Nancy Pelosi Made $500,000 From Her Nvidia (NASDAQ: NVDA) Bet, Doubling Her Annual Government Salary In Just 2 Months
Nancy Pelosi Made $500,000 From Her Nvidia (NASDAQ: NVDA) Bet, Doubling Her Annual Government Salary In Just 2 Months
I know Pelosi is one of the magats' favorite talking points, but last time I saw Pelosi's market gains posted, she wasn't even in the top 10 of Congressfucks rigging their investments, and it wasn't close to being a one party issue.
What the right doesn't get is that the left wants this corruption to stop, even when the corruption is from the same side. The GOP only wants the other side to be held accountable
the left wants this corruption to stop, even when the corruption is from the same side
This is very confusing. The left absolutely does want it to stop but centrist Dems do not. The left is not on the same side as Pelosi.
Maybe the left like you and me do, on the ground, but I guarantee that lawmakers on both sides of the aisle are just fine with how things are right now.
It’s that part of the fascist playbook where the enemy is weak and dangerous at the same time.
So? You approve of the behavior? That sounds like "what aboutism", ignoring the point. Unless you have a spare 500k to send to me showing how little you care because it's insignificant.
Well considering she made the purchase a couple weeks before there was an announcement of a new chip plant in China. The game is rigged folks.
vote blue no matter who
Vote progressive in the primary.
Yeah Nance and the Dems are the only ones doing this stuff...
I’m criticizing Pelosi because she is a democrat. We don’t expect anything better from the GOP. We can hopefully exert some pressure through outrage to make democrats change this. Democrats by and large suck but it’s a given that republicans do this too.
Well considering she made the purchase a couple weeks before there was an announcement of a new chip plant in China. The game is rigged folks.
I mean. Its absolutely nothing compared to the post ChatGPT runup.
Quick, ask her again if representatives should be able to trade stocks.
Making money isn't the problem, insider trading is the problem. Did she do something as a congressperson that gave her inside knowledge of how AI was going to blow up Nvidia stock?
If not this is a non story.
Nah, see, the reality is the stock market is a fundamentally manipulatable thing that is weakly coupled to anything.
Oh OK then, thanks for clarifying.
I am not saying politicians aren’t routinely filling their pockets with insider information but most people who have an interest in at ai could have seen this coming. I am simply not rich enough to join the game and make profit.
She's probably one of the ones who made a bunch of trades just before the first lockdown of the pan. Or her husband. I don't trust any of 'em without full transparency.
Remember when the bill to ban stock trading well was tabled so Democratic leadership could introduce a bill to ban stock trading poorly and then that bill was quietly delayed until after the Democrats lost the house?
https://www.nytimes.com/2022/09/30/us/politics/stock-trading-vote-congress.html
Anyone with Nvidia stock made a stupid amount of money.
Not everyone who has Nvidia stock has a hand in policy that influences stock prices.
What legislation involved nvidia?
The gain was from a call though, not ownership of existing stock over long term.
Is that what happened?
How do 80 year olds know what stocks to buy and I don’t?
They're in a job where they often are the first to hear significant public info that will affect the markets. This lets them make stock deals to their benefits before anyone else.
If they're being scummy, they use info that isn't public.
Progressives in the DNC are pushing for this to be reformed, so that's the best path for change.
Who says they do? Everyone holding Nvidia got the gains, it's the 6th largest company by market cap, everybody with enough money in the stock market (or any shares in an S&P 500 index fund) owns some.
And you'll never see an article about Nancy Pelosi losing money because nobody cares, so if she has a lot of money in a lot of places, you'll just see the bets that succeeded and think she's killing it.
Eat the rich.
Girlboss financial crimes 💅
What's the crime? anyone who follows the market knows people have been drooling over nvidia for a long time now.
There is a lot of financial crime in congress, but this isn't it. Heck, even I knew to buy Nvidia.
Is it really a bet if you know the outcome?
You sure it wasn't her Husband that did that? I mean it is what he does as his job.
He probably gave her advice based on what would likely be happening in Congress.
And again I ask what legislation affected nvidia stock?
Other countries should be following our great example. Not only do we have the best legislators, but in their spare time they are also financial geniuses, doubling their salary easily. Other countries are envious that our government workers are so efficient and financially savvy.
Can I hire her as my stock broker?
You should hire her husband that has done this his entire life.
YOLO
Nancy didn't do shit. Nancy has smart finance people working for her that play games with her funny money
Those in Congress should not be able to trade stock
Lawmakers should not be allowed to trade stocks
Say it louder for the people in the back
Sounds perfectly reasonable to me.
Carter sold his family's peanut farm.
Legislators, members of governments and their households should either be forbidden from doing insider trading, with regular detailed audits to ensure it, or should be forced to use blind trusts for investments.
Her husband's not a lawmaker. Once again: lawmakers should be banned from trading stocks.
Insider trading is theoretically illegal in all other contexts, why are congress creeps special?
Only T-bonds.
It’d be better just to require blind trusts. The trust has a fiduciary duty to invest their money well, and the politician can write a letter requesting a certain high-level investment strategy prior to the start of their term (ie, primarily large cap, primarily bonds, high/low risk tolerance). If they want they can add or remove money as USD during their term and they’ll get back whatever’s left at the end.
That's not really what people consider "stocks" but yes of a lot of economists and political theorists were able to debate the details of the policy people could decide and urge their reps to do the right thing. Worth a shot I guess.