A shocking new report released by The Washington Post on Monday revealed that House Speaker Nancy Pelosi is expected to “step down” after the 2022 midterms in which the Democrats are poised to suffer historic losses.
While rumors of such variety have long been in circulation, these appear to be the most credible to date and according to the report, Democrats are already prepping for new leadership to replace the longtime politician.
“After almost 19 years as House Democratic leader, Speaker Nancy Pelosi (Calif.) is expected to step down at the close of this Congress, ending a historic career that included trying to end George W. Bush’s Iraq War, implementing President Barack Obama’s signature health-care law, impeaching President Donald Trump twice and squeezing President Biden’s sweeping agenda through a narrowly controlled House,” the Post’s Marianna Sotomayor wrote.
Discussing some of the party’s suggested replacements New York Democratic Rep. Hakeem Jeffries was noted as “the early favorite,” according to the Post.
Majority Leader Steny H. Hoyer and Majority Whip James Clyburn are also among the names in contention for the leadership role. The report suggests, however, that some Democrats are looking to install a more radical progressive leader as Pelosi’s replacement.
“But the members interviewed overwhelmingly agreed that Pelosi’s replacement should be equally as historic as electing the first female speaker. That leaves White men who are mulling a run — such as Hoyer and Rep. Adam B. Schiff (Calif.), a Pelosi ally — in a difficult spot with a party that is looking for more diversity at the top. It is also to the benefit of Jeffries, who would be the first Black person to lead either party in either chamber,” the report added.
The report comes after Pelosi recently came under fire for her comments about lawmakers and their spouses being able to trade stocks.
“Because this is a free market and people – we are a free market economy,” Pelosi told a reporter. “They should be able to participate in that.” Just days after making the remarks, starting on December 17th and going through the 21st, Pelosi and her husband bought millions of dollars worth of call options for stocks including Google, Salesforce, Roblox, and Disney.
The New York Post reported:
“The Pelosi family’s trades this month include Google and Salesforce call options worth between $500,000 and $1 million each, as well as Roblox call options valued at between $100,000 and $250,000. The duo also bought up between $250,000 and $500,000 in calls for chipmaker Micron Technology and between $100,000 and $250,000 of Disney call options.
Paul Pelosi runs Financial Leasing Services, a real estate and venture capital investment and consulting firm. In recent years he’s made big-money bets on companies his wife is supposed to regulate, including Amazon, Apple and Google. December’s calls — which are set to expire in late 2022 and early 2023 — show that the Pelosis believe tech stocks are going to continue their current bull run in the new year, according to Thomas Hayes of Great Hill Capital.”
Author: Simon Dacken