Pelosi 'Appears To Have Taken Advantage' Of Inside Information: Former Dallas Fed Chief Fisher

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by Tyler Durden
Thursday, Jul 28, 2022 - 02:11 PM

On Thursday, former Dallas fed president Richard Fisher slammed House Speaker Nancy Pelosi and her husband Paul over allegations of insider trading.

"Clearly people have taken advantage of inside information forever," Fisher told CNBC, responding to a Thursday report from Punchbowl News that House Democrats are set to propose a ban on lawmakers, their spouses, and senior staff from trading stocks.

"I'm sorry to see that Paul Pelosi and Nancy Pelosi and others appear to have taken advantage of inside information."

The Pelosis have repeatedly come under fire for the appearance of trades based on nonpublic information - most recently buying 25,000 shares of Nvidia, which they sold at a loss amid mounting public pressure,ย  just one day before the Senate passed a multibillion-dollar bill to boost US chip manufacturing. Had they held, they could have exited a day later at a gain.

The disclosure of theirย $341,365 loss was a rare moment of specific transparency for the Pelosis, with many accusing them of taking (and then announcing) the hit to quash resurgent accusations of insider trading.

In March of 2021, the Pelosis scored $1.95 million on Microsoft call options less than two weeks before the tech giant secured a $22 billion contract to supply US Army combat troops with augmented reality headsets, while in January of the same year, Paul Pelosi bought up to $1 million of Tesla calls before the Biden administration announced plans to push electric vehicles.

Most recently, the Pelosis sold millions in Visa and Apple calls.

Pelosi denies any wrongdoing.