House minority leader Kevin McCarthy called out Nancy Pelosi after she bought chips stock from Paul before the bill was passed. McCarthy said that there must be an “in depth” investigation into how members trade stocks.
” “I believe we need to conduct a thorough investigation to determine the role of Congressmen and their influence, and we have proved that she cannot do that.” said McCarthy.
House Democrats intend to introduce a bill in August to ban lawmakers as well as their spouses and senior staff members from trading stocks, Reuters reported. Pelosi said in 2021 that she would not support such a ban but changed her mind in February.
Paul purchased up to $5 million worth in stock of Nvidia on June 17, the DCNF reported. He then sold up to $5 million worth of Nvidia shares Wednesday and lost roughly $341,000 before the Senate passed a bipartisan competition bill that would deliver $52 billion for semiconductor manufacturing through 2025.
Nvidia relies heavily on semiconductors. It designs and produces graphics processors. (RELATED: The Pelosis ‘Appear To Have Taken Advantage Of Inside Information,’ Says Former Fed Chair)
“Mr. Pelosi bought options to buy stock in this company more than a year ago and exercised them on June 17, 2022,” Drew Hammill, deputy chief of staff for the House speaker, previously told the DCNF. As usual, the speaker does not talk about these issues with him until all trades are completed and any required disclosures filed Mr. Hammill stated that Pelosi sold the shares for a loss to avoid misinformation from the media about the trade.
“When she said she never told him anything, I know they spent their time together overseas and when they’re coming back, I’m sure she had conversations on the phone about what was gonna be on the floor,” said McCarthy. I’m certain she talked about the final look of the chip version. I am sure they had these conversations. It is not clear if he could hear the words.
The office of Pelosi did not reply to my request for comment.
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