Pelosi banks $1.4M in 90 days from Nvidia stock option trade, outraging watchers

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Democrats on this board continue to yell "no one is above the law", however if you right the law... you are definitely above the law. This is insider trading gone wild!

 

People in Congress shouldn't be allowed to trade on the markets, period. They would still find someone to trade for them by proxy though.

 

Insider trading is not illegal for congress, they gave themselves a pass — both parties approved.

That said, congress members should not be allowed to self manage any stocks during their tenure and the penalties for violations should be severe.

But they will never allow this

 

especially when they push legislation to subsidize the IC industry

 

I agree it's non-partisan... However, it is not a pass, but above the law. Anyone outside of congress would be charged with insider trading... especially when their legislation impacts specific markets... i.e. the CHIPS act.

 

Like the REPUBLICAN Senator cited in your link?
Elsewhere, Josephs stated there are "numerous other politicians who own Nvidia, including Markwayne Mullin (R), David Kustoff (R), Mike Mccaul (R), Josh Gottheimer (D), & more."

He highlighted that Senator Mullin purchased $30,000 of Badger Meter Inc (NYSE:BMI), a producer of automated water meter technology. Joseph, via the @PelosiTracker_ account, noted that the EPA recently passed a mandatory requirement for utilities to upgrade to newer water-automated systems and that "Mullin just so happens to sit on the Environmental Services Senate Committee."

 

yeah, I remember when republican sold stock during covid while playing down covid, sick - we do need laws to stop this

 

Wouldn't make a bit of difference. They are still privy to inside information and could easily pass that information on to friends or family and have them make the stock purchases and trades for them.

 

The only ways of holding stock for officials in the legislative, executive and judicial branch should be as an index mutual fund, or in a blind trust.

Now, as to the OP, I wonder why they are outraged with Pelosi, when there was no peep when Trump didn't really divest himself from his companies when he was president.

 

Like I stated... it's a non-partisan issue that both parties have take full advantage of. Some, a little more so than others. Regarding laws against this... The Fox's are running the hen house, however... It would take everyone to stop voting for the alpha behind the politicians name and vote for the American people as a whole.

 

This certainly isn't new, and it isn't a strictly Democrat issue. So is the consensus that anyone holding a position in any of the branches of government shouldn't be allowed to play the market? Which branches most concern us?

 

I've state that ad nauseum that this is a non-partisan issue. Pelosi is merely in the news again for the $1.4 million gains from the CHIPS act, hence why her as the focal point. 60 minutes reported on this a couple of times on this, specifically around Pelosi. Once in 2011 and I think another time in 2020. 60 minutes isn't very right leaning either.

The issue is that congress should not be making laws that then make them multi millionaires.... regardless of the alpha behind their name.. But how do you change it in our current environment where everyone is afraid to vote out one candidate, because of their other could take the seat? It's a built in problem that, IMHO, is incurable.

 

Maybe if we stop being afraid, hold all of them to the same standards, make it a law, this issue would solve itself. That aside, getting elected officials to toe the line will not be easy, it doesn't matter which party.

 

It IS a partisan issue, because if a law like this would be executed, the GOP would complain that it would de facto exclude "Business Men" from running for elected office or president. In other words, the ones who are most qualified to run the country according to GOP mindset.

BTW: The recent runup of NVidia stock has nothing to do with the chips act. NVidia is the king of AI coprocessors, that's why their graphics cars are so much in demand.

 

insider trading should be banned for politicians.

 

Well that's when you would do an investigation. Of which happens all the time and comes with jail time.

 

Yes, for lowly plebs like Martha Stewart. Members of Congress, on the other hand, get a free pass.

 

As I've said before, I want to invest in a Pelosi ETF. Heck, if insider trading is good enough for all of those DC hacks, let us folks in on the gravy train.

 

To think this is a partisan issue is is truly playing simple minded games. Both parties have advocated for the continuance of such practices and even Pelosi is on records stating just that!

If you think that the CHIPS act had nothing to do with Nvidia's latest windfall... you are surely not reading meat of the bill!

US throws Nvidia a lifeline while choking off China's chipmaking future

 

I'm saying they should be. I know what is.

 

It didn't take a market genius to see that Nvidia was going to do well. You most certainly would not have needed any inside information. They have been investing heavily in AI for years which is now paying off, and that's in addition to already being the dominant graphics card CPU manufacturer.

I'm no fan of Pelosi but she hardly needed to be doing anything illegal to have known to invest in Nivida.

 

Nvidia was tanking prior to the CHIPS act! Stock price was @ $116 October of 2022. It has increased 580% since CHIPS act was signed into law, valued at over $780 per share. Paul Pelosi bought millions of dollars of Nvidia stock PRIOR to the CHIPS act... The CHIPS act also let a few select companies, specifically Nvidia, to continue to sell chips to China.... That is a major conflict of interest and insider trading... Anyway you want to to polish that turd!

 

Again, no insider information necessary since the CHIPS act was not a secret and it's potential effect on the tech industry hardly clandestine. Nvidia stock was momentarily down because they had to write-off their Stadia gaming platform, but they are still the number one GPU manufacturer, and their investments into AI hardware and software was always going to start paying off.

It's really a stretch, a huge one, to believe Pelosi needed insider information for this. It's wishful thinking by her critics, and dumb wishful thinking at that. At least put some effort into it.

 

CHIPS provided a strategic advantage to certain AI chips companies. That was NOT public and only those who wrote the law understood that. That is the definition of insider trading.

 

You too can trade like a pro right alongside Nancy Pelosi with the "Nancy Pelosi Stock Tracker" on X (Twitter). lol

https://twitter.com/PelosiTracker_