House Speaker Nancy Pelosi (D-CA) was caught making some suspiciously prescient stock purchases last month ahead of Joe Biden’s inauguration, raising concerns that she’s not the only one planning to profit from Biden’s presidency.
Yahoo!’s Britni de la Cretaz noted on Thursday that Pelosi’s husband quietly picked up 25 call options of Tesla stocks in December. But buying Tesla in and of itself isn’t the eyebrow-raiser.
As de la Cretaz pointed out, Pelosi has come under fire for the purchases “because under the Biden administration’s new agenda, with its focus on environmental protections and combating climate change, Pelosi could benefit financially from those political plans.”
The issue of politicians benefitting from their inside knowledge about the government’s plans has long been highlighted — last year GOP Sens. Kelly Loeffler (R-GA) and Richard Burr (R-NC), along with Democrat Sen. Dianne Feinstein (D-CA) were subjected to a federal investigation for dumping millions in stocks after being briefed on the rising coronavirus threat in late January 2020.
Pelosi’s recent market moves haven’t been subject to the same level of scrutiny, but Pelosi’s purchase of Tesla stocks represents a clear conflict of interest, as she likely has a level of knowledge about the Biden administration’s specific incentives that most do not have access to.
De la Cretaz explained:
President Joe Biden is currently encouraging the purchase of electric vehicles, and that could mean lifting the cap on sales, providing tax credits to buyers, and a potential program incentivizing people to trade in used vehicles to buy an electric one. Biden also announced on Monday that he would be replacing the entire fleet of 645,000 federal vehicles with electric ones. This could create a conflict of interest, as part of Pelosi’s job will include working to pass these environmental and clean energy initiatives — initiatives from which her family now stands to profit handsomely.
Democrats like Pelosi continually virtue signal about supporting the green agenda, but with Pelosi’s family betting heavily on the Biden administration’s energy policies, the rhetoric takes on a decidedly mercenary tone.
Pelosi told reporters in September that “when Joe Biden says, ‘Build back better,’ that better includes building back in a way that is resilient, that is green, that protects the planet. So I don’t know if it’s one bill or it permeates a number of bills, but it is absolutely a priority.”
How convenient that her husband just happens to be independently investing in green energy and technology.