Insider trading is illegal…except for the Pelosis.
Paul Pelosi, husband to Nancy, sold over $500,000 worth of Visa stock before the DOJ filed an antitrust lawsuit:
Visa was hit with a lawsuit on Tuesday that alleged the company has illegally monopolized the debit card market — the culmination of a years-long review conducted by the Justice Department’s antitrust unit.Visa allegedly used its dominant market position to penalize customers and merchants who use competing payment processors, according to court papers.Antitrust cops also allege that Visa forces financial tech firms to work with it by threatening to penalize those who don’t.
In July, Pelosi sold 2,000 shares:
Meanwhile, Christopher Josephs, the tech entrepreneur who runs the “Nancy Pelosi Stock Tracker” on X, posted a screenshot of a congressional filing on July 3 which showed that the former House speaker’s husband, Paul Pelosi, had sold 2,000 shares of Visa worth between $500,000 and $1 million.The disclosure form shows that Pelosi’s transaction is marked “SP,” or spouse — a reference to husband Paul, the San Francisco-based venture capitalist and real estate investor.At the time Paul Pelosi sold Visa stock, there was no public indication that an antitrust lawsuit against the company was imminent.Shares of Visa closed down 5.5% at $272.78.
But Nancy Pelosi and her husband are not the only ones.
This is a bipartisan problem.
A huge bipartisan problem.
CLICK HERE FOR FULL VERSION OF THIS STORY