Nancy Pelosi is blaming conservative media outlets for a million-dollar loss on a recent stock purchase.
After immense backlash, the Pelosi Crime Family decided to offload their stocks in a microchip company just as the House of Reps. is set to vote on the CHIPS Act — a bill that rewards corporations with tax subsidies for semiconductor manufacturing.
Paul Pelosi prematurely sold $4.1 million in Nvidia stocks, which did serious damage to his portfolio.
Paul Pelosi lost $341,365 in the transaction, selling 25,000 shares, according to the filing. Shares have since jumped 7.8%, Forbes reported.
“Mr. Pelosi decided to sell the shares at a loss rather than allow the misinformation in the press regarding this trade to continue,” Drew Hammill, Nancy Pelosi’s deputy chief of staff, said in a statement.
Paul Pelosi, who owns a San Francisco-based investment and consulting firm, and his wife faced backlash after it was revealed in a disclosure report filed by his wife that he bought massive shares in the semiconductor company days before the Senate was scheduled to vote on a bill that would give billions in subsidies to semiconductor producers. Other trades included those involving Apple and Visa.
The speaker has denied any wrongdoing in connection to her husband’s stock purchases.
“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. The Speaker has no prior knowledge or subsequent involvement in any transactions,” Hammill said earlier this month.
The legislation in question passed on Wednesday and now moves to the House. “The House Rules Committee will meet shortly to take up the CHIPS and Science Act. Then, the House will proudly pass this essential legislation and send it to President Biden to be signed into law,” the speaker said in a statement.
The Pelosi Crime Family insider trading scheme prompted Republican lawmakers to renew calls to outlaw stock purchases for lawmakers and their immediate families, a move Nancy Pelosi (obviously) doesn’t support.
Meanwhile, the Democrat Party is slowly but surely alienating itself from working-class Americans — a group typically supportive of their liberal policies.
Nancy Pelosi, Joe Biden, and other leading Democrats have proven themselves to align more closely with the wealthy global elite, far removed from any actual issue average American face today.
Author: Elizabeth Tierney