Is Elon Musk headed for a showdown with the Department of Justice? If Nancy Pelosi’s husband Paul’s recent stock trades are an indication, then Elon Musk could be the next target of the Harris-Biden Department of Justice.
Pelosi dumped half a million dollars worth of Visa stock before a DOJ antitrust lawsuit against the company. That same day, Pelosi sold between $500,000 and $1,000,000 in Tesla stock, indicating that he knew something about these companies that the American public did not.
It’s not a far-fetched scenario, as Elon Musk has become the left’s Public Enemy Number Two after former President Donald Trump. Once seen as the champion of innovation, green technology, and American business success, Musk is now an unofficial enemy of the state after he announced his support for the former president.
And few people think the DOJ won’t go after Musk for political retribution. It’s not like they haven’t done it before.
This past summer, according to a report in The New York Post, Nancy Pelosi’s husband, Paul Pelosi, sold over $500,000 worth of Visa stock just a few weeks before the Department of Justice filed an antitrust lawsuit against the credit card giant, according to public filings. The sale, which took place in early July, came less than three months before the DOJ’s lawsuit, which accuses Visa of monopolizing the debit card market.
The lawsuit, filed this past Tuesday, claims that Visa has been using its market dominance to harm competitors and penalize merchants and customers who use other payment processors.
The suit also alleges that Visa has forced financial technology firms to partner with the company by threatening them with penalties.
Paul Pelosi’s stock sale was first brought to public attention by Christopher Josephs, the entrepreneur behind the popular “Nancy Pelosi Stock Tracker” account on X (formerly Twitter). T
The filing revealed that Pelosi sold 2,000 Visa shares worth between $500,000 and $1 million. At the time of the sale, there was no public indication that Visa would soon face an antitrust lawsuit, and the stock closed down 5.5% on the day the lawsuit was announced.
A spokesperson for Nancy Pelosi reiterated that she does not own any stocks and was not involved in or aware of her husband’s transactions.
However, critics have long argued that her position in Congress could provide access to non-public information that might influence financial decisions. Legal experts, like former SEC enforcement attorney Ron Geffner, emphasize that while the optics of such trades can raise suspicions, it’s important to consider other factors, such as who manages the trades and whether they are part of a larger portfolio strategy.
The disclosure also noted that around the same time Paul Pelosi sold his Visa stock, he sold 2,500 shares of Tesla and made new investments in Nvidia and Broadcom, adding further complexity to the narrative surrounding his trades.
Now, we need to sit back and wait to see which lucrative deals Nividia and Broadcom are making with the government and to understand why Pelosi bought those two companies.
