The fact that President Joe Biden has sent billions to Ukraine in a seemingly fruitless war while in the United States, there are the continuing problems of homelessness and the economy as well as current high prices at the grocery store, destruction of food plants, disasters along train tracks that deliver food, toxic chemicals that have been released in the environment due to those disasters, spy balloons, and more.
It is a continuing thorn in the side of Americans that rather than fix problems, many in congress chose to pad their own pockets. One example of this business maneuvering is the current Speaker of the House of the Senate, Nancy Pelosi.
The Pelosis’ stock trades became a major issue of contention during the latter part of her tenure as Speaker due to trades that were made in a timely manner that either made the couple money or avoided losses, leading to cries of insider trading.
Paul Pelosi sold 25,000 shares of Nvidia at around $165.05 in July, which resulted in a loss for him of $341,365, a set of disclosures showed, Conservative Brief reports.
Business Insider noted further:
Paul Pelosi, the husband of then-Speaker Nancy Pelosi, lost over half a million dollars selling Tesla stock in December as Elon Musk’s electric vehicle and solar panel manufacturer sank amid broader fears about his focus company after his takeover of Twitter. An investor and venture capitalist, Pelosi’s husband is one of the most prodigious traders connected to a lawmaker. He’s made tens of millions of dollars in stock trades during the past few years, congressional records indicate.
In total, Pelosi reported losing over $2.5 million in the final weeks of 2022. His trades appear to be an example of harvesting, an investing strategy where traders sell some investments at a loss in order to lower the taxes they will face for more successful parts of their portfolio.
The appearance of insider trading has not gone unnoticed by Pelosi’s constituents in California. Pelosi has chosen not to run again for reelection, and so her Speaker days are numbered. She has voiced the intention to return to California and work in politics there. Some Californians are calling her out on the finances and the financial situation of the Pelosis.
A Pelosi was recently spotted in her home city of San Francisco having a drink at a local establishment, a male constituent called out to her in an exchange that was caught on video. According to a short video clip posted online, Pelosi appeared to be taken off-guard by a male who asked: “Nancy, can you tell us why we have over $150 billion going to Ukraine when we have homeless on the streets in your own city?”
As others intervened, the man then asked: “Nancy, can I get stock tips on how to get semiconductors in Taiwan?”
Pelosi heckled in San Francisco: “Can you tell us why we have over $150 billion going to Ukraine when we have homeless on the streets in your own city”
— ALX 🇺🇸 (@alx) February 26, 2023
The Pelosi’s finances did take a dive a good final quarter of 2022 in terms of stocks, according to an end-of-the-year financial disclosure form, and they reported losing $2.5 million in stock value, centered mostly around four stocks:
– $853K on PayPal stock
– $733K on Salesforce options
– $500K on Tesla stock
– $235K on Roblox options
The Daily Wire reported:
“One month later, Nvidia revealed that the federal government imposed export restrictions on the company’s A100 and forthcoming H100 circuits. The new regulations will ‘address the risk that the covered products may be used in, or diverted to, a ‘military end use’ or ‘military end user’ in China and Russia,’ Nvidia said in a filing with the Securities and Exchange Commission,” The Daily Wire reported in September.
“Shares in Nvidia fell 7.7% on the news and a total of 16% since Pelosi sold shares on July 26. Pelosi — who was arrested after alleged drunk driving earlier this year — formerly exercised 200 call options on their expiration date of June 17 at a strike price of $100, according to more federal filings,” The Daily Wire said.
The Speaker’s spokesman, Drew Hammill insisted to FOX News that she had no knowledge of her husband’s financial transactions, as that and other convenient stock trades led to bipartisan calls from Congress to ban members from dabbling in the stock market while serving, which then-Speaker Pelosi initially opposed, drawing ire from members of her own party, Conservative Brief noted.
Even Democrats can connect the dots on the Pelosi’s financial shell game, and are calling out the Speaker.
“This moment marks a failure of House leadership — and it’s yet another example of why I believe that the Democratic Party needs new leaders in the halls of Capitol Hill, as I have long made known,” Rep. Abigail Spanberger (D-Va.) said in a since-deleted statement posted to her House website at the time. “It’s apparent that House leadership does not have its heart in this effort, because the package released earlier this week was designed to fail,” she noted further.