A candidate for the presidency and a previous House Democrat, Tulsi Gabbard lambasted House Speaker Nancy Pelosi over the concerns of Americans concerning Paul Pelosi’s in stock trading.
According to federal records, Paul Pelosi, Nancy Pelosi’s husband, sold off visa stock which was worth millions of dollars.
“What we’re seeing here is the same thing that I saw when I was in Congress — is this blatant corruption being exposed in broad daylight — the system is rigged. We have people in positions of power to pass legislation, to enact new policies. They can see, ‘OK, here are the industries or companies that will benefit from this. I’m going to go and make these investments, buy this stock or that stock, or have my husband or wife do it and then make money in the process,’” Gabbard stated on the popular Fox News show “Jesse Watters Primetime.”
“I think it’s important also to look at this, especially in the environment that we’re in right now. What is even more dangerous than what we’re seeing here is that we have members of Congress who are investing in companies or industries that will benefit from a new Cold War or conflict, for example. And these are the very same people who are making the policies, who have a vested interest in stoking those tensions and amping up this new Cold War, directly benefiting from it, and simultaneously undermining our actual national security for our country and the interests of the American people,” Gabbard added.
Pelosi has rejected all the allegations regarding insider trading. Last month, the GOP Rep. from Texas, Chip Roy, blasted the Democrats for stating that they are in favor of the legislation which prevents lawmakers from getting engaged in insider trading.
The Texas Republican sent a letter to Pelosi in which he blasted the Democrats for not acting swiftly concerning the voting on the STOCK Act
Roy also stated that he has worked with Democratic Rep. Abigail Spanberger on the legislation which forbids lawmakers as well as their family members from trading individual stocks.
“As you are aware, the House floor schedule this week contains the ‘Possible Consideration of Legislation Related to the STOCK Act.’ I am glad to see the House finally taking up the idea of reforming policies related to Member stock trading. However, as one of the original sponsors of reform language — notably introducing HR336, the TRUST in Congress Act, some 2 years ago with my Democrat colleague from Virginia, Abigail Spanberger — I was interested to see the ‘final’ language via Jake Sherman’s Twitter account last night,” Roy wrote.
The Republican House Leader Kevin McCarthy stated that Pelosis will soon be facing an investigation over their stock tradings.
“I would look through it,” he said of the Democrat proposal to ban stock trading for spouses of Congress members. “What I’ve told everybody is we will come back, and we will not only investigate this, we will come back with a proposal to change the current behavior.”
“Her husband can trade all the way through, but now it becomes a crisis?” he said. “I think what her husband did was wrong.”
“I think we need to bring trust back to this institution,” he said. “I think we have to do a thorough investigation and look at what is the proper role for members of Congress and what influence they have, and I don’t think the proper way to do this is Nancy Pelosi writing the bill because we have proven that she can not do that.”
According to MoneyWise:
Earlier this year in February, Nancy Pelosi was in charge of the House Administration Committee for drafting the bill. The draft was released in the fall, however, the timing was a bit awkward, as prior to the release of the draft, her husband, Paul Pelosi, used call options and bought Nvidia’s stocks.
Paul Pelosi bought the stocks prior to a Senate vote on bipartisan legislation which would give a $52 billion subsidy to local chipmakers.
The legislation was finally passed in July, however, Pelosi sold off his stocks and incurred a huge loss.
The Pelosis have made millions of dollars with insider trading and their corruption is coming to the light gradually.
Former U.S. President Donald Trump has also been endorsing the move which forbids Congress members from individual stock trading.