By oldedude September 28, 2024 6:36 am Category: Role Playing Games
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Rules of the Post & Tips.
Well within the plethora of rules and regulations members of congress members must adhere to. When the rest of us didn't know the issue with VISA was going on with congress, former Speaker of the House and current Rep. Nancy Pelosi is receiving attention once again due to her husband's stock trading, this time over her spouse unloading Visa shares a few months before the federal government sued the company. Pelosi was using not only his name, but also AI names. This would be like using off-shore shell or shelf companies to complete transactions. Except shell and shelf companies are vaguely legal. Not using your own name to buy and sell stock violates "Know Your Customer" Laws and is considered money laundering. I'm wondering if Pauly Off Shore was one of the names.
Financial disclosures show the California Democrat's spouse, Paul Pelosi, sold 2,000 shares of Visa on July 1, for at least $500,000. It is unknown how much, if any, profit the Pelosi's made in the transaction.
The X account "Nancy Pelosi Stock Tracker" flagged the trade on Tuesday, the same day the Department of Justice filed a lawsuit against Visa, alleging that the company maintained an illegal monopoly over the U.S. debit card market.
DISCLAIMER: First, most people in congress have been caught with the insider trading issue. They'll do it once, get their hands slapped, and not do it again. There seem to be folks on the take on both sides that have issues with an extremely convoluted campaign fund laws, and of course bribery, graft, and corruption. With the Pelosi's seem to have a racket going on with it. And every time it gets bigger and more common. And people wonder how someone can earn $174,000- $400,000/year in DC and come out multi-millionaires. Enter the swamp.
AND on both sides, DOJ doesn't do much with these cases. It's usually a slap on the wrist or the British Bobby "Halt! or I'll say Halt again!" Which kind of makes sense because to arrest a congress member cuts off the hand that feeds you, but this is getting out of hand. Even if the stock gets cut in half, that's a quarter Mil in profit, which isn't bad for a day's work.
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