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02 Feb, Thursday
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Bull Trader USA

Nancy Pelosi’s Husband Recovering Following Home Assault

Paul Pelosi, House Speaker Nancy Pelosi’s husband, is making a full recovery after an intruder broke into the couple’s home Friday morning and assaulted the 82 year old. 

The assailant is currently in custody and the Speaker was not in the residence at the time of the assault, according to a statement released by her office. 

“Early this morning, an assailant broke into the Pelosi residence in San Francisco and violently assaulted Mr. Pelosi. The assailant is in custody and the motivation for the attack is under investigation,” Pelosi spokesman Drew Hammill said

“Mr. Pelosi was taken to the hospital, where he is receiving excellent medical care and is expected to make a full recovery.”

It has been a wild year for Paul, who was sentenced to five days in jail and three years of probation after pleading guilty to a misdemeanor DUI charge in May following a crash in Napa County. 

Pelosi was released on $5,000 bail following his arrest and was given credit for two days served in jail while he was in custody, according to Politico

Paul Pelosi was also ordered to pay nearly $7,000 in fines. 

Paul’s Year in the Public Eye 

Paul Pelosi has spent more of this year in the news than he has in the past while being married to one of Congress’ most powerful members. 

Most of the scrutiny has centered on he and his wife’s moves in the stock market amid more scrutiny into the couple’s finances.

The Pelosi’s, who have been married for nearly 60 years, have amassed a fortune of nearly $46 million, according to some estimates,

As part of a periodic transaction report in July, the family disclosed that Paul Pelosi sold 25,000 shares of Nvidia NVDA for about $4.1 million, days ahead of a Senate vote on the passage of legislation providing about $52 billion in government subsidies for U.S. semiconductor production. 

Congress has taken baby steps to curtail politicians trading off of insider information this year. 

House Speaker Nancy Pelosi in the past has been against any stock trading ban, saying once that Congressmembers “should be able to participate” in the stock market since the U.S. is a “free-market economy.”

Nancy and Paul Pelosi, are some of the most active stock market traders in Congress, according to some estimates

Efforts to Stop Potential Corruption

The Bipartisan Ban on Congressional Stock Ownership Act of 2022 was introduced in February by Senators Elizabeth Warren (D-Mass.) and Steve Daines (R-Mont.), as well as Representatives Pramila Jayapal (D-Wash.) and Matt Rosendale (R-Mont.).

The proposed legislation would cover members and their spouses. It grew out of anger over members of Congress trading stocks at the start of the pandemic, before its seriousness had become public knowledge.

The requires them to divest ownership of individual stocks, bonds, commodities, futures, and other securities including interests in hedge funds, derivatives, options and other complex investment vehicles.

That legislation was followed up with the “Combatting Financial Conflicts of Interest in Government Act,” a 26-page bill.

The bill would ban top officials across the Executive, Legislative, and Judicial branches, as well as their spouses and dependent children, from owning or trading stocks, as well as cryptocurrencies and other digital assets.

To comply with the bill, members of Congress may place holdings into qualified blind trusts. The bill also allows for investments in other investment vehicles like diversified mutual funds and ETFs; U.S. T-bills, bonds, and notes; and state and muni bonds. 

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