Washington has an insider-trading problem

Meanwhile, the winning trades of Speaker of the House Nancy Pelosi have become so legendary they have inspired social-media accounts with large followings. On TikTok — for both ironic and unironic reasons — the 81-year-old California Democrat’s investments are a subject of viral interest. One widely viewed video described her as “the stock market’s biggest whale.”

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Pelosi has come under scrutiny several times, including for purchases of Tesla stock made by her husband a little more than a month before President Joe Biden announced an executive order requiring that all federal vehicles must be electric. And last summer, her husband exercised call options worth $5.3 million to buy shares of Google parent Alphabet just before the House Judiciary Committee passed a series of tech antitrust bills so mild the market yawned.

Calling Pelosi a stock-market whale may be hyperbole, but it does capture something. While the data is dated, one analysis showed that lawmakers’ stock trades were 20 percent more profitable than those of other individuals with trades by Republicans 35 percent higher.

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