insider trading that’s corrupt and should be banned – it’s either an addiction to risk or a sign of corruption.”
“There are teams of people at sophisticated hedge funds that exist to find minor arbitrage opportunities to make a profit. It’s preposterous to think they are finding profit where Bridgewater or Renaissance Capital is missing it,” he continued.
A reporter previously asked Nancy Pelosi, “Has your husband ever made a stock purchase or sale based on info received from you?”
“No! Not, okay, thank you,” said Pelosi as she walked away.
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