Pelosi made $4 million on Amazon Stock


Armstrong Economics Blog/Corruption Re-Posted Jul 8, 2021 by Martin Armstrong

When Journalists did their job – Once Upon a Time

COMMENT: Marty; You have been so right. Washington is hopelessly corrupt. Pelosi bought all the stocks that worked against Trump. This is disgusting!

FG

REPLY: I have said before, when there were members of Congress exposed for trading on inside information, of course, nobody was ever prosecuted. Any of us among the Great Unwashed would get 20 years in prison for that. They were going after McAfee for that and he’s dead. To them, this is just a perk.

This time Paul Pelosi, investment manager and the husband of House Speaker Nancy Pelosi, purchased up to $11 million worth of big tech stocks in May and June, according to a financial disclosure form filed last week. Pelosi’s biggest purchase was $4.8 million worth of Alphabet shares on June 18, according to the disclosure. Pelosi exercised 40 call options to buy 4,000 shares at a strike price of $1,200. With shares of Alphabet currently trading at $2,524, that stock position is now worth more than $10 million, representing an unrealized gain of more than $5 million.

Those in Congress always talk against the “rich” but they throw their money into trusts and foundations so they will NEVER be taxed as they target everyone else. They always make sure they are exempt. When I went out of committee and wrote to President Reagan back in 1985, I was told I should have been a “good boy” and churned out studies that supported their objectives and I could have made $5 million a year. I said no thanks, I can make that without having to get rid of all the mirrors in my house so I don’t have to look at the person I would become.

As I have said. Trump was wrong. It is not a swamp, it is an ocean. That is why they had to take him down. How the hell did he think he was messing with their trough?

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