As Speaker of the House, Nancy Pelosi Bought $1 million to $5 million of Visa Stock while Blocking Credit Card Reform

14 Monday Nov 2011

Posted by bydesign001 in Uncategorized

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Dirty bureaucrats, Dirty Politicians, Government corruption, Government coverups, Govt Regulation, IPO, VISA

The Wicked Witch of the West must resign and take her gavel filled with botox with her.

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BIG GOVERNMENT

“…In early 2008, Nancy Pelosi and her real estate developer husband, Paul, were given an opportunity to buy into a Visa IPO. It was a nearly impossible feat–one that average citizens almost certainly could never achieve. The vast majority of purchase opportunities went to institutional investors, large mutual funds, or pension funds.

Despite Pelosi’s consistent railing against credit card companies, on March 18, 2008, the Pelosis bought between $1 million and $5 million (politicians do not have to report the exact amounts, only ranges) worth of Visa stock at the IPO price of $44 per share. Two days later, the stock price rocketed to $65 per share, yielding a 50% profit. The Pelosis then bought Visa twice more. By their third purchase on June 4, 2008, Visa was worth $85 per share…”