Congressional 'insider trading'
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“They know laws that are going to be put into place,” Rogan said on his Spotify podcast on Thursday.
Rogan then noted that Pelosi’s husband, venture capitalist Paul Pelosi, owns more than $2.5 million in shares of Tesla.
“How is that not insider training?” he asked his guest, stand-up comedian and fellow podcaster Greg Fitzsimmons.
“If you know someone is going to sign a bill and that bill is going to be a massive boost to the electrical vehicle industry…and before that bill is signed you buy a f-ckload of stock in electrical vehicles…and the next day the stock goes up,” he said.
“How is that legal?” Rogan asked. He then noted that Nancy Pelosi is one of the wealthiest members of Congress.
The thing is, they are allowed to buy stocks now as long as they aren’t using private information. But when they are behind pushing things like electrical vehicles, they may know public things are coming and that wouldn’t necessarily break the law, yet still be responsible for making those things happen from which they would then benefit.
Paul Pelosi, Nancy Pelosi’s husband, had invested up to $1 million in call options for Tesla stock in December, about a month before Joe Biden mandated that all federal vehicles transition to electric.
On March 17, Paul Pelosi purchased 2,500 shares of Tesla stock by exercising 25 call options at a $500 strike price, a Congressional disclosure filing revealed. The call options were set to expire the following day.
The Tesla stock was worth about $2.2 million at the time of purchase, but Pelosi has already generated a windfall given the electric car firm’s recent success.
The Tesla purchase marked the latest major investment for Pelosi’s husband, who previously scooped up call options in tech stocks such as Google, Salesforce, Roblox and Disney, The Post reported in December.
The Post also reported that the Pelosis had earned as much as $30 million from bets on the Big Tech firms through January. And some insiders have accused the speaker of slow-walking legislation that would impose new regulations on the tech sector.
So what was the response from the Pelosi team over these concerns? Her spokesperson, Drew Hamill, treats Americans questioning this as though they’re stupid.
She “does not own any stocks,” he claimed. “As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions.”
Ok, so if her husband is technically the buyer, she doesn’t benefit? Is this guy trying to sell us that? And they wonder why people don’t believe anything they have to say. Now, it might not be operating from inside information but how is it right to be buying options when she is involved in the very legislation that will make the price go up or down? The response from her spokesperson shows just how much contempt she has.
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It is hard to believe they do not have insider information and it is also hard to believe the SEC is not investigating it. Perhaps they would if Republicans in leadership were doing it.
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