Insider trading on stock information. “The maximum penalty for individuals is now 20 years in prison; $5 million fine.”-insidertradingpolicy-sec.gov.
Nancy Pelosi (D-Ca) has been a member of Congress since June 2,1987. In 2000, her husband, Paul Pelosi invested $50,000. in stock of a company called Salesforce. The company’s CEO Marc Benioff, is a big Democrat donor. Nancy Pelosi steered more than $1 Billion of federal money into a San Francisco project that directly benefited Salesforce. In 2014, Paul Pelosi owned $1 million in Salesforce stock. -FreeBeacon.com. 8/15/14.
“Nancy Pelosi and her husband have participated in at least 8 Initial Public Offerings while having access to information directly relating to the companies involved.”-newsmax.com. 11/13/2011. In 2008, The Pelosi’s bought 5,000 shares of Visa, the credit card company, at the initial price of $44. per share. Two days later, it was trading at $64. Nancy Pelosi prevented a bill from coming to the floor for a vote that would have hurt Visa.-newsmax.com. 11/13/11. As of January, 2019, Nancy Pelosi’s net worth was $72 million. -GoBankingRates.com. 1/2019.
“Just 12 days before the 2008 economic meltdown, several members of Congress pulled their money out of the stock market. Congress had been forewarned in secret meetings with the Treasury Department and the Fed. Meanwhile, millions of Americans lost their homes and life savings.”- represent.us.
Sen. Dianne Feinstein, U.S. Senator of California since 11/4/1992. Her husband, Richard Blum, owned 24% of a publicly traded company called URS Corp. A San Francisco planning and engineering company. He was also on the Board of Directors. In February, 2003, URS Corp. won an Army contract worth $3.1 Billion over 8 years. -SFgate.com. 4/22/2003.
As of January 2018, Dianne Feinstein’s net worth was $94 million; the second wealthiest Senator.-Investopedia.com. 1/30/2018.
On 11/13/2011, 60 minutes aired a segment called “Insiders.” Steve Kroft asked Peter Schweizer, a fellow at The Hoover Institution, a Conservative think tank at Stanford University: “So Congressmen get a pass on insider trading?” Schweizer: “They do.” Kroft: “Why does Congress get a pass on this?” Schweizer: “It’s really the way the rules have been defined. And the people who make the rules are the political class in Washington. And they’ve conveniently written them in such a way that they don’t apply to themselves.”-cbsnews.com. 6/11/12.
Shortly after this embarrassing news segment, Congress passed the Stockpile Act ( Stop trading on Congressional Knowledge), due to public outrage. In theory, the same rules now apply to Congress as everyone else. (Sure).-represent.us. One year later, in April 2013, Obama repealed the broad disclosure provisions of the Stock Act.-opensecrets.org. 4/12/13. Eliminated were a) required electronic filing, b) creation of a database. “Without the provisions, the Stock Act is made toothless.”-opensecrets.org. 4/12/13.
Conclusion: Congress has managed to circumvent laws that are supposed to apply to every single citizen of the United States. No one is supposed to be above the law. “No person, however powerful or talented, can be allowed to act as if he/ she, were superior to the law of the land. Public decisions must be made upon the basis of law, and the laws must be general rules that everybody obeys, including those who make and enforce the law.”- Rule of law & U.S. Constitutionalism/ Libertyfund.org. / Done
That’s why they’re called the elitists. They get to do whatever they want to and we the people, if we do whatever we want to are locked up. Do as I say, not as I do!!