In the closing days of Nancy Pelosi’s reign as House speaker and weeks before an antitrust lawsuit was filed against Google, she sold a bucket load of her Google stock.
The sales, which came through between Dec. 20 and Dec. 28, were around a month before Tuesday’s announcement that the Department of Justice filed the lawsuit, Newsweek reported with its headline calling it “odd timing.”
According to Pelosi’s disclosure form, she sold 10,000 shares of her Google stock on Dec. 20. Dec. 21, and Dec. 28
The disclosure form gave a range of valuations, each in the range of $500,001 and $1 million, meaning Pelosi may have dumped $1.5 million and up to $3 million worth of stocks.
According to InvestorPlace, Google stock took a hit Wednesday following the announcement of the lawsuit, which was down 3 percent.
Nancy Pelosi and her husband’s shady trading activities have frequently faced accusations of insider trading.
The recent sale ignited more criticism, with one Twitter calling the news “wild” and another noting, “Anyone else would be in jail.”
Republican Sen. Josh Hawley of Missouri tweeted, “People have asked why I named my stock trade ban the PELOSI Act. Now you know,” after he re-introduced his bill to ban members of Congress from dabbling in stock.
“For too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people,” a statement from Hawley read.
“As members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again,” the statement continued.
“While Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other, hardworking Americans pay the price. The solution is clear: we must immediately and permanently ban all members of Congress from trading stocks.”
Last year, Congress supported Democratic Rep. Abigail Spanberger of Virginia and Republican Rep. Chip Roy of Texas’s proposal called the TRUST in Congress Act, according to Business Insider.
The act would require members of Congress, their spouses, and any dependent children to place their assets in a blind trust.
The act, which had almost 50 co-sponsors, would require members of Congress, their spouses, and any dependent children to put their assets in a blind trust.
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