Nancy Pelosi STORMS OFF as Accusations Fly!
(UnitedVoice.com) – Accusations of insider trading are nothing new in Congress. Lawmakers have access to a tremendous amount of confidential information that could help them make millions in the stock market. Over the years, members of both parties have faced accusations of doing just that. In January, Speaker of the House Nancy Pelosi (D-CA) announced she would support new legislation prohibiting congresspeople from trading individual stocks, but she clarified she didn’t think it was necessary.
Now, several months later, the Speaker has come under fire for a series of trades her husband, Paul Pelosi, has made in recent years. She stands accused of giving him insider information to help make the couple even wealthier.
Insider Trading Allegations
According to reports, on June 17, 2021, Paul Pelosi made a purchase of between $1 million and $5 million in Nvidia shares, a company that makes computer chips. He purchased the stocks as Congress moved closer to passing legislation that would provide semiconductor manufacturers billions in subsidies. Since his purchase, shares in the company have risen by almost 10%, making him around $500,000.
On July 21, at a press conference, a reporter asked Speaker Pelosi about her husband’s trades and whether he had “ever made a stock purchase or sale based on information” she had given him. She responded, “No, absolutely not,” then walked away from the podium.
NEW – Pelosi says "no, absolutely not" and leaves when asked if her husband ever made stock trades based on information received from her.pic.twitter.com/ay04qa0zl5
— Disclose.tv (@disclosetv) July 21, 2022
Not everyone is buying the congresswoman’s denials.
Accusations Fly
After the press conference, Twitter users weren’t buying the Speaker’s pleas of innocence. Hedge fund manager Peter Tarr laughed about the incident. He told his followers if they believed Pelosi’s denials, they should be ashamed, saying her supporters shouldn’t “complain about politics or corruption.”
🤣"No, absolutely not" ends conference walks away.
I'll refrain from using profanity here but I'm tempted.
If you believe, shame on you x100. Don't complain about politics or corruption. I think they're pretty much all terrible FYI.
"No, absolutely not" 🤦♂️🤣ahhh…sure.
— Peter Tarr (@ProfitsTaken) July 21, 2022
Conservative Andrew Pollack, whose daughter died in a Florida school shooting, accused the Speaker and her husband of making millions from insider trading while the American people are stuck with record inflation.
Nancy Pelosi and her husband make millions off insider trading.
Meanwhile, Americans get 9.1% inflation.
— Andrew Pollack (@AndrewPollackFL) July 16, 2022
Other Conservatives on Twitter responded similarly, making it clear they didn’t buy Pelosi’s protests of innocence.
Solutions
On July 20, the day before Pelosi left the podium, Senator Josh Hawley (R-MO) sent a letter to Senator Gary Peters (D-MI), who chairs the Senate Homeland Security and Governmental Affairs Committee. The conservative lawmaker called for a hearing to discuss a bipartisan proposal to ban members of Congress and their spouses from trading.
In the letter, the senator said it had been half a year since lawmakers proposed the measure, but that didn’t stop Paul Pelosi “from cashing in.” Hawley wants action now.
Do you want Congress to ban members and their spouses from trading?
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