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Paul is getting more bad news. The husband of Nancy Pelosi was sentenced to five days in jail after being convicted of misdemeanor driving under the influence.
But now, there is more attention on him after buying stock in computer chip companies.
GOP House Leader Kevin McCarthy will likely become the next Speaker if Republicans win back the House in November. He said there will be an investigation into the Pelosi stock trading.
He expressed concern over Paul Pelosi having great success in picking the correct stocks to purchase and sell. He recently purchased large shares of NVIDIA before the House and Senate passed legislation that benefited the company.
“I would look all the way 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.”
The legislation isn’t going to be debated or voted on until Congress comes back from its August recess.
“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’t do that.”
Democrats plan to introduce legislation next month that would prevent stock trades by members of Congress and their spouses.
The Daily Mail reported:
The framework would force members of Congress, their spouses, and senior staff to place assets in either a qualified blind trust or completely sell them off. Lawmakers, spouses, and staff would still be able to hold mutual funds.
Leadership’s goal is to get the legislation through the House in September, according to Punchbowl News.
Last week congressional stock purchases were again under fire after Speaker Nancy Pelosi’s husband Paul purchased over $1 million in shares of semiconductor firm Nvidia as Congress was negotiating the bill to inject billions into the semiconductor chip industry. The Senate passed that bill Wednesday and the House is expected to pass it on Thursday.
You know the issue is bad when a left-wing Fake News MSNBC contributor publishes an op-ed titled, “Biden’s ongoing struggle with the utter hypocrisy of stock trading in Congress.”
Richard Painter said that Americans are tired of the corruption and appearance of corruption in Congress.
“It’s important that Congress pass a law prohibiting its members and their spouses from trading in individual stocks while in office. For years, such reform has faced considerable resistance from members of both political parties, including the speaker, but it is necessary if public confidence in Congress is to be restored. Democrats have been discussing a plan to introduce such legislation this month,” he wrote.
Hopefully, getting rid of the corruption in our governor can actually become a more bi-partisan thing for the American people and lawmakers.