Does Congresswoman Nancy Pelosi have no shame? She was pointed out recently on the 60 Minutes report about insider trading going on in Congress and in her response through her spokesperson, he diverted and accused others of doing much worse. Her spokesperson also did not even respond to the direct allegations and ended up calling the author writing a book on this whole scandal and bringing these charges to light, a discredited author. The source of the so-called discreditation is a minor inaccuracy in an article in USA Today where Peter Schweizer (the author in question) said Al Gore was receiving royalties for leasing out a dirty zinc mine on his property. The mine had been closed for 3 years at the time of the article in USA Today. However, Gore did receive royalties for years when the mining company failed environmental tests on his property.
Secondly, Pelosi made sure legislation concerning ending swipe fees for credit card companies did not make it to the floor of the House before the big Visa IPO. Visa then offered her husband an insiders cut of their IPO to the tune of 5,000 shares and then a further 15,000 shares. Nancy Pelosi’s spokesperson, Drew Hammill, in a blatant obfuscation of the facts said that the legislation in question was passed out of committee on October 3, 2008 also while the Congress was busy working on TARP legislation. Well, that’s great Mr Hammill, the Visa IPO took place on March 18, 2008 almost 7 months before the legislation passed committee and 2 years before the Credit Card Holders Bill of Rights became law.
The point is, Pelosi spokesperson Drew Hammill never addresses whether or not the Speaker of the House at the time of the Visa IPO profited from insider information or acted favorably towards the company by making sure damaging legislation did not pass out of committee to be voted on by the full House. Your point Mr Hammill, is moot!
These are the actions of an out of control congress addicted to spending, money, congressional perks and being just plain greedy. The hypocrisy of our leaders is astounding and this is a scandal that should bring down Congress and get every member, be they Democrats or Republicans, kicked out of their cushy jobs. Are we to really believe that any legislator acting on this kind of insider trading information is really for the people? How could any moral thinking member of Congress take advantage of insider trading information when they know that the same people who put them in office would be thrown in jail if they were to act on that exact same information?
Those Congress members who are involved in this Wall Street stock insider information scam may have not technically broken the law, but they have broken the spirit of the law and the trust of the American people and they should all lose their jobs for it. Shame on you Congress and shame on you Nancy Pelosi.