Pelosi has been cashing in for years.
During a recent media appearance, GAI President and best-selling author Peter Schweizer stressed that insider trading by lawmakers on the Hill is not a red or blue problem — it’s a green problem.
“I’ve been on this topic since 2011,” Schweizer stressed. “All that we’re really calling for is that members of Congress, they don’t have to not be involved in the stock market, but they have to invest in broad index funds.”
Schweizer continued: “And if they do that, they’re going to do just fine. The problem is that a lot of them do much, much, much better than the broader market over the last ten years. For example, the S&P index is up about 250%. So, a very good rate of return. Nancy Pelosi’s portfolio is up 723%.”
“If you look at the best minds on Wall Street, if you look at the Warren Buffetts of the world, less than 5% of them beat the market. Less than 5% of them would do better than that 250%. I don’t think any of them have done 723%. And so the question is, is why?”
Schweizer exposed this behavior in his 2011 book Throw Them All Out, which exposed members of Congress actively trading on stocks after coming out of hearings where they got confidential reports about market-moving events. His exposé led to the passage of the STOCK Act in 2012.
Watch the clip above.
