Posted on 11/11/2011 6:35:33 PM PST by NormsRevenge
Washington -- House minority leader Nancy Pelosi is bracing for a report on the stock investments of members of Congress that is to air Sunday on CBS' "60 Minutes."
The San Francisco Democrat and House Speaker John Boehner, R-Ohio, were questioned separately at their weekly news conferences Nov. 3 by reporter Steve Croft. Neither had granted Croft's previous requests for interviews.
Croft asked both leaders about stock transactions they made while Congress was considering legislation that could affect the financial and insurance industries. Pelosi and Boehner vigorously denied any connection.
Laws against insider trading - making stock bets based on information the public doesn't have - do not apply to Congress. Studies have shown that stock portfolios on Capitol Hill outperform the market. Legislation that would ban insider trading by members and staff has languished.
Croft asked Pelosi why she and her investor husband, Paul Pelosi, bought an initial public offering of stock in Visa, the San Francisco-based credit card company, in March of 2008.
The same month, former House Judiciary Committee chairman John Conyers, D-Mich., introduced the Credit Card Fair Fee Act, which would have given merchants the power to negotiate lower fees with credit card companies. The bill, hostile to the credit card industry, was passed by the committee but never brought to the floor. Pelosi was speaker at the time, and controlled which legislation came to a vote.
The Pelosis bought the Visa stock in three transactions totaling $1 million to $5 million, according to financial disclosure reports. The first was the IPO, followed by two other purschases of the stock at higher prices, Pelosi said.
Pelosi said the Conyers bill had no chance of being signed by then-President George W. Bush. She said she brought even tougher legislation, ..
(Excerpt) Read more at sfgate.com ...
“Laws against insider trading - making stock bets based on information the public doesn’t have - do not apply to Congress. [...] Legislation that would ban insider trading by members and staff has languished.”
Laws have become meaningless. Shame.
tick tick tick tick tick ...
They’re innocent. I just can’t believe Pelosi and Boehner would do such a thing. /sarcasm.
The whole point of D’Anconia Copper was to get these leeches to put all their money into his company, which he subsequently crashed. Just sayin’.
Even if they find something huge its a one time story with no follow up by other media outlets.
The multi-millionaire investors own a large stake in an exclusive resort hotel in Wine Country, the Napa Valley Auberge Du Soleil Resort.
It has more than 250 employees. But none of them are in a union, according to Peter Schweizer, author of “Do As I Say, (Not As I Do) – The Hypocrisy of Democrats” and a regular contributor to the New York Times.
Pelosi is also partners in a restaurant chain called Piatti, which has 900 employees.
The chain is – you might have guessed — a non-union shop. It is a very high-end restaurant group with locations in Carmel, Sonoma and Danville to name just the locations I dined at.
‘60 Minutes’ hates princesses.
Laws against insider trading -- making stock bets based on information the public doesn't have -- do not apply to Congress. Studies have shown that stock portfolios on Capitol Hill outperform the market. Legislation that would ban insider trading by members and staff has languished. Croft asked Pelosi why she and her investor husband, Paul Pelosi, bought an initial public offering of stock in Visa, the San Francisco-based credit card company, in March of 2008. The same month, former House Judiciary Committee chairman John Conyers, D-Mich., introduced the Credit Card Fair Fee Act, which would have given merchants the power to negotiate lower fees with credit card companies. The bill, hostile to the credit card industry, was passed by the committee but never brought to the floor. Pelosi was speaker at the time, and controlled which legislation came to a vote.Occupy Pelosi is probably firing up right now. /s
Have Nancy Pelosi show you how to make 80% returns in the stock market. First you have to get elected to Congress, otherwise they’ll jail you for insider trading. Then pass bills that will enrich your portfolio and to heck with all of the “little people”. Go ahead Nancy, have your fun. There is a God. He has your number.
‘60 Minutes’ probes Pelosi’s investments [ in a desperate attempt to get Republicans to watch their fading show ]
What does Princess Nancy own?
These are the people who lead our country.
Pelosi as rich as Midas backing kids protesting rich people.
Pelosi with her most open Congress we ever saw LOL on that one.
Amazing that they would even bother. I’d love to see her kicked out! :)
Billy Mack, he’s a detective down in Texas, you know he knows just exactly what the facts is....
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