Podcast Host Joe Rogan called out Pelosi for getting defensive over insider trading. Recently Pelosi was asked if Congress members should be able to invest in the stock market when they can easily manipulate the market in their favor. Pelosi of course felt they should, she has over $50 Million in the market right now.
Rogan began, “Did you see Nancy Pelosi defend insider trading? … Think about how much money she’s worth. She makes like how much a year? How much does she make a year?” The group looked it up and Pelosi makes $223,000 a year.
Rogan blasted politicians for using the system to get rich after they leave office. “They make their money when they get out,” Rogan said. “What it is is [it’s] like an investment, if you get out you will have money for speaking engagements with all the companies that you helped, all the companies that you like, ‘Hey, I like you. I like you. Let’s hang out, let’s party.’ They’re like, ‘Hey, Mike. Mike the former president, we’d love to have you come speak at our conference, and we’re willing to pay you a half a million dollars.’ So this [it’s] like weird bribes.”
Rogan, had one of his producers play the clip of Pelosi commenting on members of Congress trading stock, to which Rogan responded, “Have you ever seen a person look more nervous?”
“She’s giving this like very simplistic, almost vague answer,” he continued. “Because should you be allowed to participate in the stock market when you’re influencing the direction of the stock or when you know which direction something’s going to go in? Or when you’re going to pass a law that’s going to benefit these businesses, that’s going to force the stock to go up, and you know that, so you invest a sh*t ton of money before it happens? That seems like a problem. That seems like it’s a problem. Now, why is that not a problem? Because we’re f***ing co-opted.”
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That’s a bogus excuse. Congress has the means to make or break companies and can easily cause a stock to rise or fall. Letting them have access to the market is letting them capitalize on their position. It’s by no means fair and we usually put people in jail for what they are doing, which is basically insider trading.