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Well, this time he isn’t taking a beating. Paul Pelosi made three sales of Google stock last month between December 20th and 28th. Each sale was categorized in the .5-1 million range. Interestingly, the Justice Department announced a lawsuit against Google this week for allegedly monopolizing the digital advertising market.<\/p>\n
Pelosi sold the shares in three different transactions between December 20 and December 28, according to congressional disclosure files viewed by Fox News Business<\/a>. Each transaction involved an amount between $500,001 and $1,000,000, according to the report. The trades involved between $1.5 million and $3 million of assets. The total amount of capital gains yielded was unclear.<\/p>\n
Pelosi, who heads a San Francisco-based investment and venture capital firm, came under fire last year for buying up to $5 million worth of shares in computer chipmaker Nvidia about a month before Congress approved the CHIPS Act, which included a $52 billion subsidy for domestic computer chip production. Facing scrutiny for the purchase, Pelosi sold the stock at a loss just before the bill passed in late July.<\/p><\/blockquote>\n
Yahoo<\/a><\/p>\n
Now, my first reaction was that he was trying to beat the expected drop one would expect over such a lawsuit announcement – at the time Google was selling around $85-89 a share. Recently Google rose to slightly over $100 a share, and is still almost at that level AFTER\u00a0 the announcement.\u00a0 Seems to me, either he decided to take his profits (assuming he had any), or if he thinks Google is going to go down, he decided to jump the sinking ship earlier rather than later. Plus, SanFranNan denies she ever shares ANY information with him. Unhuh. Yep. Right. I’m sure.<\/p>\n
Either way, it was enough that Josh Howley (R-MO) introduced a bill Tuesday to require Congresscritters their spouses from trading on the stock market.<\/p>\n
\u00a0A Republican in the U.S. Senate<\/a> is looking to prevent lawmakers and their spouses from trading stocks on which the officials would have privileged information and used the bill’s title to make a not-so-subtle dig at former House Speaker Nancy Pelosi.<\/p>\n
On Tuesday, Sen. Josh Hawley, R-Mo., introduced the PELOSI Act, officially the Preventing Elected Leaders from Owning Securities and Investments Act, requiring members and their spouses to divest any holdings or put them in a blind trust within six months of entering office.<\/p><\/blockquote>\n