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Nancy Pelosi’s Recent Stock Purchase Raises Important Ethics Issues


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Nancy Pelosi’s Recent Stock Purchase Raises Important Ethics Issues

Nancy Pelosi made some stock purchases last month that are raising eyebrows — and questions — about the ethics of Congresspeople buying and selling stocks. In December, Rep. Pelosi, the Speaker of the House, purchased 25 call options of Tesla stocks, along with a few other stock purchases. Why does this matter? Because under the Biden administration’s new agenda, with its focus on environmental protections and combating climate change, Pelosi could benefit financially from those political plans.

President Joe Biden is currently encouraging the purchase of electric vehicles, and that could mean lifting the cap on sales, providing tax credits to buyers, and a potential program incentivizing people to trade in used vehicles to buy an electric one. Biden also announced on Monday that he would be replacing the entire fleet of 645,000 federal vehicles with electric ones. This could create a conflict of interest, as part of Pelosi’s job will include working to pass these environmental and clean energy initiatives — initiatives from which her family now stands to profit handsomely.

According to the disclosure, Pelosi (or her husband, Paul, who runs a venture capital firm) purchased call options at a stake price of $500. Since the calls were bought last month, shares of Tesla have risen from $640.34 to over $890. The call options are now valued at $1.12; they were purchased for between $500,000 and $1 million.

Questions of whether it’s ethical for members of Congress to buy and sell stock are not new. Last year, former Georgia Senator Kelly Loeffler was accused of insider trading and profiting off the coronavirus pandemic when she sold between $1.275 million and $3.1 million in stocks right after being briefed in January 2020 about the seriousness of the virus.

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Democrats make policy then get rich off of their legislation, no wonder they are pushing for all electric cars now.

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The issue is insider trading, not the selling / buying of stocks itself.

Insider trading by Congress? It's time to fix the law

https://thehill.com/opinion/criminal-justice/493497-insider-trading-by-congress-its-time-to-fix-the-law

 

Both parties are guilty of this

Lawmakers could face legal scrutiny for stock selloffs before virus-driven market crash, analysts say

https://www.usatoday.com/story/news/politics/2020/03/20/coronavirus-stock-senators-may-face-legal-scrutiny-selling-shares/2885101001/

 

3d013d74-4ae6-4a77-8de5-7ebe43d6bb19-040

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