Nancy Pelosi made between $1-5 million on Asian investments in 2011
On the heels of The Weekly Standard’s report yesterday that DNC chair Debbie Wasserman Schultz — a vocal critic of Mitt Romney‘s investing practices, had herself dabbled in the foreign markets — we can add Nancy Pelosi to the list of prominent Democrats to profit from overseas investments.
According to Pelosi’s 2011 financial disclosure statement, the Democratic House Minority Leader received between $1 million and $5 million in partnership income from “Matthews International Capital Management LLC,” a group that emphasizes that it has a “A Singular Focus on Investing in Asia.” A quick trip to the company website reveals a featured post extolling the virtues of outsourcing.
“Designed in California, Made in Manila” sounds like an excellent title for a smear ad to be run the by the Barack Obama campaign. Instead, it appears to be Nancy Pelosi’s investment strategy.
Pelosi is also a small investor in the embattled “Moduslink Global,” one of the “outsourcing pioneers” that Mitt Romney has been criticized for associating with while at Bain Capital.
It’s not surprising that a wealthy politician would invest globally (nor should it be considered problematic). This is interesting because of the attacks on Mitt Romney’s investments — because Obama purportedly believes in the virtues of “insourcing” and anti-globalization. (Obama appears to be running on a protectionist platform that went out of style with Canadian tuxedos)
Obama sure can preach the economic nationalism, but it doesn’t appear his fellow leaders and surrogates are buying the message.
If they aren’t, why should other Americans?