SHADY STOCK TRADES DOG PELOSI
Martha Stewart served 5 months in prison for similar insider trading. And Nancy Pelosi has a well-earned reputation for shady stock purchases herself, getting shares in lucrative IPOs and trading on inside information gleaned through Congressional meetings.
Paul Pelosi Invested in SunEdison Weeks Before First Wind Purchase
WASHINGTON-- House Democratic Leader Nancy Pelosi’s husband bought up to a quarter million dollars of stock in SunEdison, a now financially troubled green energy company just weeks before it announced a major 2014 acquisition that sent its stock price soaring. SunE's 2014 purchase of wind energy company First Wind “further bolstered the reputation of the company,” wrote one market-watcher at the time. “Perhaps unsurprisingly, SunEdison’s stock soared 29% on news of this acquisition alone.”
Pelosi’s husband, Paul Pelosi, had invested just in time. He bought between $100,000 and $250,000 in SunEdison stock on Oct. 24, 2014, according to congressional financial disclosures. The company announced its First Wind acquisition on Nov. 17.
Pelosi has previously been accused of trading stock based on information gleaned through her official duties. A law passed in the wake of that controversy prohibits members of Congress from using nonpublic information for personal gain. Language in that measure was informally dubbed the 'Pelosi Provision.'
Pelosi’s office did not respond to questions about the timing of the purchase and whether she or her husband had any advance knowledge of the deal.
THIS IS A MUST WATCH
BUSTED NANCY SUFFERS MELTDOWN
The clip starts automatically at the perfect moment. Pelosi is asked by Steve Croft about getting IPO shares in VISA while fighting a bill in Congress that would hurt VISA.
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