categoryMenu_new
 
  Home
  EXTRAORDINARY AH Teaching from Spiritual Hierarchy
  AbundantHope
  NEW READERS! Read Here First
  Supporting AH
  Leadership of AbundantHope
  Announcements
  Regional AH Sites
  Other Sites with AH material
  Contact Us
  Becoming A Messiah
  OUR PUBLIC FORUM IS OPEN TOO ALL
  Mission Ideas
  System Busting
  Cleric Letter/English
  Translations of Cleric Letter
  AH Member Writings
  Candace
  Ron
  Rosie
  Jess
  Brian's Poetry
  James
  Giuseppe
  Esteban
  Telepathic Messages
  Candace
  Jess Anthony
  Vince
  Leonette
  John
  Adam
  Bela
  Joyce
  Hazel
  Kibo
  Peter
  Rosie
  Johan
  Lucia
  Lucia G
  Rubens
  Shellee-Kim
  Ben
  Dorothea
  Solon
  Others
  Targeted Messages
  Hano
  Light Flower
  Changing The Face Of Religion
  - Phoenix Journals - PDF in German
  Candace on Religion
  Other Spiritual Pieces
  Gems from God Like Productions
  Spiritual Nuggets by the Masters
  Phoenix Journals
  Phoenix Journals - PDF
  Telepathic Messages PDF books
  Selections from the Urantia Book
  Illustrations For The Urantia Book
  CMGSN Pieces
  THE WAVE
  Environment/Science
  David Crayford and the ITC
  Health and Nutrition
  Podcasts, Radio Shows, Video by AH
 
  Political Information
  True US History
  Human/Animal Rights
  The Miracle That Is Me
  Education
  Resources
  911 Material
  Books - eBooks
  government email/phone #'s
  Self Reliance
  Video
  Websites
  Alternative News Sources
  Art and Music
  Foreign Sites
  Health and Healing
  Human/Animal Rights
  Scientific
  Spiritual
  Vegan Recipes
  Translated Material
  Dutch
  Gekanaliseerde berichten Jess
  Gekanaliseerde berichten Candace
  Gekanaliseerde berichten Anderen
  Artikelen/berichten
  French
  Canal Jess
  Par Candace
  Other Channels
  Articles
  German
  Telepathische Nachrichten (Candace)
  Telepathische Nachrichten (Jess)
  Telepathische Nachrichten (div.)
  AH Mitgliederbeiträge (Candace)
  AH Mitgliederbeiträge (Jess)
  Spirituelle Schätze
  Italian
  Translations - Candace
  Translations - Jess
  Translations - Others
  Portuguese
  by Candace
  By Jess
  By Others
  Spanish
  Anfitriones Divinos
  Bitácoras Fénix
  Creadores-de-Alas (WingMakers/Lyricus)
  Escritos de Candace
  Escritos de Otros
  Monjoronsón
  Telemensajes de Candace
  Telemensajes de Jess Anthony
  Telemensajes de Otros
  Chinese
  By Candace
  By Jess
  By Others
  Korean Translations
  Hungarian Translations
  Swedish Translations

Search
[an error occurred while processing this directive]
Political Information Last Updated: Oct 13, 2021 - 4:41:44 PM


Queen Of Investing: Just How Did Nancy Pelosi Build a $120mn Fortune on A $223,000 Annual Salary?
By John Ransom
Oct 13, 2021 - 4:37:41 PM

Email this article
 Printer friendly page Share/Bookmark

https://www.rt.com/op-ed/537322-wall-street-nancy-pelosi-investing/

13 Oct, 2021 13:43
Get short URL

Queen of Investing: Just how did Nancy Pelosi build a $120mn fortune on a $223,000 annual salary?

US Speaker of the House Nancy Pelosi (D-CA) adjusts her hair as she speaks during a Day of Action For the Children event at Mission Education Center Elementary School on September 02, 2020 in San Francisco, California. © Justin Sullivan / Getty Images

Follow RT onRT

John Ransom is a political and financial writer and editor whose work has appeared at Townhall.com, Newsmax, the Daily Caller and IBT. He splits his time between the US and Asia.

The Democrat House speaker has become the latest member of Congress to show the rest of us how to make money on Wall Street. But please don't put it down to insider trading, because that's illegal.

In case you missed it, Speaker Nancy Pelosi (D-California) is being panned by the Twitterverse, if not by regulators and ethicists, for a series of stock transactions conducted by her husband Paul.

"The week before the House Judiciary Committee voted on reigning in big tech," reported Fortune in July, "Speaker Nancy Pelosi's husband exercised a bullish bet on Google-parent Alphabet, in a timely transaction that netted him $5.3 million."

ALSO ON RT.COMNancy Pelosi's TV meltdown shows the pressure the Democrats are now under on Covid-19 relief

See? It's really easy.

All you have to do is become a party leader in Congress with access to information that no one else has, and bingo, you too can become a dot-com, or Big Tech, or biotech millionaire, by trading on that insider information.

Of course, that's not really how it happened in this case. According to a spokesperson for Pelosi: "The speaker has no involvement or prior knowledge of these transactions." That hasn't stopped some voters expressing, well, some skepticism.

While technically the practice of insider trading is illegal, if you are a member of Congress, it seems you don't really have to follow the laws they make for the rest of us.

Insider trading has a long and hallowed history amongst ambitious, yet hungry politicos, who find the six-figure salary that comes with public power inadequate to their national position.

