The Pelosi family is at it again. Paul Pelosi bought $5 million worth of stock in a semiconductor company just before the Senate is expected to vote to give a $52 billion subsidy to the semiconductor industry.
This isn’t the first time that Paul has displayed this type of corrupt behavior. In 2021, Paul bought 4,000 shares of Alphabet in June, which was just before Congress voted on an anti-trust bill that would curb unregulated power on tech companies. It was reported that Paul profited $4.8 million initially and made approximately half a million after that.
According to a disclosure, on June 17, Paul bought 20,000 shares of Nvidia, a semiconductor company, worth between $1 million and $5 million.
The disclosure also revealed that Paul sold 10,000 shares of Visa worth between $1 million to $5 million and 50 call options of Apple worth between $100,000 to $250,000.
Craig Holma, a government affairs lobbyist for Public Citizen, a left-wing think tank, told the Daily Caller News Foundation, “It certainly raises 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.”
If Paul made these decisions on his own, he would likely be one of the luckiest men alive. These decisions weren’t based on a guess, there’s more to it than that.
Rep. Ralph Norman (R-SC) told the Daily Caller, “Obviously 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.”
Speaker of the House Nancy Pelosi opposed a ban on lawmakers and their spouses trading stocks. Nancy said, “We’re a free-market economy. They should be able to participate in that.”
With the amount of money that the Pelosis are making on stocks, it’s not surprising that Nancy would be opposed to banning lawmakers from trading stocks.
Nancy is one of the top earners in stock trades among politicians, but she certainly isn’t the only one. A mix of Republicans and Democrats made massive profits in 2021 and beat the stock market with very accurately timed trades that should make all voters question politicians’ ability to play the market fairly.