So about that swamp

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LawBeefaroni
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So about that swamp

Post by LawBeefaroni »

Swamp thing of the day:



Paul Pelosi gambling at the Wall Street casino.

House Speaker Nancy Pelosi recently disclosed securities transactions made in December by her husband Paul Pelosi, a businessman and private investor.
....


Paul Pelosi bought 100 call options for Apple stock. A call option allows an investor to purchase shares at a predetermined price and for a set amount of time. Typically, one options contract covers 100 shares. The strike price—the purchase price per share—on the options he bought is $100, and the options expire on Jan. 21, 2022. He paid a total of between $250,001 and $500,000 for the Apple call options. Specific values aren’t required for disclosure, only ranges.

Paul Pelosi bought 25 call options for shares of electric-vehicle giant Tesla with a strike price of $500 and an expiration date of March 18, 2022. He paid a total of between $500,001 and $1 million for the Tesla stock options.

He bought 100 call options for Disney stock with a strike price of $100 and an expiration date of Jan. 21, 2022. He paid between $500,001 and $1 million for the Disney stock options.

Paul Pelosi paid $500,001 to $1 million for 20,000 shares of global investment firm AllianceBernstein. The day that he bought AllianceBernstein stock it traded between a low of $33.14and a high of $33.66, before closing at $33.37.


As if there was any mystery why Burr, Loeffler, etc got off scott free or why the the clock was allowed to run out on Trump's emoluments.


And before anyone asks, yes what Paul did was legal. And when Nancy pushes a bill the helps Tesla or hurts Netflix it will be legal as well. But what happened to "even the appearance of impropriety is a problem"?
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Jaymann
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Re: So about that swamp

Post by Jaymann »

Florida Man definitely drained the swamp. But he refilled it with nuclear waste.
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El Guapo
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Re: So about that swamp

Post by El Guapo »

I'm confused. What's the issue with his stock transactions? Was there specific public business relevant to those four companies that was coming up?

edit: ah, I misread those strike dates as January 21, 2021. Does seem like it would be worth restricting stock transactions by members of Congress and their spouses, though this is more of a pre-scandal than a scandal.
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Smoove_B
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Re: So about that swamp

Post by Smoove_B »

Totally fine that this is happening:
The husband of House Speaker Nancy Pelosi just bought as much $5 million worth of stock in software and computer-chip company Nvidia, publicly available financial disclosures show.

According to the disclosures, Paul Pelosi purchased between $1 million and $5 million worth of Nvidia stock NVDA, +5.53% on June 17.

The stock purchase comes as the Senate is expected to meet this week to discuss a bipartisan bill to boost semiconductor manufacturing in the country. The bill aims to provide grants, tax credits and other incentives for companies to manufacture semiconductors in the United States.

It’s worth noting that Nvidia designs their owns chips, but hires other companies to manufacture them and likely would not directly receive benefits from subsidies related to this congressional bill.
A reminder:
In 2021, Nancy Pelosi, a California Democrat, publicly opposed banning members of Congress and their families from trading individual securities. “We are a free-market economy,” Pelosi said. “They should be able to participate in that.”
/pours one out for Drazzil
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Zarathud
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Re: So about that swamp

Post by Zarathud »

The semiconductor bill is going to happen, building US capacity should receive broad support.
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LawBeefaroni
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Re: So about that swamp

Post by LawBeefaroni »

Smoove_B wrote: Tue Jul 19, 2022 6:36 pm Totally fine that this is happening:
The husband of House Speaker Nancy Pelosi just bought as much $5 million worth of stock in software and computer-chip company Nvidia, publicly available financial disclosures show.

According to the disclosures, Paul Pelosi purchased between $1 million and $5 million worth of Nvidia stock NVDA, +5.53% on June 17.

The stock purchase comes as the Senate is expected to meet this week to discuss a bipartisan bill to boost semiconductor manufacturing in the country. The bill aims to provide grants, tax credits and other incentives for companies to manufacture semiconductors in the United States.

It’s worth noting that Nvidia designs their owns chips, but hires other companies to manufacture them and likely would not directly receive benefits from subsidies related to this congressional bill.
A reminder:
In 2021, Nancy Pelosi, a California Democrat, publicly opposed banning members of Congress and their families from trading individual securities. “We are a free-market economy,” Pelosi said. “They should be able to participate in that.”
/pours one out for Drazzil
NVDA, +5.53%
That's between $50K+ and $250K+ in gains for ole Paul today. Since his buy on Friday (he can't buy on Sunday), he's up between $90K+ and $450K+. Is that chump change in the grand scheme? Sure. But when you can make half a mill with zero risk at will, it adds up. It's illegal and unethical to engage in insider trading regardless of what Nan says. It's anything but a "free-market economy" when the rule makers are allowed to cheat.

But hey, burn the place down so you can keep making those trades. Oh, and Paul, keep on keeping it real.
" Hey OP, listen to my advice alright." -Tha General
"No scientific discovery is named after its original discoverer." -Stigler's Law of Eponymy, discovered by Robert K. Merton

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LawBeefaroni
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Re: So about that swamp

Post by LawBeefaroni »

" Hey OP, listen to my advice alright." -Tha General
"No scientific discovery is named after its original discoverer." -Stigler's Law of Eponymy, discovered by Robert K. Merton

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malchior
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Re: So about that swamp

Post by malchior »

I buried it in the Ukraine thread but there is a bill that is under consideration to restrict stock trading. The House and Senate both punted it to the lame duck session where it'll likely go to quietly die. Pigs at the trough.

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Re: So about that swamp

Post by Smoove_B »

I saw that Chris Jospephs tweet a few days ago and was enraged. It's indefensible and it only serves to erode trust (while enriching the elite). It boggles the mind that it's so open and so accepted.
Senator Warren wrote: I have the toughest bill in Congress—and the only bipartisan bill in the Senate—to ban Members of Congress and their spouses from buying, selling, and owning individual stocks.
We've examined ourselves and decided we are not in violation of any type of ethical misconduct; the bill will not be necessary.
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Pyperkub
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Re: So about that swamp

Post by Pyperkub »

Heh...


Amazing. Rep. Craig found out her kid was day trading thanks to Congressional family stock disclosure laws.
Per Rep Craig:
Can confirm. And he lost money on both trades.
Black Lives definitely Matter Lorini!

Also: There are three ways to not tell the truth: lies, damned lies, and statistics.
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