One single payment could ruin the entire Pelosi family

Economy 0

Nancy Pelosi served for decades in the Washington, D.C. Swamp.

The skeletons in her closet are too numerous to mention.

And one single payment could ruin the entire Pelosi family.

Nancy Pelosi increased her net worth from $31 million in 2008 to $171 million in 2021.

During that time period, Pelosi and her husband Paul displayed an uncanny ability to pick winners in the stock market.

The S&P 500 actually decreased by 20 percent during this same time period.

Pelosi also reported another exquisite stock trade.

Nancy Pelosi sold $3 million worth of Google stock just weeks before the Department of Justice opened up an antitrust case against the Big Tech giant.

Pelosi having the good fortune to sell millions of dollars worth of Google stock right before it was about to take a hit over her political ally filing a major legal case against the company did not strike many as a coincidence.

These amazingly timed Wall Street transactions called attention to the fact that in 2021, Pelosi made it clear she opposed legislation banning members of Congress from trading stocks.

“No,” Pelosi said in response to a question about supporting the STOCK Act.

Pelosi cast members of Congress enriching themselves based on their knowledge of the companies they oversee as old fashioned American capitalism.

“We’re a free market economy,” Pelosi said. “They should be able to participate in that.”

Former Director of the U.S. Office of Government Ethics Walter Shaub disagreed.

“It’s a ridiculous comment!” Shaub posted on Twitter in reaction to Pelosi’s statement. “She might as well have said ‘let them eat cake.’ Sure, it’s a free-market economy. But your average schmuck doesn’t get confidential briefings from government experts chock full of nonpublic information directly related to the price of stocks.”

“In an objective world, free of politics, members of Congress would be mocked for the absurdly weak ethics rules they’ve written for themselves,” Schaub added.

Pelosi later tried to get behind another version of the STOCK Act after seeing the blowback to her comments, but Schaub said the bill she supported so watered down it was meaningless.

“To say the bill is weak … would be an understatement. The bill is dangerous. It would undermine what little ethics we have in our federal government,” Schaub wrote in response.

Pelosi never supported legislation banning members of Congress from trading stocks because the available evidence suggests this is one her family’s top sources of wealth.

Renewed Right will keep you up-to-date on any new developments in this ongoing story.