Pelosi faces more allegations of insider trading

U.S. Rep. Nancy Pelosi and her husband, Paul Pelosi, are, once again, facing allegations of insider trading. 

Fox Business reports that the Pelosi duo made a stock move that many are saying is far too good to be a mere coincidence.

The move was technically made by Paul Pelosi. This is a common occurrence throughout Congress - that is, a spouse of a Congress member making a too-good-to-be-true stock move, while the other spouse is sitting in Congress.

The former House speaker and her husband have been especially successful in the stock market.

Paul Pelosi's latest move

It just so happens that Paul Pelosi, according to Fox Business, managed to get rid of a bunch of Visa shares just months before the federal government decided to bring a lawsuit against the company.

The outlet reports:

Financial disclosures show the California Democrat's husband, Paul Pelosi, sold 2,000 shares of Visa on July 1, for at least $500,000. It is unknown how much, if any, profit the Pelosis made in the transaction.

Fox goes on to add:

The X account "Nancy Pelosi Stock Tracker" flagged the trade on Tuesday, the same day the Department of Justice filed a lawsuit against Visa, alleging that the company maintained an illegal monopoly over the U.S. debit card market.

The big question, of course, is whether Pelosi, before he sold the shares, had any knowledge - from his wife's position in Congress - that something like this could happen to Visa.

Nancy Pelosi, for her part, professes ignorance of it all, saying, "Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions."

It's not the first time - or the tenth

Now, if this was just a one-off occurrence, then it would be easy to say, "Pelosi got lucky on this one." The thing is, however, that it is not a one-off occurrence. Pelosi gets "lucky" all of the time.

The New York Post reports:

From 2007 to 2020, Paul raked in as much as $30.4 million from trades in Facebook, Google, Amazon, Apple and Microsoft — even as rumors flew that Nancy was slow-walking efforts to regulate these firms. In 2020 alone, the Pelosis’ investments beat the S&P by nearly 15%.

That is very impressive.

To be fair, Pelosi is not the only member of Congress to see above-average success with stock trades.

In response, there have been calls for members of Congress - and their spouses - to be banned from stock trading, but the problem, of course, is that the members of Congress who are doing well would have to vote for it. Accordingly, it does not appear as though such a ban will be implemented any time soon.