July 16, 2022
Pelosi’s husband invests millions in a tech stock prior to a vote on chip subsidy bill
By Rajan Laad
According to the House Speaker’s disclosure report published a few days back, House Speaker Nancy Pelosi’s husband Paul invested $5 million in 20,000 shares of NVIDIA.
NVIDIA is one of the world’s leading manufacturers of advanced computer processors, which are highly dependent on semiconductors.
Paul was recently in the news for being charged with misdemeanor driving under the influence in connection to a car crash in Northern California.
Like every other citizen, Paul Pelosi is allowed to invest his money where he desires. It should be none of anybody’s concern.
However, in this particular case, there is an obvious problem.
The Daily Caller reported that Paul Pelosi’s stock purchase occurred prior to a vote on a bill next week that would grant massive subsidies to chip manufacturing.
The Senate is scheduled to convene next Tuesday to vote on a bipartisan competition bill, that includes $52 billion in grants and subsidies for semiconductor manufacturers and $45 billion to strengthen their supply chain for high-tech products. The bill would also provide chip manufacturers with tax credits for production. The House passed this bill in February.
In June, chip manufacturing companies, including NVIDIA, had dispatched a letter to Washington requesting lawmakers to expedite the passage of the bill.
The obvious issue is that only a select few, such as Speaker Pelosi, were aware of the contents of the bill and the fact that the bill was heading for a vote in the Senate next week. Her husband purchasing seven figures worth of stock in a company that stands to gain from the bill seems too much of a coincidence. It most certainly presents a case of conflict of interest for Pelosi who stand to profit through her husband.
Paul Pelosi is known to be an avid investor in the stock markets. Both Nancy and Paul Pelosi are believed to be worth at least $46,123,051. This places the House Speaker among the 25 richest members of Congress. The vast majority of the couple's wealth is from stocks, options, and investments made by Paul.
more
https://www.americanthinker.com/blog/2022/07/pelosis_husband_invests_millions_in_a_tech_stock_prior_to_the_vote_on_chip_subsidy_bill.html
