“House Speaker Nancy Pelosi (D-CA) is the sixth-richest member of Congress, according to the most recent financial disclosure statements filed in 2019. As the California Democrat has risen through party ranks and obtained more and more political power, her personal wealth has risen right along with it,” writes Glenn Greenwald.
More than half of Congress are millionaires.
She oversees the companies the couple are invested in, and among them bigly is Big Tech.
“The sector in which the Pelosis most frequently buy and sell stocks is, by far, the Silicon Valley tech industry. Close to 75% of the Pelosis’ stock trading over the last two years has been in Big Tech: more than $33 million worth of trading. That has happened as major legislation is pending before the House, controlled by the Committees Pelosi oversees, which could radically reshape the industry and laws that govern the very companies in which she and her husband most aggressively trade.”
Pelosi’s most traded stocks in the past two years are Silicone Valley giants.
“Indeed, all five of the Pelosis’ most-traded stocks over the last two years just so happen to be the five Silicon Valley giants that would be most affected by pending legislation. Four of them — Apple, Amazon, Facebook, and Google — were all of the companies identified by the House Antitrust Subcommittee as being classic monopolies, while the fifth — Microsoft — has sent executives to repeatedly testify before Democratic-led House committees to defend Democrats’ pending bills. In other words, the Pelosis are trading stock most heavily in the exact companies whose future can be most shaped by the bills Pelosi and her lieutenants are negotiating and shepherding through Congress”
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They donate lavishly to her campaign.
“Beyond that, Google — one of the companies in which the Pelosis’ stock trades have made millions — is one of the top five donors to the House Speaker. The wealthy couple buys and sells in Google stock, making millions. She works on bills that directly affect the future trajectory of Google. And they lavish her campaign coffers with cash, a key source of her entrenched power.”
How is this allowed?
You can read the article on this link. It’s enlightening and thorough.
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