Paul Pelosi, the husband of Speaker of the House Nancy Pelosi, recently made a stock purchase totaling over a million dollars in a computer chip company, only weeks before a potential Congressional vote in Congress. The vote would give a massive subsidy to the industry.
Despite the purchase, estimated between $1 million and $5 million, of shares of semiconductor company Nvidia, according to a disclosure filing made by Pelosi’s office, ABC, CBS, MSNBC, CNN, and NBC failed to cover the story on the air when it broke and during following newscasts.
According to Curtis Houck, managing editor of conservative-leaning media watchdog NewsBusters, it was “no accident that the liberal media have made the decision to ignore” the story as it could damage Speaker Pelosi.
“For those that are aware of it, they have zero comprehension and/or shame to realize how it’s a quintessential story of how the elites work for their own financial benefit, not that of the American people,” said Houck to Fox News.
“If this were Kevin McCarthy’s wife, there’d be zero question as to whether ABC, CBS, CNN, MSNBC, and NBC would be having full reports about it with snarky chyrons and commentaries from the Rachel Maddows and Don Lemons of the world,” continued Houck. “Same goes for the major newspapers. A-1 stories would be guaranteed. But because it involves Paul Pelosi, they’d rather play ball with their friends and avoid drawing the ire of the Speaker’s office.”
Double Standard: Republicans Were Under Fire For Past Stock Sales
Previously, in 2020, Senator Richard Burr, R-N.C., and other higher-profile lawmakers came under fire for selling stocks in the build-up to the Covid-19 pandemic. They were suspected of having made the sales based on inside information about the pending pandemic. CBS, ABC, CNN, MSNBC, and NBC all covered the story, with “The Rachel Maddow Show” spotlighting a lengthy commentary about it.
Nancy Pelosi’s office has tried to distance the Speaker from her husband’s recent trades. “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,” said Drew Hammill in a statement provided to Fox Business.
According to Fox Business’ Charlie Gasparino, “Obviously this brings up the notion, is this insider trading? Is she giving him some tips? We should point out that the SEC and the DOJ have brought cases on insider tips via pillow talk. Trust me on this. It’s happened.”
“I don’t believe this hits the insider trading bar… a lot of information about this legislation was bouncing around; it has to be material, non-public, stolen, misappropriated. It kind of doesn’t hit those barriers. But what this does hit is limousine liberalism, arrogance on steroids,” said Gasparino. “He knows that he has an information edge. Not saying it’s illegal, but he knows he has an information edge. He and his wife talk about stuff… he knows what’s coming down the pike… It’s really disgusting looking.”
Nancy and Paul Pelosi have been married since 1963. In May, he was involved in a car crash and charged with DUI with injury by the Napa County District Attorney’s Office last month.