Nancy Pelosi stock tracker: Pelosi criticized for husband’s insider trading…The husband of Democratic House Speaker Nancy Pelosi, Paul Pelosi, bought more than $1 million worth of stock in a computer chip company just weeks before a possible congressional vote that would bring the industry a massive subsidy.
According to a disclosure file filed by Pelosi’s office, Nancy Pelosi’s husband Paul Pelosi bought between $1 million and $5 million in stock in Nvidia, a semiconductor company. He exercised 200 call options, or 20,000 shares, the disclosure shows. Reuters reported that the Senate could vote, on a bill that includes billions of dollars in subsidies to the semiconductor industry since July 19.
The bill would potentially see up to $52 billion in chip subsidies and tax credits to make the industry more competitive with China. Congress intends to pass the bill and send it to President Biden’s desk before he goes on his August recess. Craig Holman, a Capitol Hill lobbyist for Public Citizen, a leftist think tank, recently told the Daily Caller News Foundation that the revelation was troubling.
“It certainly raises the specter that Nancy Pelosi’s husband Paul Pelosi could have access to inside legal information said, Holman. “That’s why there is a stock trading app that only monitors Paul’s trading activity and his followers do the same. The disclosure also reveals that Pelosi sold some Apple and Visa stock.
Nancy Pelosi’s office answered questions about controversial deals related to her husband’s stock purchase ahead of the congressional vote on the semiconductor industry. You can see in the required details with which the speaker is fully cooperating, that these transactions are marked ‘SP’ for spouses. The spokesman has no prior knowledge of or subsequent involvement in
transactions,” Drew Hammill, spokesman for Nancy Pelosi, said in a statement to FOX Business.
Hence, referring to various proposals by members of Congress to ban the trade, Hammill stated that “at least three related proposals have been tabled in the House of Representatives and the President has asked the House Administrative Committee to consider those proposals,” adding that FOX Business “should check with the committee at the latest.”
The President believes sunlight is the best disinfectant. The President has asked House Administration Committee Chair Zoe Lofgren to address the matter of members’ unacceptable failure to comply with the reporting requirements of the STOCK Act including the possibility of increasing sanctions,” Hammill said.
“To be clear, insider trading is already a serious federal criminal and civil offense, and the President strongly supports strict enforcement of the relevant laws by the judiciary Ministry and the Securities and Exchange Commission. “, he added. “The President led the House in passing the bipartisan Courthouse Ethics and Transparency Act, which would subject federal judges to similar disclosure requirements as the STOCK Act President Biden signed that law into law in May.
On July 18th, Rep. Jamie Comer (R-KY-01) criticized Paul Pelosi over his multi-million dollar purchase of computer chip stock. Nancy Pelosi was criticized for the actions of her husband and accused of inside trading.
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