Pelosi Addresses Husband’s Eyebrow-Raising Stock Purchase
ON THIS DAY IN HISTORY…
1848: 1st US women’s rights convention held in Seneca Falls NY, organized by Elizabeth Cady Stanton and Lucretia Mott.
Paul Pelosi, the husband of House Speaker Nancy Pelosi (D-CA), purchased more than $1 million shares of computer chip company Nvidia just weeks before Congress is slated to vote on a bill that would bolster the industry.
According to a disclosure filed by Pelosi’s office, Mr. Pelosi purchased 20,000 shares of Nvidia, a semiconductor company. The Senate will soon vote on a bill that could provide up to $52 billion in subsidies to the semiconductor industry, Reuters reported.
Mr. Pelosi’s stock purchase raised eyebrows. Public Citizen lobbyist Craig Holman told the Daily Caller News Foundation that the disclosure was cause for concern.
“It certainly raises the specter that Paul Pelosi could have access to some insider legislative information,” Holman said. “This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity and then its followers do likewise.”
Fox Business asked Pelosi’s office to comment on her husband’s purchase.
“The Speaker does not own any stocks. As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions,” said Drew Hammill, a spokesperson for Pelosi.
“The Speaker believes that sunlight is the best disinfectant. The Speaker has asked Committee on House Administration Chair Zoe Lofgren to examine the issue of Members’ unacceptable noncompliance with the reporting requirements in the STOCK Act, including the possibility of stiffening penalties,” Hammill said.
“To be clear, insider trading is already a serious federal criminal and civil violation and the Speaker strongly supports robust enforcement of the relevant statutes by the Department of Justice and the Securities and Exchange Commission,” he added.
“The Speaker led the House in passing the bipartisan Courthouse Ethics and Transparency Act, which would subject federal judges to similar disclosure requirements as those in the STOCK Act. President Biden signed this bill into law in May.”
Still, some lawmakers take issue with the purchase.
“Nancy Pelosi is the ultimate insider. Not only is her husband buying stock options on a much higher level than the average member of Congress,” said Rep. James Comer (R-KY).
“The average member of Congress may buys $5,000 or $6,000 of stock. He’s buying $500,000 worth of stock. He’s buying stock options which expire. To be able to trade stock options profitably, you have to know exactly which direction that stock’s going to move, and you can make a huge profit. This is wrong. This is another example of the media turning a blind eye to Nancy Pelosi’s bad behavior and unethical behavior,” Comer said.
California is a Community Property State. Therefore Nancy ‘owns’ one half of all of Paul’s stock. She can play word games all she wants, but she is still owner of one half of the stock. The common people are sent to jail for insider trading, but the elites are never held accountable. This is not he first time the Pelosi’s have dome this, it is just the latest. She should be stripped of her Speakership until such time that this is settled in court, but this administration never applies the law to a member of their political party, but makes home raids on members of the opposition.
Amen ! Everyone in Congress needs to be checked out as far as access to insider information! Fancy Nancy is lying to everyone! She is still doing this and thumbing her nose at the law
Pisslossi insider trading? Only for several years running! Hottest stock tip? Buy what paul pelosi buys! Lesser dummyrats could end up in the pen, but keep her in office.
Shocking just shocking, yeah right.
It’s shocking just shocking, yeah right.
Really not shocking, folks, but it is unethical and illegal nonetheless. Pelosi — both Mr. and Mrs.– should be prosecuted to the fullest extent of the law and she should be forced to resign from the House of Representatives. This kind of illegal behavior simply should not be tolerated by anyone.
Does anyone think the House Ethics Committee or the Department of Justice will take action? Not until November or January 2023, at least. Isn’t this disgusting?
Yes it is! She knew it was wrong! There is a law on the books already! She knows that it was wrong she is just sorry she got caught ! She has no shame !