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Pelosi’s husband responds to uproar over his computer chip stock purchase

Nancy Pelosi’s office said it had no prior knowledge of or involvement with any stock transactions after a financial disclosure report showed that her husband, Paul Pelosi, had purchased up to $5 mil

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Following revelations that Nancy Pelosi’s husband Paul purchased up to $5 million in shares of a leading semiconductor company just days before the Senate is set to vote on a bill that would benefit the U.S. chip manufacturing industry, the office of Nancy Pelosi stated that the House speaker had no prior knowledge of or involvement with any stock transactions at the time.

Additionally, the disclosures indicate that the transactions are earmarked for the spouse of the California Democrat.

Prior to this week’s $52 billion vote in the Senate, Pelosi’s husband purchased computer chip stock.

“In other words, the Speaker has no investments. These transactions are designated ‘SP’ for Spouse, as evidenced by the required disclosures, with which the Speaker has complied fully. As far as transactions are concerned, the Speaker has no prior knowledge of them “a spokesman for Nancy Pelosi told the Washington Examiner, Drew Hammill.

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As a longtime stock trader, Paul Pelosi recently bought and sold 20,000 shares of Nvidia around the same time that he sold shares of Apple and Visa. His purchases totaled between $1 million and $5 million. Whether Paul Pelosi was aware of the pending legislation was called into question in light of the revelation.

As the American people suffer from inflation and watch their investments continue to plummet, the fact that the Pelosis are profiting, according to Rep. Elise Stefanik (R-NY), the purchase “stinks to high heaven.” Stefanik told Fox News that the move “stinks to high heaven.”

Additionally, Nancy Pelosi asked the House Administration Committee to review proposals on stock trading reforms for Congress, according to Hammill.

“He believes that exposure to the sun’s rays is the best medicine. As a result, Speaker Pelosi has tasked Chairwoman Zoe Lofgren and the Committee on House Administration to investigate the issue of Members failing to comply with the STOCK Act’s reporting requirements, “As Hammill put it:

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The committee has heard a proposal that would limit trades and ownership of certain financial interests for members of Congress, their spouses, and their minor children, among other things..

In June 2021, the U.S. Innovation and Competition Act was passed by both the House of Representatives and the Senate with bipartisan support. America COMPETES Act was passed by the House of Representatives in February.

More from the WASHINGTON EXAMINER can be found here.

It is expected that the Senate will vote on the new legislation in the coming days, which would provide $52 billion for US semiconductor manufacturing. It will also have to pass through the House of Representatives before it reaches the desk of President Joe Biden.

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The Washington Post Nancy Pelosi, Trade, News, and Money

Abigail Adcox is the original author.

The original location is: The staff of Nancy Pelosi responds to the outcry over her husband’s purchase of computer chip stock.

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