Pelosi Under Fire Again for Suspicious Stock Trades

Newsweek is reporting that “Representative Nancy Pelosi’s decision to sell her Google stocks just a month before the Department of Justice (DOJ) and eight states sued the tech giant has raised eyebrows as to whether she knew a massive antitrust lawsuit was coming.”

The DOJ announced Tuesday that it was suing Google for abusing a monopoly over a “wide swath” of online advertising tools and corrupting “legitimate competition in the ad tech industry” by doing so.

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Shortly after the announcement, some social media users noticed that Pelosi sold up to $3 million of her Google stocks four weeks earlier. Congressional filings show that the California Democrat sold 10,000 shares of Alphabet Inc., Google’s holding company, on December 20, 21 and 28. Each amount ranged between $50,001 and $1 million.

On Wednesday, Pelosi’s critics took to Twitter to question the timing of the two events, suggesting that there might have been insider trading involved in the three transactions.

Former Republican congressional candidate Robby Starbuck said: “I’m sure it’s just one big coincidence” that Pelosi sold millions in stock “right before” the DOJ filed its antitrust lawsuit.

“You don’t have to be a conspiracy theorist to wonder how Nancy Pelosi knew to sell off $3 million of her Google stock 4 WEEKS before the DOJ opened their tech monopoly lawsuit against them,” former GOP Senate candidate James Bradley tweeted.

Republican Senator Josh Hawley of Missouri, who on Tuesday introduced a bill that would ban members of Congress from trading and owning stocks, wrote: “People have asked why I named my stock trade ban the PELOSI Act. Now you know.”

The Pelosi Act, also known as the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act, introduced by Hawley renewed a push to prevent lawmakers and their spouses from holding stocks or making new transactions while in office.

The legislation comes six months after her husband, Paul Pelosi, sold up to $5 million worth of a computer chipmaker ahead of a House vote focused on domestic chip manufacturing.

Over recent years, lawmakers on both sides of the aisle have shown interest in cracking down on the practice, especially after several senators, who were briefed about the impending COVID pandemic, were caught selling stocks right before a market crash preceding the global health crisis.

Efforts similar to Hawley’s bill have been made in the House by Democratic Representative Abigail Spanberger of Virginia and Texas GOP Representative Chip Roy, who introduced the Trust in Congress Act for the third time earlier this month.

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About Jeff Rainforth 575 Articles
Jeff covers border news in the US and has traveled around the world documenting the border walls and counter-terrorism efforts of other countries. He runs the Rainforth Report on Substack. In 2022 Jeff embarked on a border crisis tour, documenting cartel trafficking of drugs and humans. The year before he was contracted to film on the border with Ben Bergquam of America's Voice News and also for Women Fighting for America. Jeff was the videographer for the March for Trump bus tour which crossed the country twice and ended on January 6th, 2021 in DC at the Capitol. He filmed the events that took place at the Capitol Building. Jeff was the videographer and news editor for We Build the Wall, the organization founded by triple-amputee vet hero Brian Kolfage. He was the sole photographer allowed to be on site to document the construction of the first ever privately built border wall. Jeff has worked on Kolfage's projects since 2015. Steve Bannon sent Jeff to embed with the Hong Kong protesters, covering their fight for freedom against the Chinese Communist Party, and regularly films inside of riots in Democrat-run cities in the United States. Bannon also sent Jeff to film for a documentary on border walls in mainland China as COVID was about to emerge from the country. Bannon and Kolfage then sent Jeff to film walls and counter-terrorism efforts in Thailand, Malaysia, Israel by the Gaza Strip, Hungary & Serbia, France, Spain, and north Africa. As of 2022 Jeff is an editor at Populist Press and other news sites. Jeff did a special 2nd Amendment project for Navy SEAL Rob O'Neill who killed Bin Laden, and he was the national rally organizer to free Marine Sgt. Tahmooressi from the Mexican prison. He is chairman emeritus of Ross Perot’s Reform Party of California, and a former candidate for governor. He wrote for former war correspondent & Breitbart contributor, Pat Dollard, and headed up his 30-person research team. Mr. Rainforth also wrote for the Wayne Dupree Show. Jeff is a two-time nominee for the prestigious Blog Bash Award for best activism for organizing the national movement to form a select committee on Benghazi, and for his role as the national rally organizer to free Marine Sgt. Andrew Tahmooressi from Mexican imprisonment. Jeff appears in Sgt. Tahmooressi's mother's book, "When Light Prevails."

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