It looks like Nancy Pelosi’s time in Congress is about to come to an end.
But it will do so under a cloud of controversy.
That’s because Nancy Pelosi is facing one financial scandal that will leave you red with rage.
Pelosi’s actions are raising questions
Political insiders expect Pelosi to retire from Congress shortly after Democrats lose the majority in the House of Representatives this November.
But Pelosi will not leave in a blaze of glory.
Quite the opposite.
Virginia Congresswoman Abigail Spanberger released a statement slamming Nancy Pelosi for sabotaging a bill banning members of Congress and their family members from trading stocks.
“It’s apparent that House leadership does not have its heart in this effort, because the package released earlier this week was designed to fail. It was written to create confusion surrounding reform efforts and complicate a straightforward reform priority — banning Members of Congress from buying and selling individual stocks — all while creating the appearance that House Leadership wanted to take action,” Spanberger’s statement read.
There may be a good reason why Pelosi tanked the bill.
Questions of insider trading surround the Pelosis
The Washington Free Beacon noted that, thanks to her husband Paul’s stock trades, Nancy Pelosi’s net worth ballooned by $140 million since 2008.
Some of these trades smelled like insider trading, such as Paul Pelosi’s purchase of $5 million worth of stock in a company set to receive billions of taxpayer dollars as part of a corporate welfare bill aiding the semiconductor industry.
“Pelosi has been dogged by allegations that her husband, Paul Pelosi, trades stocks on inside information gleaned from her position in Congress. In March, Paul Pelosi exercised options to buy up to $5 million worth of Tesla stock as the speaker pushed for electric vehicle subsidies,” the Washington Free Beacon reported. “And in June, Paul Pelosi exercised call options to buy up to $5 million in the graphics card manufacturer Nvidia just weeks before the House considered a bill to provide more than $50 billion in subsidies to domestic semiconductor manufacturers,” the Free Beacon reported.
The Free Beacon also reported that gains in Pelosi’s portfolio outpaced the stock market at a volatile moment during the Great Recession.
“Pelosi’s portfolio has performed remarkably well during periods of financial turmoil, her financial disclosures show. Her estimated net worth skyrocketed at the onset of the Great Recession, going from $31.4 million in 2008 to $101.1 million in 2010, a 220 percent increase in a window where the S&P 500 decreased by 13 percent. The speaker also reaped a significant return during the COVID-19 pandemic, seeing her estimated net worth jump from $106 million in 2019 to $171.4 million in 2021, an increase of 60 percent,” the Free Beacon also reported.
Nancy Pelosi is likely to leave Congress before having to answer for any of this.
But that doesn’t avoid the fact that it still reeks of massive corruption.
Patriot Political will keep you up-to-date on any developments to this ongoing story.
