"The Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64."

As CBS reported, current insider trading laws do not apply to nonpublic information about current or upcoming congressional activity. In other words, lawmakers can go into confidential meetings with corporate leaders, understanding new legislation is going to come out next week, and are free to trade on that information. This form of "insider trading" is one of the reasons why there are so many wealthy members of Congress, CBSNews.com reported earlier this year.

As Steve Kroft reported on "60 Minutes," Pelosi is one of many lawmakers whose stock market trades could have been seen as a conflict of interest. The former speaker and her husband have participated in at least eight IPOs, one of which was from Visa in 2008 - just as a troublesome piece of legislation that would have hurt credit card companies began making its way through the House. The Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64.

https://www.cbsnews.com/news/new-details-on-visas-attempt-to-influence-pelosi/

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Comment by Boris on January 17, 2019 at 8:17pm

Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64

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