Podcast host Joe Rogan recently criticized U.S. House Speaker Nancy Pelosi and other members of the U.S. Congress for profiting from a form of what he calls insider trading.
“They know laws that are going to be put into place,” Rogan recently spouted on his Spotify podcast.
Rogan pointed out that Pelosi’s husband, venture capitalist Paul Pelosi, owns more than $2.5 million in shares of car maker Tesla.
“How is that not insider training?” quipped his guest, stand-up comedian and 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**k load of stock in electrical vehicles… and the next day the stock goes up,” he said.
“How is that legal?” Rogan questioned, pointing out that Nancy Pelosi is one of the richest members of Congress with a net worth of $114 million.
Paul Pelosi invested up to $1 million in Tesla stock in December — more than a month before President Biden mandated that all federal vehicles transition to electric. When the stock went dramatically up after the news was made public, Pelosi hit the jackpot!
Members of the House are allowed to buy and sell stocks, but are banned from using government information when doing so.
It doesn’t end with Tesla. Pelosi and her hubby have gained as much as $30 million from stock bets on Big Tech over the same time period.
How’s old plastic face get away with it? She doesn’t technically ‘own’ the stocks according to her spokesperson.
“The Speaker does not own any stocks,” said the rep. “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.”
Pelosi had at first been against a ban on Congressional stock trades, arguing in December that lawmakers should be allowed to participate in a “free-market economy.” But after public backlash to those statements, Pelosi suggested she’d be open to stricter rules governing stock trades – including a potential ban.
“They put Martha Stewart in jail for stock trading, remember that?” Rogan laughed.
“If you know that someone’s going to sign a bill and that bill is going to be a massive boost to the electrical vehicle industry, just as an example. How is that not illegal?”
[…] Joe Rogan Rumbles Nancy Pelosi over ‘Insider Trading’ […]