Friday, November 18, 2011

Throw the Witch In Jail

Pelosi Leads List Of Conflict Of Interest Dems - Latest Headlines - Investors.com: "After a Pelosi staffer left to lobby on behalf of credit-card giant Visa, Pelosi delayed bringing to the House floor a bill to end lucrative "swipe fees" for Visa and other credit providers.

The bill couldn't have come at a worse time for Visa. It planned to launch an $18 billion public stock offering, so stalling Hill action became a priority. The San Francisco-based company curried favor with Pelosi by pumping cash into her re-election efforts, earning its CEO a rare one-on-one meeting with the speaker.

At the same time, Visa offered her husband a VIP cut of the IPO. Paul Pelosi jumped at the offer, buying 5,000 shares at the $44 initial price. In a couple of days, the shares soared to $64. Pelosi later bought 15,000 more, raising the total value of his investment to about $5 million. In the end, the legislation Visa fought starting in 2007 was forestalled two full years."
Surely I didn't forget to mention that she should be in jail?