Former Senate majority leader Harry Reid (D-Nevada) made money off of Obamacare and oil stocks back in 2008. He sold oil stocks in the summer of 2008, right before the historic energy market crash that precipitated the real estate meltdown and nearly a trillion dollars in federal bailouts - and invested the proceeds in healthcare stocks that he later regulated while punishing the oil companies that he also regulated.

That might be how he accumulated a fortune of $10 million while in public office.

That's small beer for Pelosi, 81, who's represented California since 1987 and whose husband owns a venture capital, financial consulting and real estate firm. She has an estimated net fortune of $120 million, while her congressional salary is $223,500 a year.

A study done in 2011 tracked investment returns of members of Congress between 1985 to 2001 and found he politicos had a more than 6% advantage over the general investor. A previous study by the same group found US senators had an even bigger advantage in the stock market than House members.

These people are obviously not only great, upstanding politicians, but stock market wizards beyond compare.

Studies show that professional money managers never consistently beat the market, yet somehow, politicians like Reid, Pelosi and their peers in Congress manage to do what Warren Buffett can only manage on his very longest-held investment types.

READ MORE Wayne Dupree: The Republicans backing the President's impeachment are condemning their party to years in the wilderness

Wayne Dupree: The Republicans backing the President's impeachment are condemning their party to years in the wilderness

A 6% advantage may seem small, in dollar terms, but over an extended period of time, it's a huge advantage, guaranteeing nearly risk-free investing returns compared to the general investor.

Enjoying average market returns of 10% over 20 years, a member of the investing public would see $10,000 grow to $61,159, while a member of the House - with the advantage of that extra 6% - would see the amount grow to $167,765, nearly three times the amount made by ordinary folk.

And here's the thing: Insider trading is not a victimless crime, or a fringe benefit of public office, like tickets to the Met Gala.

For every trade a politician makes on their inside information, there are many others buying or selling investments while denied the information that politicians have about the prospects of an investment, and therefore at a real disadvantage.

Many of those people are teachers, firefighters, policemen and others who have retirement savings with money managers.

Even more, as we saw in the Pelosi case with the Alphabet trade over the summer, the fact that politicians trade in investments over which they enjoy regulatory power adds an extra dimension of ethical wrongdoing that even the most predatory of Wall Street wolves can't equal. Small wonder that the investing world has a new meme: Nancy Pelosi, star stock-picker, with thousands following her - well, her husband's - very shrewd trades.

Unlike the prohibition on expensive gifts such as Met Gala tickets, constituents have very little recourse against members of Congress who do trade on inside information.

While in 2012, Congress passed a law that supposedly required reporting of stock trades by members without delay, the fines for non-compliance are small. Business Insider reported that this year, 37 members of Congress failed to report stock trades in a timely manner.

"While lawmakers who violate the STOCK Act face a fine, the penalty is usually small - $200 is the standard amount - or waived by House or Senate ethics officials," said Businessinsider.

That's hardly more than a transaction fee for stock trades involving hundreds of thousands of dollars.

And it doesn't address the core issue of cheating the investing public and voters while serving in Congress. Cheating may seem like a small thing to Congress, but is a big thing to the rest of us.

Insider trading laws - as people learn when studying to become investment executives - were enacted to restore the trust that stock markets aren't a rigged game, with members of the public the marks in a con controlled by the people who run the markets.

More important today is that we restore the trust that government is not a rigged game, with the public the marks in a con controlled by the people who run the government.

ALSO ON RT.COMStocks for me but not for thee: Redditors playing the stock market is problematic but, if a Democrat does it, no big deal

The pandemic has gone a long way towards reinforcing the idea that there are rules the government makes the rest of us follow, but from which those in power are always exempt.

And disclosures of million-dollar stock trades that benefit Pelosi and her husband just make it clearer politicians prosper from the rules they force on us but which they ignore.

It's time to ban stock trades by our political leaders while they are in office.

Think your friends would be interested? Share this story!

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.





All writings by members of AbundantHope are copyrighted by
©2005-2021 AbundantHope - All rights reserved

Detailed explanation of AbundantHope's Copyrights are found here


Top of Page

Political Information
Latest Headlines
AustraliaOne Party - COVID: Roundtable No.2 Courage and Wisdom
Why Authoritarianism Must Prevail
AUSTRALIAONE Our Best Future
Thousands Flood Swiss Capital to Decry Covid Certificates
The Requirements For High Office
Following Takeover, Staff at US Newspaper To Be Told To Find a New Job if They Can't Support Israel
Uptick in Israeli Illegal Settler Attacks Serves Bennett Government Policy: Terrorize Palestinians and Steal More Land
Israel Resumes Practicing Attacks on Iran
Public Health or Private Wealth? How Digital Vaccine Passports Pave Way For Unprecedented Surveillance Capitalism
Facebook and Washington vs Internet Sovereignty
Why Exactly Are Trump’s Records From January Fair Game But Biden’s decades-old Senate Files Not?
State Department Privately Admits 'Nearly 400' Americans Still Stuck In Afghanistan
Federal Gov Pays University $750k to Create Tool That Warns Journalists Against Publishing “Polarizing” Content
Tucker Carlson Today - Dr. Peter McCullough - May 7, 2021
Peter McCullough, MD testifies to Texas Senate HIS Committee
Cultural Marxism and Critical Theory: A History
From Russia, With (Taliban) Love
How Biden's Too-Clever-By-Half Iran Strategy Failed
Record 2 Million Migrants Cross Border Between Ports of Entry During Past 12 Months
As Expected Joe Biden Pledge To Speed Up California Ports Amounts to Absolutely Nothing