Nancy Pelosi’s husband is back in the news having made between a $1 million and $5 million investment in a semiconductor company stock ahead of the House and Senate negotiation for a federal subsidy program for US semiconductor companies including the one in which he invested.
Pelosi has a long record of making very fortunate timely purchases all technically just legal enough to avoid an accusation of insider trading. For example, just last year he made $5 million betting on big tech stocks ahead of hearings on big tech antitrust that had not yet been announced to the public. He also made headlines for investing in Visa at the same time they were lobbying Speaker Pelosi against “swipe fee” regulations.
In the current case and in those, technically there is enough public information available that Pelosi could just be making a good bet. But critics argue that he has much deeper personal information about the chances of bill passage and the insider WHIP counts on the support for different legislation that would make his guess a lot better than everyone else’s.
Members of Congress have certain restrictions on financial trading but their families are allowed to trade as members of the public in most circumstances. A lot of Americans think it’s time to increase transparency and limit these kinds of transactions to ensure fairness and to ensure Wall Street isn’t gaming off lawmaking.
Also reminder Paul Pelosi was recently arrested on a DUI.