Nancy Pelosi's Husband Dumps Over $500K in Visa Stock Weeks Before DOJ's Antitrust Lawsuit

 The Gateway Pundit | by Jim Hᴏft

"In 2022, Paul Pelosi exercised $1 million to $5 million Alphabet call options before Democrats proposed a congressional stock trading ban. In the same year, Paul Pelosi sold all of his NVIDIA stock just one day before Congress was set to vote on a bill that would boost domestic production of semiconductors."

Nancy Pelosi’s husband, Paul Pelosi, dumped over $500,000 worth of Visa stock just weeks before the Department of Justice slapped the financial giant with an antitrust lawsuit, according to the New York Post.

"The timing couldn’t be more suspect. Visa, one of the most dominant players in the debit card market, is now facing charges of monopolizing the industry.

"The DOJ’s antitrust unit claims Visa has abused its market power, forcing financial tech companies to work with them while penalizing those who try to go with competitors.

"According to the press release:

According to the complaint, more than 60% of debit transactions in the United States run on Visa’s debit network, allowing it to charge over $7 billion in fees each year for processing those transactions.

The complaint further alleges that Visa illegally maintains its monopoly power by insulating itself from competition.

For example, Visa wields its dominance, enormous scale, and centrality to the debit ecosystem to impose a web of exclusionary agreements on merchants and banks. These agreements penalize Visa’s customers who route transactions to a different debit network or alternative payment system.

In so doing, the complaint alleges, Visa locks up debit volume, insulates itself from competition, and smothers smaller, lower-priced competitors.

Visa also induces would-be competitors to become partners instead of entering the market as competitors by offering generous monetary incentives and threatening punitive additional fees.

As the complaint alleges, Visa coopted the competition because it feared losing share, revenues, or being displaced by another debit network altogether.

"And what was Paul Pelosi doing while the DOJ built its case? Selling off massive chunks of Visa stock." . . .

 MSNBC's Stephanie Ruhl will be the choice to interview Nancy; she will come out just fine. TD