(RepublicanInformer.com)- Joe Rogan chastised House Speaker Nancy Pelosi and other members of Congress for being permitted to acquire stock options while being in a position to control the companies from which they profit.
Rogan pointed out on his Spotify podcast on Thursday that congress knows the laws that will be put into place, which seems pretty unethical.
According to Rogan, Pelosi’s husband, venture entrepreneur Paul Pelosi, has more than $2.5 million in Tesla stock.
Rogan asked how this wasn’t insider trading?
In a frustrated tone, Rogan asked if it was legal to know a bill is about to be signed that would give the electric car sector a significant boost, and you acquire “f-ckloads” of shares in electric automobiles the day before stocks shoot up.
He went on to say that Nancy Pelosi is one of Congress’ wealthiest members. The San Francisco Democrat’s net worth is estimated to be $114.7 million.
A month before Vice President Joe Biden signed an executive order forcing the switch to electric vehicles for all federal vehicles, Paul Pelosi purchased up to $1 million in Tesla stock call options.
According to the STOCK Act of 2012, members of the House are authorized to purchase and sell stocks. Still, they are forbidden from utilizing confidential information from their jobs to inform their investments.
In accordance with a Congressional disclosure document, Paul Pelosi acquired 2,500 shares of Tesla stock on March 17 by executing 25 call options with a $500 strike price. The call options had an expiration date of the next day.
Tesla stock was valued at roughly $2.2 million when Pelosi bought it, but the electric vehicle company’s recent success has already paid off big.
The Tesla purchase was Pelosi’s husband’s latest significant investment. He had previously purchased call options on tech firms such as Google, Salesforce, Roblox, and Disney.
According to the Post, the Pelosis made up to $30 million from wagers on Big Tech companies through January. Insiders have accused the speaker of dragging her feet on measures to put new rules on the IT industry.
A spokesman for Pelosi said that the Speaker does not own any stocks, which is an oily way of trying to mitigate any wrongdoing on a technicality. She “owns” stocks if her spouse owns them. She benefits from his stock ownership; he benefits from her power and knowledge.
Pelosi was initially opposed to restricting Congressional stock sales, claiming in December that legislators should be permitted to engage in a “free-market economy.”
Following a barrage of criticism, Pelosi switched direction and said she’d be open to stronger stock-trading regulations, including a potential ban.
At some point, she has to think she has enough money. Right, Barack?