Coincidence? Possibly an insider tip? But how could anyone be aware of the timing of the upcoming legislative information?
Somehow the Pelosi’s always know when to invest. Suspicions of insider trading have been around for years.
According to House Speaker Nancy Pelosi’s financial disclosure report released on Thursday, her husband Paul Pelosi bought up to $5 million in stock of a company that makes computer chips just days before a crucial vote on chip subsidy that would hand billions in subsidies to boost chip manufacturing.
Paul Pelosi purchased 20,000 shares of Nvidia, one of the world’s largest semiconductor companies, on June 17, according to the Speaker’s disclosure report.
Voting in the Senate on the bipartisan competition bill to boost the U.S. semiconductor industry and improve competitiveness with China could begin as early as Tuesday. This would allocate $52 billion to scale up U.S. semiconductors manufacturing and give tax credits for production to improve competitiveness with China, Reuters reported Thursday.
The legislation would be a condensed version of a bill the Senate passed in June 2021 that included $52 billion for chip subsidies and authorized another $200 billion to boost domestic scientific and technological innovation to compete with China.
However, that bill never became law. The House of Representatives never took it up, instead passing its version in February, similar to the Senate’s measure but also included several trade proposals.
It is not the first time 100 Percent Fed Up has reported on Nancy’s husband’s stock activities. On July 9, 2021, our headline read:
Hmmm…Nancy Pelosi’s Husband Makes Over $5 Million In Big Tech Stocks…Days Later, Pelosi-Led House Moves To Advance 5 Anti-Trust Bills To Reign In Big Tech
A portion of the article below seems relevant today:
….why is Nancy’s husband selling his shares in big tech stocks only days before his wife, arguably the most powerful woman in Congress, was moving to advance several anti-trust bills related to big tech only days after he cashed in on the shares?
New York Post reports – House Speaker Nancy Pelosi’s husband purchased upwards of $11 million in major tech stocks in May and June that, quickly earning him over $5 million in profit-making the moves as his wife’s chamber ostensibly works to pass a series of bills reining in Big Tech.
Paul Pelosi, a venture capitalist with a net worth valued at over $100 million, exercised 40 call options to acquire 4,000 shares of Alphabet, the parent company of Google, at a $1,200 strike price, according to a financial disclosure report signed by the House speaker last Friday.
Paul Pelosi gained $4.8 million as an immediate result of the trade, though his returns have grown since the June 18 transaction to $5.3 million.
The disclosure report from Speaker Pelosi (D-Calif.) also revealed that her husband purchased 20 call options for Amazon at a strike price of $3,000 a share, as well as 50 call options for Apple for $100 a share, though he did not report exercising those trades.
Yet Another Coincidence?
Again, 100 Percent Fed Up reported on October, 11, 2021
Here’s How Nancy Pelosi Got So Rich Off Of A Government Salary:
Watters says the secret to Pelosi’s success is her husband, Paul. WATCH:
Claims are also being made that the Speaker would have known about the timing of the bill.
Expressing doubt over Paul’s purchase of chip stocks, Republican South Carolina Rep. Ralph Norman told the DNCF that the “optics” of Pelosi’s stock disclosure “are horrible.”
“Obviously Speaker Pelosi would be aware of the timing of this legislation over in the Senate,” said Norman. “On the heels of that vote, for anyone in her orbit to purchase seven-figures worth of stock of an U.S.-based chip manufacturer just reeks of impropriety.”
Craig Holman, a government affairs lobbyist for the left-wing think tank Public Citizen, told the Daily Caller that chip stocks purchase certainly raise the specter that Paul Pelosi could have access to some insider legislative information.
This is the reason “why there is a stock trading app that exclusively monitors Paul’s trading activity,” and then its followers do likewise, according to Holman.
Nancy Pelosi Would Be Aware Of Timing of Legislation
Today, the House takes action to transport our nation into the future, with the #AmericaCOMPETES Act: bold, results-oriented legislation that will strengthen America’s national and economic security and the financial security of families, and advance our leadership in the world. pic.twitter.com/rGQHSadED1
— Nancy Pelosi (@SpeakerPelosi) January 25, 2022
Lawmakers hope to pass the legislation and send it to the White House for Biden to sign into law before they leave Washington for their annual August recess.
“We want as robust of a bill as possible,” U.S. Commerce Secretary Gina Raimondo told reporters following a closed briefing with some members of the House of Representatives. When asked if a scaled-back measure would be acceptable, Raimondo replied: “If that’s what the members of both the House and the Senate feel is possible, then let’s get it done.”
100 Percent Fed Up reported on Paul Pelosi, who was charged with two alcohol misdemeanors in June after a driving collision that led to his arrest. We will continue to keep you updated on both stories.