After House Speaker Nancy Pelosi (D-Calif.) bought Tesla stock weeks before President Joe Biden, said that his administration would only buy electric vehicles, she came under fire for corruption.
“It’s corrupt and unacceptable for members of Congress, particularly the speaker, to trade stocks in companies affected by their votes in Congress,” said Take Back.org Executive Director John Pudner, according to The Western Journal quoting Washington Times on Jan. 29.
Pelosi bought stock in December in which she may have invested close to $1 million, and this week it was confirmed that Biden would buy 645,000 “clean vehicles for federal, state, tribal, postal and local fleets.”
Aaron Hill, a professor of management at the University of Florida, referred to the controversial case explaining that congressmen can obtain information or even influence and take advantage of important investment decisions.
He said, “The problem is that there are a lot of things that any congressman could do behind the scenes to positively influence Tesla’s [actions], such as delaying legislation and introducing it.”
He also said, “A lot of this is just documented in committee meetings, so it really raises the specter of double-dealing or certainly conflict of interest.”
Then it was a spokesman for Pelosi’s office who provided more details about the controversial transaction by saying, “The disclosure forms clearly indicate these investments were made by Mr. Paul Pelosi not the Speaker.”
The purchase made by Pelosi’s husband ends up being prohibited by the STOCK Act, which mandates that spouses cannot make use of information that is not shared with the public.
In about a month, the value of Pelosi’s investment exceeded 50%, as she bought each share at $500 and it was trading at $788 on Jan. 29, according to Market Watch.
The corruption of which congressmen are accused in Washington is harshly criticized by journalist Sara Carter for whom: “It’s a beast, and it feeds on itself, and it knows how to slow roll. Which is why the Trump administration had such a difficult time.”
“No matter how many times President Trump tried to do something or enact some kind of policy if there were people opposed to it at the Pentagon, if there were people opposed to it at the State Department—we may never know their names—but they just sat back and said you know what, we’re going to slow-roll this policy so that it never comes to fruition,” Carter described.
For Carter, Trump unmasked corruption marking a real milestone for the nation.
“Thank God for President Trump because he exposed it in such a way that it will never be able to hide again,” she added.