The Joys of Crony Capitalism

Three years ago, then-House Speaker Nancy Pelosi and her husband, Paul, made Hillary Rodham Clintonâ??s success with cattle futures look like a childâ??s lemonade stand. The credit card giant Visa was holding an initial public offering, among the most lucrative ever seen. The Pelosis were granted early access to the IPO as â??special customersâ? who received their shares at the opening price, $44. The lucky investors turned in a 50 percent profit in just two days.