Critics question timing of Paul Pelosi's massive stock purchase ahead of key House vote
'Outnumbered' panelists weigh in after Speaker Pelosi's husband purchased more than $1 million in stock for a computer chip manufacturing company as the House is set to vote on subsidies for chip manufacturers.
Paul Pelosi, House Speaker Nancy Pelosi's husband, made a stock purchase of over $1 million in a computer chip company just weeks before a potential vote in Congress which would give a massive subsidy to the industry but anyone who relied on CNN, MSNBC, ABC, CBS or NBC for information would have no idea.
Mr. Pelosi made a purchase of between $1 million and $5 million shares of Nvidia, a semiconductor company, according to a disclosure filing made by Speaker Pelosi's office. He exercised 200 call options, or 20,000 shares, the disclosure states. The disclosure raised eyebrows, as Reuters reported that the Senate could vote on a bill that contains billions of dollars in subsidies within the semiconductor industry as early as Tuesday.
However, CNN, MSNBC, ABC, CBS and NBC failed to mention Paul Pelosi on the air from when it broke on July 15 through primetime on Monday, according to a search of transcripts conducted by Fox News Digital.
Speaker of the US House of Representatives Nancy Pelosi (R) and husband Paul Pelosi. (Photo by SAMUEL CORUM/AFP via Getty Images))
Curtis Houck, managing editor of right-leaning media watchdog NewsBusters, said it was "no accident that the liberal media have made the decision to ignore" the story that could damage 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," Houck told Fox News Digital.
"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," Houck continued. "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."
In 2020, Republican Sen. Richard Burr, N.C., and other high-profile lawmakers came under fire for stock sales in the run-up to the COVID-19 pandemic that were suspected to have been made based on confidential information about the pending outbreak. CNN, MSNBC, ABC, CBS and NBC all covered the story. "The Rachel Maddow Show" even featured a lengthy commentary about it.
Paul Pelosi made a stock purchase of over $1 million in a computer chip company just weeks before a potential vote in Congress which would give a massive subsidy to the industry. (Chip Somodevilla/Getty Images)
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Meanwhile, Nancy Pelosi's office has attempted to distance the House Speaker from her husband’s recent stock 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," spokesman Drew Hammill told FOX Business.
FOX Business’ Charlie Gasparino appeared on "Tucker Carlson Tonight" on Monday to discuss whether the move could be insider trading.
"This dude is a rising star on Wall Street," Gasparino joked before taking a serious tone.
"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," he said. "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."
Gasparino continued: "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."
Paul Pelosi, 82, has been married to Nancy Pelosi since 1963. Last month, he was charged with DUI with injury by the Napa County District Attorney's Office after he was involved in a crash on May 28.
Fox News’ Adam Sabes contributed to this report.
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