Don't like to read?
Speaker of the House Nancy Pelosi’s husband is facing DUI charges. Bail was set at $5,000 in Napa County, Mr.Pelosi an 82-year-old investor and businessman is the owner and operator of Financial Leasing Services, Inc. According to the Napa County Criminal Justice Network’s public booking report the businessman was arrested at 11:44 p.m Pacific Time (PT) and was caught with a blood alcohol level of 0.08% or above.
Country records stated that the businessman was released on Sunday morning on misdemeanor charges. Pelosi was caught in a collision when his 2021 Porsche was met with a 2014 Jeep traveling northbound when attempting to cross Route 29 at 10:29 p.m. no injuries were reported, according to the California Highway Patrol report.
“The Speaker will not be commenting on this private matter which occurred while she was on the East Coast,” a statement from Drew Hammill, Pelosi’s spokesperson, said. Mr. Pelosi who’s shied away from the spotlight is known for his money-making trade deals as attention is further drawn to ban stock trading by members of congress. Tiktok users have been known to copy Mrs. Pelosi’s stock disclosures copying her husband’s investments.
Pelosi isn’t the only lawmaker invested in these stocks, members of the house and senate filed more than 4,000 financial trading disclosures. An estimated amount of $315 million of stocks, as well as bonds, were bought and sold. In 2020, Tim Carambat created two databases that are open to the public ‘House Stock Watcher’ and ‘Senate Stock Watcher’ tracking lawmaker’s financial transactions.
“I knocked out a very, very simple version of the project in like a couple of hours. [He] posted it actually to Reddit, where it gained some significant traction,” said Carambat. “People showed a lot of interest in it. Investors perceive that senators may have insider information.”
Dinesh Hasija, assistant professor of strategic management at Augusta University in Georgia, is studying if moves in the market made on congressional disclosures, yield returns. The research presented is pointing to this being likely true. Hasija’s research shows that there’s an increase in stock prices that lawmakers buy. “Investors perceive that senators may have insider information,” he said. “And we see abnormal positive returns when there’s a disclosure by a senator.”
Matthew Zwijacz, a financial services consultant, is in an effort to create an instrument that would collect financial information on congressional stock choices. According to Zwijacz, America’s lawmakers are “probably privy to more information than just the general public.”
Mr. Pelosi is from San Francisco and is married to Nancy Pelosi. The couple has five children together along with ownership of a vineyard In Napa Valley. They met at Georgetown University and married in 1963.
Written by Skye Leon
Edited by Sheena Robertson
CNN: Pelosi’s husband charged with DUI; By Diane Ruggiero
The New York Times: Pelosi’s Husband Faces Drunken Driving Charge in California; By Vimal Patel
NPR: TikTokers Are Trading Stocks By Copying What Members Of Congress Do; By Tim Mak