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Last post 22 months ago by BuckyB93. 17 replies replies.
Rules For Thee, Not For Me
DrMaddVibe Offline
#1 Posted:
Joined: 10-21-2000
Posts: 55,301
Nancy Pelosi Urges Support Of $50 Billion 'CHIPS' Bill Hours After Disclosing $8 Million Nvidia Stake



Oh, look: Nancy Pelosi is pushing legislation that stands to benefit her significantly thanks to a couple of brand new, multi-million dollar trades she has made.

Stop us if you've heard this one before...

This past week it hit the terminal that House Speaker Pelosi was doing a little portfolio re-jiggering, including exercising $8 million of call options in Nvidia and selling Apple and Visa calls. The data was per CongressTrading.com and was reported on by Bloomberg.

The Nvidia LEAPS were bought June 3, 2021 with $100 strikes, set to expire June 17, 2022 and the position appeared to be disclosed on Thursday morning for the first time. $8 million trades seem a little odd for members of Congress to begin with, but who are we to judge?

But then, what did Speaker Pelosi do just hours after disclosing the trade, on Friday? She threw her weight behind a stalled $50 billion CHIPS PLUS bill that "would provide $52 billion in funding for semiconductor manufacturing grants and investment tax credits for the chip industry," according to RollCall.com.

Pelosi said last week: “We had been working constantly on the chips bill. And we need to have the transformative nature of research and education and the rest to make us continue to be preeminent in the world. How it shapes up in the next short period of time, we’ll see. But we are determined that we will pass a bill.”

"Democrats are 'more interested in' a chips-plus bill than a chips-only measure," Pelosi added, according to the Roll Call report.

Yeah...interested in that and buying super yachts. Let us guess: the unrealized gains tax won't be supported by Pelosi until she cashes out of the market altogether, either...


https://www.zerohedge.com/markets/nancy-pelosi-throws-her-support-behind-50-billion-semiconductor-bill-hours-after-disclosing



Why they oughta make it a crime or something...oh wait...
bgz Offline
#2 Posted:
Joined: 07-29-2014
Posts: 13,023
She moved some sh*t around last week... Added more nvda...


Needless to say, I bought some nvda first thing this morning.

Pelosi tracker FTW!!!
RayR Offline
#3 Posted:
Joined: 07-20-2020
Posts: 8,796
Ah...the never-ending adventures of the Pelosi Crime Family. So Paul Pelosi just happened to purchase millions of dollars of NVIDIA stock ahead of the fascist bill that Nancy wants to now push through congress posthaste. Isn't that special.

Quote:
"It certainly raises the specter that Paul Pelosi could have access to some insider legislative information,” Craig Holman, a government affairs lobbyist, told the Daily Caller. “This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity and then its followers do likewise.”



Pelosi's husband buys computer-chip stock ahead of $52B Senate vote this week

https://www.msn.com/en-us/news/politics/pelosi-s-husband-buys-computer-chip-stock-ahead-of-52b-senate-vote-this-week/ar-AAZEg2M
bgz Offline
#4 Posted:
Joined: 07-29-2014
Posts: 13,023
You didn't buy your semiconductors today?

Are you nuts?
rfenst Offline
#5 Posted:
Joined: 06-23-2007
Posts: 39,100
Legislator's money should be in a blind trust.

But, do we require their spouse to do that too? It's certainly "cleaner" if we do, but should the rule cover spouses, kids and grandkids?
HockeyDad Offline
#6 Posted:
Joined: 09-20-2000
Posts: 46,065
bgz wrote:
You didn't buy your semiconductors today?

Are you nuts?


When they make the corruption this obvious sometimes all you can do is go along for the ride. Might as well get a piece of the action.
RayR Offline
#7 Posted:
Joined: 07-20-2020
Posts: 8,796
bgz wrote:
You didn't buy your semiconductors today?

Are you nuts?


So you are playing tag along with Pelosi?
So you are hopeful and a cheerleader for the fascist $52 billion influx of taxpayer’s money into the coffers of some very profitable semiconductor companies?
That's very uncapitalistic of you Ben.
But I'm not surprised that you are a fan of crony capitalism.


HockeyDad Offline
#8 Posted:
Joined: 09-20-2000
Posts: 46,065
Democrat Culture of Corruption
bgz Offline
#9 Posted:
Joined: 07-29-2014
Posts: 13,023
RayR wrote:
So you are playing tag along with Pelosi?
So you are hopeful and a cheerleader for the fascist $52 billion influx of taxpayer’s money into the coffers of some very profitable semiconductor companies?
That's very uncapitalistic of you Ben.
But I'm not surprised that you are a fan of crony capitalism.




Actually by definition it is highly capitalistic... Trying to capitalize on the spike.
RayR Offline
#10 Posted:
Joined: 07-20-2020
Posts: 8,796
bgz wrote:
Actually by definition it is highly capitalistic... Trying to capitalize on the spike.


Don't play your word games with me. Your greed and your nascent support for political class corruption are contributing to the decay of Western civilization.
bgz Offline
#11 Posted:
Joined: 07-29-2014
Posts: 13,023
RayR wrote:
Don't play your word games with me. Your greed and your nascent support for political class corruption are contributing to the decay of Western civilization.


Why do you hate Nvidia?
RayR Offline
#12 Posted:
Joined: 07-20-2020
Posts: 8,796
bgz wrote:
Why do you hate Nvidia?


Is straw manning all you've got you morally corrupt corporate welfarist? ram27bat
bgz Offline
#13 Posted:
Joined: 07-29-2014
Posts: 13,023
RayR wrote:
Is straw manning all you've got you morally corrupt corporate welfarist? ram27bat


I get it... You're not a gamer.
rfenst Offline
#14 Posted:
Joined: 06-23-2007
Posts: 39,100
RayR wrote:
Don't play your word games with me. Your greed and your nascent support for political class corruption are contributing to the decay of Western civilization.

Do you hold any stocks or mutual funds?
RayR Offline
#15 Posted:
Joined: 07-20-2020
Posts: 8,796
rfenst wrote:
Do you hold any stocks or mutual funds?


Yes I do. What of it?
Mr. Jones Offline
#16 Posted:
Joined: 06-12-2005
Posts: 19,359
Never heard of Nvidia
BuckyB93 Offline
#17 Posted:
Joined: 07-16-2004
Posts: 14,111
Probably the world's leader in designing graphic processing units (GPUs) and software primarily for gaming systems and other graphical intense systems. Their stuff is also used in many other areas where high performance processing is needed (artificial intelligence, engineering, automotive...). Nvidia is the 10th largest US company based on market cap.

The semiconductor sector as a whole was rather flat today with the exception of Nvidia which gained about 2 points.
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