Pelosi’s Husband ‘Wrong’ to Sell Chips Shares, GOP Might Change Member Trading Rules: McCarthy

During a weekly briefing on Friday, House Minority Leader Kevin McCarthy (R-Calif.) said it was wrong that Paul Pelosi, husband of House Speaker Nancy Pelosi (D-Calif.), was allowed to sell his shares of a computer chip manufacturer just before the House voted on a chips manufacturing bill.

McCarthy suggested Republicans would look into options for changing stock trading rules for lawmakers and their families

The news broke under required financial disclosure laws that Paul Pelosi had sold $4.1 million dollars worth of NVIDIA Corp. shares on July 26.

The sale, which resulted in a financial loss of over $340,000 for the Pelosis, was the end result of scrutiny by critics, who saw a conflict of interest in Paul Pelosi owning the stocks.

This is far from the first time the Pelosis have been in the limelight for trading related to ongoing legislative deliberations.

Though she has in the past opposed efforts to ban stock trading by members of Congress, Nancy Pelosi recently indicated she intends to move forward with a bill to ban some types of trading by lawmakers.

During his weekly briefing, McCarthy suggested doubts about the timing of the bill, in view of the speaker’s past opposition.

“I find it very ironic that the speaker of the House now talks about bringing up a bill at the very end of the term of Congress,” McCarthy said when asked about whether he would support the trading ban bill. “So her husband could trade all the way through but now it becomes a crisis?”

McCarthy said Paul Pelosi didn’t just trade stock, he traded options.

“I think what her husband did was wrong,” he said.

Denial of Wrongdoing

The Pelosis have long maintained that they don’t discuss Paul Pelosi’s financial trades, but McCarthy suggested he strongly doubts that Paul Pelosi is unaware of

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