Democrat House Speaker Nancy Pelosi has defended her husband’s illegal insider trading deals, arguing that fact-checkers have given her a free pass to do as she pleases.
Paul Pelosi recently purchased millions of dollars worth of shares in a computer chip company just before Congress is due to vote on an unprecedented multi-billion dollar subsidy bill for the industry.
For any other politician, this would be considered insider trading and result in jail time. But when you are an elite Democrat, the rules change.
Left-wing “fact checkers” will argue that it isn’t insider trading because Nancy Pelosi isn’t the person physically pressing the button on the trades. And they claim that her assurances that she and her husband do not discuss how Congress will vote in private is enough proof that the Pelosi’s are squeaky clean.
According to these corrupt Democrat-supporting “fact checkers,” Paul Pelosi is just incredibly lucky when it comes to investing.
The company specializes in designing and selling computer technologies that use semiconductor chips. NVIDIA uses fabless manufacturing, which means the company outsources the fabrication of the semiconductor chips themselves.
What made the transaction newsworthy is that it came weeks before Congress is expected to vote on a bipartisan legislation that would allocate $52 billion in taxpayer subsidies to help boost domestic production of semiconductor chips. Competing with China to produce the technology became a priority when the COVID-19 pandemic exposed American dependence upon Chinese production.
Speaker Pelosi’s office released a lengthy statement denying Speaker Pelosi had any involvement in the transaction.
“The Speaker does not own any stocks. As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse,” said spokesman Drew Hammill. “The Speaker has no prior knowledge or subsequent involvement in any transactions.”