Fresh evidence has emerged that shows members of Congress have continued to engage in insider trading – a practice that would land members of the public in jail.
Business Insider reports that new evidence has been found supporting the allegation that Democrat Rep. Nancy Pelosi (D-CA) and other members of Congress are engaged in insider trading.
For those unfamiliar with insider trading, Investopedia reports:
Insider trading involves trading in a public company’s stock or other securities by someone with non-public, material information about the company.
Insider transactions are legal if the insider makes a trade and reports it to the Securities and Exchange Commission, but insider trading is illegal when the material information is still non-public.
The claim has been that some members of Congress – most notably Pelosi – have profited tremendously from insider, non-public, knowledge that they have obtained through their government positions.
Here is a recent example, reported by Fox News:
“Rep. Nancy Pelosi, D-Calif., who has received widespread scrutiny over her husband’s stock purchases, is making bank on another well-timed bet on a familiar corporation.
“The California Democrat’s husband, Paul, who owns a San Francisco investment and consulting firm, scooped up between $1 million and $5 million worth of call options in computer chip company Nvidia on Nov. 22.
“Pelosi, however, held off on reporting the transaction until right before Christmas.”
This is not a one-off situation either.
Pelosi and her husband, over the years, have made millions off of the stock market.
Paul Pelosi is so successful as a market trader that his apparent crystal ball-like ability to predict the markets far outpaces even Wall Street’s finest.
This, in itself, of course, is not a crime.
But, it is incidents such as the Nvidia situation combined with Pelosi’s unusually high rate of success that have led to insider trading claims.
Pelosi argues that she is not involved in insider trading because it is her husband who makes the trades.
According to corporate media “fact-checkers,” Pelosi cannot be accused of insider trading because she doesn’t discuss the trades with her husband in private.
However, Business Insider reports new evidence of alleged insider trading by Pelosi and other members of Congress.
Per the outlet:
“The Unusual Whales Democratic ETF, which trades under the symbol ‘NANC’ in a nod to former House Speaker Nancy Pelosi, has surged 30% since its launch on February 7, 2023.
“That compares to a gain of 24% for the S&P 500 over the same time period.”
Investopedia explains what an “ETF” is.
The outlet reports:
An exchange-traded fund (ETF) is a basket of securities that trades on an exchange just like a stock does.
ETF share prices fluctuate all day as the ETF is bought and sold; this is different from mutual funds, which only trade once a day after the market closes.
Business Insider reports that the particular ETF referred to above – the one that trades under NANC – “tracks the trades of Democrats in Congress and their spouses.”
And, as stated, it “has outperformed the broader stock market since its launch last year.”
This returns us to the question of how is it that Pelosi and other members of Congress so consistently outperform the stock market.
Do they just have some secret formula of success that people outside of Congress do not have?
Or is it insider trading?
If Paul Pelosi really is a trading genius who doesn’t discuss the markets with his wife, why hasn’t the Biden administration recruited him to help fix the broken economy?
As of right now, we do not know the answer.
But, the situation sure has raised many eyebrows, to say the least.
