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Yet again

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  • Yet again

    Nancy Pelosi’s husband buys millions in computer-chip stocks before big subsidy vote

    And once again Paul Pelosi is set to make millions of dollars based on inside information supplied by his wife. One of the more recent examples is when he invested heavily in electric vehicles shortly before the Biden Administration announced their decision to have all government vehicles switched over to electric.

    It has become so blatant lately that even AOC has railed against it saying "it is no mystery" why the House won't ban members from trading in stocks (AOC pushed back on Nancy Pelosi's stance against banning congressional stock-trading: 'We write major policy and have access to sensitive information'). Traditionally, politicians would put things like their stock holdings into a blind trust, which they have no control over, to manage their wealth while they're in office.

    Pelosi has her hubby do that, right after some pillow talk regarding legislation that can effect it that she knows about.

    Anywho... here's the article

    House Speaker Nancy Pelosi’s husband purchased up to $5 million in stock options on a computer-chip company ahead of a vote on legislation next week that would deliver billions of dollars in subsidies to boost the chip-manufacturing industry, new financial disclosures show.

    Paul Pelosi purchased on June 17, 20,000 shares of Nvidia, a top semiconductor company, worth between $1 million and $5 million, the Daily Caller reported, citing disclosure reports filed by the House speaker.

    Senators are expected to convene as early as Tuesday to vote on a bipartisan competition bill to set aside $52 billion to boost domestic semiconductor manufacturing and give tax credits for production, Reuters reported.

    “It certainly raises the specter that Paul Pelosi could have access to some insider legislative information,” Craig Holman, a government affairs lobbyist for the left-wing think tank Public Citizen, told the Daily Caller News Foundation. “This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity and then its followers do likewise.”



    I'm always still in trouble again

    "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
    "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
    "Of course, human life begins at fertilization that’s not the argument." --Tassman

  • #2
    Was he actually sober enough to do this at any time? Or did Nancy just do it in his name?
    The first to state his case seems right until another comes and cross-examines him.

    Comment


    • #3
      Originally posted by Cow Poke View Post
      Was he actually sober enough to do this at any time? Or did Nancy just do it in his name?
      A man has one DUI/DWI and "Do you know who I am (or my wife is)?" moment.

      I'm always still in trouble again

      "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
      "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
      "Of course, human life begins at fertilization that’s not the argument." --Tassman

      Comment


      • #4
        OK I have a question. The bill is to subsidize domestic chip manufacturing (here in the US) but Nvidia chips are made in Taiwan. So how does subsidizing making chips in the US help Nvidia stock?

        Comment


        • #5
          Originally posted by Sparko View Post
          OK I have a question. The bill is to subsidize domestic chip manufacturing (here in the US) but Nvidia chips are made in Taiwan. So how does subsidizing making chips in the US help Nvidia stock?
          FWIU, Nvidia, being an American chip manufacturer, incorporated in old Joe's home state and based in California, is still eligible for being subsidized.

          I'm always still in trouble again

          "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
          "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
          "Of course, human life begins at fertilization that’s not the argument." --Tassman

          Comment


          • #6
            Originally posted by rogue06 View Post
            FWIU, Nvidia, being an American chip manufacturer, incorporated in old Joe's home state and based in California, is still eligible for being subsidized.
            But they manufacture the chips in Taiwan. Are they going to move manufacturing operations to the US because of this subsidy?

            Comment


            • #7
              Originally posted by Sparko View Post

              But they manufacture the chips in Taiwan. Are they going to move manufacturing operations to the US because of this subsidy?
              Just heard someone on a Financial channel talking about this and how Nvidia can expect to benefit by the legislation with their stocks already going up 10% (meaning Paul and Nancy have already made something like $500,000).

              I'm always still in trouble again

              "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
              "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
              "Of course, human life begins at fertilization that’s not the argument." --Tassman

              Comment


              • #8
                Originally posted by Sparko View Post
                OK I have a question. The bill is to subsidize domestic chip manufacturing (here in the US) but Nvidia chips are made in Taiwan. So how does subsidizing making chips in the US help Nvidia stock?
                Dumb money speculators (retail investors) would jump in thinking that the stock would go up based on this news and then it becomes a self-fulfilled prophecy -- and this would especially be effective with a company like Nvidia, because the target group would be gamers -- typically the young dumb retail traders that react on impulse. The problem is that this would probably be short term, so it would be a pump and dump ploy. Invest in the stock, pump it up with hype (only in this case, the Pelosies are using actual political policy), and then dump it at the top.

                Comment

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