Did you see 60 Minutes last night? If not, here’s video of the segment on insider trading in Congress, and Nancy Pelosi’s sweet Visa IPO deal that enriched herself and her husband quite handsomely. Remember this the next time you hear her spewing her class warfare nonsense.
Big Government has much more on the story:
Former Speaker of the House–and current Minority Leader–Nancy Pelosi apparently bought $1 million to $5 million of Visa stock in one of the most sought-after and profitable initial public offerings (IPO) in American history, thwarted serious credit card reform for two years, and then watched her investment skyrocket 203%.
The revelation appears in Throw Them All Out, the new book by investigative journalist and Breitbart editor Peter Schweizer, which was the focus of 60 Minutes on CBS this evening, and which is featured in this week’s issue of Newsweek.
Schweizer’s investigation of Pelosi and other members of Congress–from both parties–raises a critical question: should it be legal for lawmakers to buy stocks in companies directly affected by their legislative efforts?
Update: I’m well aware that this is a bipartisan problem, however, the case of Nancy Pelosi is especially egregious. Especially seeing that she’s the woman who once vowed to “drain the swamp.”