How do you get a job where you get to make the American taxpayer guarantee a return on your investments?
Speaker Nancy Pelosi has introduced legislation that will financially benefit a pharmaceutical company that she owns stock in and another that has donated heavily to her campaign and employs two of her former senior staffers as lobbyists.
Pelosi has a $500,000 investment in a pharmaceutical company (Johnson & Johnson) that will benefit financially from her new bill and will also help another firm (Amgen) hit hard when the U.S. government announced a cutback in taxpayer-finance coverage of its drug to treat low-income people infected with the Human Immunodeficiency Virus (HIV). Amgen, which employs several Pelosi former staffers as lobbyists, announced layoffs because its revenue dropped dramatically. The firm has donated big bucks to the House Speaker over the years.
Pelosi’s bill will expand government funding of the drugs made by Amgen and Johnson & Johnson. Because she’ll benefit, it’s a clear violation of House ethics rules.
Will the media notice?