According to Forbes, House Speaker Nancy Pelosi’s “financier husband” recently exercised 25 Tesla call options worth more than $2 million.
There’s a good reason why the Speaker and her husband have an estimated net worth of over $115 million – her insider knowledge of rules and regulations soon to be enacted by Congress have helped make her family fabulously wealthy.
Congress has tried to do something to curtail insider trading for years. Under the “Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act), lawmakers must disclose stock transactions made personally or by their spouses or dependent children within 45 days.”
Yet many congressional watchdogs believe the STOCK Act doesn’t go far enough in deterring lawmakers from personally benefitting from insider knowledge when purchasing shares of individual stocks.
As a matter of fact, Business Insider found that 63 Members of Congress (that’s 12 percent!) violated provisions of that law just last year.
You can read the full story HERE.
