There are several ways to make a lot of money in life, be successful, and be respected by your peers. One way is to get an education, continue sharpening your skills, and make yourself a valuable employee. Another way is to become an entrepreneur. Work hard. Be innovative and strategic and fight through difficulties; you can run your own business and have a fulfilling life. A third way is you could marry Nancy Pelosi. Well, you’d at least become rich, but when you have access to the kind of cash flow that life provides, who cares about the respect part? Right, Paul?
The husband of the former speaker of the house is popping some bubbly tonight, you would think, after he exercised call options on between $1 – $5 million worth of Alphabet stock. Why now, you ask? Wouldn’t it make more sense to let Google get out of its funk and have the stock rebound? No, he originally purchased the right to buy Google stock at a set price in December 2021. What was revealed in an official congressional disclosure by Nancy is that he exercised the call options one week before a bill that would ban the trading of stocks by members of Congress and their spouses. A bill that Nancy backed.
The bill is called the Combatting Financial Conflicts of Interest in Government Act. Lawmakers in congress, federal justices, Supreme Court justices, members of the Federal Reserve System’s Board of Governors, and even the president and VP all fall under the bill’s jurisdiction.
Oh, and talk about great timing. Pelosi sold those 30,000 shares of Google from December 20 to December 28th. On Monday, the Justice Department and attorneys general from a handful of states, including California, where Google is located, sued Google. They claim the company has a monopoly on the digital ad market.
Paul is sharp. He deftly saved about $600K last June when he sold shares of Nvidia just weeks before the government placed restrictions on that company’s business operations in China and Russia.