Oh to have the stock trading success of Paul Pelosi. On Tuesday, Just the News reported that Paul Pelosi (husband of Speaker of the House Nancy Pelosi) just made a really smart stock purchase.

The article reports:

Paul Pelosi, House Speaker Nancy Pelosi’s husband, purchased between $1 million and $5 million of stock in a semiconductor company ahead of an upcoming vote on legislation containing $52 billion for chipmakers — the latest in a long history of similar purchases.

…Pelosi’s husband made headlines when he purchased a substantial amount of tech stock last year under his wife’s speakership. Pelosi made millions on “timely” bets with Big Tech stock buys in advance of an antitrust bill that was moving through the House, according to a Fortune report from July 2021. 

The antitrust legislation ultimately stalled, but Pelosi tech stock buys have continued throughout this year. In March, the speaker disclosed that her husband bought Apple as well as Disney and PayPal shares. 

Retail traders track Pelosi’s trades to “find winners,” Yahoo reported.

The article notes:

There are several bills still pending in Congress that impose some form of a ban on lawmakers making individual stock purchases, but some would not cover spouses. 

Peter Schweizer, author of the 2011 book “Throw Them All Out,” was instrumental in educating the public about the lack of stock trading laws applicable to members of Congress. After his book was published, Congress passed the STOCK Act, and former President Obama signed it into law. The bill is designed to prevent insider trading, but it doesn’t ban members of Congress or their spouses from buying individual stocks. Under the bill, lawmakers are required to file financial disclosure reports that show the purchases made. 

Schweizer has long called on Congress to prohibit lawmakers and their spruces [sic] from trading individual stocks. 

The article concludes:

Pelosi’s office has said she had “no prior knowledge” of her husband’s stock purchase.

“The speaker does not own any stocks,” said Pelosi spokesman Drew Hammill, according to FOX Business. “As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions.” 

The legislation with the funding for chipmakers is designed to shore up America’s semiconductor supply chain to better compete with China. The House passed its version of the America COMPETES Act earlier this year. The Senate passed their own version last June. A conference committee is preparing the final legislation, which could be voted on as early as this week.

The article notes:

Retail traders track Pelosi’s trades to “find winners,” Yahoo reported.

I think Martha Steward should ask for her jail time back.