The United States House of Representatives Speaker, Nancy Pelosi, has had her feet held to the fire after she and her husband Paul were accused of insider stock trading.
During an interview with CNBC, former Dallas Fed President Richard Fisher slammed Pelosi over the allegations after it was reported by Punchbowl News that the House Democrats are about to propose new legislation that would ban lawmakers, their spouses and senior staff from trading stocks.
“Clearly people have taken advantage of inside information forever,” Fisher told CNBC.
“I’m sorry to see that Paul Pelosi and Nancy Pelosi and others appear to have taken advantage of inside information.”
This is not the first time that Nancy Pelosi has been accused of partaking in insider trading and her and her husband Paul, came under fire when they bought about 25,000 shares of Nvidia, which they were forced to sell because of mounting pressure about insider trading.
The sell-off came the day before the Senate passed a multi-billion-dollar bill, meant to boost chip manufacturing in the United States, resulting in a $341,365 loss for the Pelosi’s – if they had held out even two days longer, they would have made a huge gain.
Many are saying that the selloff was nothing but a ruse by the Pelosi’s – in an attempt to quash the accusations that were constantly made about the pair.
Zero Hedge reported:
In March of 2021, the Pelosi’s scored $1.95 million on Microsoft call options less than two weeks before the tech giant secured a $22 billion contract to supply US Army combat troops with augmented reality headsets, while in January of the same year, Paul Pelosi bought up to $1 million of Tesla calls before the Biden administration announced plans to push electric vehicles.
The Pelosi’s have also recently sold millions of shares in Visa and Apple calls and of course, Nancy denies that she has done any wrongdoing, which is unsurprising when she was asked by a reporter if she thought that members of Congress should be banned from stock trading, to which she said “no.”
Fact is, Nancy Pelosi is working for only herself and she uses her status as a lawmaker to bolster her profits on the stock exchange. Of course, you are going to have great success with the stock market, when you help control the country and introduce the laws that enable those same businesses to go up in value.
The Democrats continue to show that corruption is alive and well on Capitol Hill and they are the biggest supporters of this corruption to line their own pockets at the expense of hard-working Americans.
It will be interesting to see the upset that the Midterm Elections bring this November, hopefully Nancy Pelosi will be knocked off her crows perch and replaced with someone who has America first and last on their agenda.