Amid renewed questions about her husband’s staggering success in the stock market and suspicions of possible trading on insider knowledge, House Speaker Nancy Pelosi (D-CA) made a swift departure from her weekly Thursday press conference when a reporter asked for comment on the controversy, as Breitbart reports.
During her time at the podium, Pelosi was asked point blank by Fox News Digital whether her husband, Paul Pelosi, had ever engaged in stock transactions after he was privy to the details of relevant developments in Congress that could impact specific companies or market sectors.
“No, absolutely not,” said Pelosi, who quickly, with an exasperated look on her face, pushed away the microphone and bolted from the scene.
The question was posed to Pelosi this week in large part due to recent questions that have surfaced regarding her husband’s recent purchase of 20,000 shares of a company called Nvidia, which is among the world’s most prolific makers of semiconductors.
Such a purchase might not usually be especially noteworthy for someone of Mr. Pelosi’s considerable wealth and securities trading experience, except for the fact that it occurred in advance of an anticipated Senate vote on legislation that would be a boon to domestic producers of semiconductors by providing $52 billion in subsidies and tax credits, as the Daily Caller has noted.
When Paul Pelosi’s transaction became public, Rep. Ralph Norman (R-SC) declared the “optics” of the move to be “horrible,” adding, “[o]bviously, Speaker Pelosi would be aware of the timing of this legislation over in the Senate. On the heels of that vote, for anyone in her orbit to purchase seven-figures worth of stock of a U.S.-based chip manufacturer just reeks of impropriety.”
Adding her voice to those skeptical of the timing of Mr. Pelosi’s wheeling and dealing was former Rep. Tulsi Gabbard (D-HI), who appeared on Fox News’ Jesse Watters Primetime this week and said, “What we’re seeing here is the same thing that I saw when I was in Congress – is this blatant corruption being exposed in broad daylight – the system is rigged.”
“We have people in positions of power to pass legislation, to enact new policies. They can see, ‘OK, here are the industries or companies that will benefit from this. I’m going to go and make these investments, buy this stock or that stock, or have my husband or wife do it and then make money in the process,’” Gabbard added.
Despite such common sense calls to curtail this type of conduct, as Fox News noted, a bill that would prohibit lawmakers and their spouses from trading or holding stocks while in office remains stalled in the House, and it remains unclear whether Pelosi will ever have to face serious questioning over her husband’s latest lucrative – and curiously timed – transaction or many other such deals known to have preceded it.