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Political Insider Trading: How US Politicians Get Rich
The Land of Insider Trading?
Lately, focusing on finance, it can feel like the “Land of the Free” is becoming the “Land of Insider Trading and Corruption.” While strong reactions occur when questioning the system, the goal here is to lay out data and ask questions about potential conflicts of interest within the US government.
Nancy Pelosi: A Case Study in Questionable Trades
Nancy and Paul Pelosi, a political power couple worth hundreds of millions, often appear in discussions about potential insider trading. Paul is an investor, and Nancy, a long-serving representative and former Speaker of the House, has access to significant non-public information.
In June 2022, the Pelosis disclosed purchasing over $3 million worth of Nvidia shares. This purchase occurred around June 17th, parallel to Nancy Pelosi championing the “Chips Act,” which allocated $50 billion in subsidies for US tech firms like Nvidia. This presents a clear conflict of interest. Interestingly, after scrutiny, they sold these shares at a loss, disclosing the trade on the same day it was made – a first for them – just days before the Chips Act became law.
https://upperechelon.gg/articles/political-insider-trading-how-us-politicians-get-rich
Mark Carney defends B.C. condo purchase program amid bailout criticism
Prime Minister Mark Carney defended a controversial plan announced last week to spend millions of taxpayer dollars buying empty B.C. condos to quickly provide affordable housing, amid criticism it amounts to a bailout for developers who misread the market.
At a press conference Thursday, Carney said the housing program — which would see the federal and B.C. governments partner to purchase up to 2,200 vacant condos — is a quicker way to get people into affordable housing than building new units.
“We don’t care about the developer. We care about the person or the family that can potentially move into the home,” he said.
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Mayor Zohran Mamdani backed down in his efforts to arrest Benjamin Netanyahu in New York City, admitting in a video statement Tuesday night that he doesn’t have the legal authority – while slamming the Israeli prime minister as an unwelcome “war criminal.”
The pro-Palestinian, socialist pol said in a video posted to X that despite his administration reviewing “every avenue available” to find a legal loophole to take Netanyahu into custody, they don’t have the authority.
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