Stock Moves by Pelosi's Husband Raise Eyebrows After Pentagon Contract Switch
If there is one thing that Americans are keenly perturbed by, it’s when our elected officials, (public servants, technically), begin using their positions of power to build wealth that isn’t accessible to the rest of the American public.
This is essentially the cardinal sin of public service, and it is never not the most frustrating story of the week.
This time around, we have some peculiar stock market moves made by Nancy Pelosi’s husband to worry about.
Paul Pelosi, the husband of House Speaker Nancy Pelosi (D-CA), bought Amazon call options just six weeks before the Pentagon announced it was canceling a multi-billion dollar contract with Microsoft and starting a new one that opened a door for Amazon’s participation.
The Biden Pentagon on Tuesday abruptly announced it was canceling its multi-billion JEDI cloud services contract with Microsoft and starting a new one that Amazon could compete for.
Amazon had been favored to win the JEDI contract after the idea for a single cloud infrastructure was first conceived in 2017, but it was ultimately awarded to Microsoft in 2019. Amazon sued, arguing they lost due to then-President Donald Trump’s personal dislike of Amazon CEO Jeff Bezos. A Pentagon inspector general report found that Trump did not interfere in the contract.
The Pentagon said the new contract, “Joint Warfighter Cloud Capability” or JWCC, would be “multi-vendor” and “multi-cloud” and explicitly named Microsoft and Amazon as the two top contenders […]
The situation is reminiscent of an eerily similar incident in which a number of legislators were privy to coronavirus pandemic information days ahead of the public, and they chose to rearrange their stock portfolios before the general population would ever get wind of the trouble coming over the horizon.
