When a reporter inquired about her husband’s contentious stock trades, House Speaker Nancy Pelosi suddenly ended her weekly press conference.
A reporter questioned Pelosi about whether her husband, Paul Pelosi, had ever transacted in stocks based on information she gave him at the end of the press conference.
The implication behind the query is that as a powerful member of Congress, Speaker Pelosi has access to information that the Pelosis, whose net fortune is believed to be over $100 million, have benefitted from.
Pelosi leaned over her podium and requested the reporter to repeat his question after indicating that she was unable to hear it. She heard it at last and laughed out loud.
The speaker then turned off the microphone and left the podium.
Paul Pelosi’s stock market dealings came to light over the weekend when it was revealed that Mr. Pelosi had purchased NVIDIA stock last month for between $1 million and $5 million.
The timing of the purchase sparked questions since Congress is discussing bipartisan legislation that would give domestic semiconductor chip makers $52 billion in taxpayer-funded subsidies. Despite not manufacturing semiconductor chips directly, NVIDIA is a market leader in that sector.
The office of Speaker Pelosi replied to the transaction on Monday with a long statement denying improper behavior.
According to spokesperson Drew Hammill, the Speaker has no previous knowledge of or involvement in any transactions.
Pelosi has stated that she will back the semiconductor legislation. As soon as the following week, the House may vote on the proposal.
