Pelosi made up to $5 million by … offshoring?
posted at 1:21 pm on July 11, 2012 by Ed Morrissey
I could have added this Matt Lewis find to my earlier post, but this deserves its own thread for a couple of reasons. One, it’s much more on point than comparisons to Debbie Wasserman Schultz and Valerie Jarrett. Two, it’s yet another reminder of the bad decision made by House Democrats after their 2010 midterm debacle:
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. …
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.
And thus does the “outsourcing” meme implode. This doesn’t involve an indirect investment by a retirement account, nor an ambiguous line of credit. Pelosi’s investment in offshoring is direct, substantial, purposeful — and profitable. It also shows that the leader of Congressional Democrats followed Romney’s own investment pattern, which makes it very, very difficult for Obama to demonize Romney’s investments.
As Matt notes, there is nothing wrong with investing overseas. People should put their money where they find a good return and an ethical application of business principles. For the House Minority Leader, that ethical application includes supporting jobs overseas — and that’s a defendable, rational choice for private business transactions, just as it was and is for Mitt Romney. Now, when it comes to public funds derived from a program that was sold as a means of “saving and creating” jobs here in America, well, that’s a different kettle of fish altogether. Like I said earlier, that’s a debate that the GOP will welcome.
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Well sure, but we can’t allow greedy Republicans to do that…..
dentarthurdent on July 11, 2012 at 1:24 PM
Pelosi: “You mean towns in China is not the same as Chinatown?”
RBMN on July 11, 2012 at 1:24 PM
I am heartened by the tactical stupidity of the left this cycle.
rob verdi on July 11, 2012 at 1:24 PM
But the MSM will completely ignore this news. It doesn’t fit with their agenda.
Ward Cleaver on July 11, 2012 at 1:24 PM
Madam (as in whorehouse) Pelosi
Schadenfreude on July 11, 2012 at 1:24 PM
Since Romney became the nominee, is there a Democrat attack that hasn’t backfired?
Jim Treacher on July 11, 2012 at 1:25 PM
Wasserman-Schmutz has account in Switzerland, go figure!
Schadenfreude on July 11, 2012 at 1:25 PM
Isn’t she famous for not hiring union workers in an area that is union dominated or is that just a rumor?
Cindy Munford on July 11, 2012 at 1:25 PM
And another batch of spaghetti slides off the wall.
Mr. D on July 11, 2012 at 1:26 PM
Breaking news: Nancy pelosi is a lying, hypocrite, scumbag, socialist progressive!
Film at 11.
Wolfmoon on July 11, 2012 at 1:27 PM
And how much of her investments went to overseas companies that profited from obummer’s green energy “investments”?
dentarthurdent on July 11, 2012 at 1:27 PM
The truth and facts are irrelevant to a Socialist pig.
You might as well try to discuss such things with a garden slug – it’ll be just as receptive.
OhEssYouCowboys on July 11, 2012 at 1:28 PM
the hell you say……/
ted c on July 11, 2012 at 1:29 PM
Meanwhile, Whiner in Chief
Schadenfreude on July 11, 2012 at 1:30 PM
At what point does the Democratic Party implode? Americans strongly reject Democrats strong leftist bent, yet they continue to steadfastly pursue their own destruction. Pelosi oversaw one of the most embarrassing electoral drubbings of a single party in our history, yet she still leads the Dems in the House. She embraces, and demands adherence to, socialistic policy that Americans are rejecting, yet she still leads the Dems in the House. Americans despise this woman on a personal and political level, yet she still leads the Dems in the House.
Is the Democratic Party really this out of touch and suicidal, or are they spineless? Will they ever figure out their message is failing, or is it messaging all the way down?
NotCoach on July 11, 2012 at 1:31 PM
That picture of Pelosi looks like Goebbels, at a Nuremberg rally.
OhEssYouCowboys on July 11, 2012 at 1:31 PM
Eh. Story will get swept under the MSM rug. “Relax, Jake Tapper. It’s Chinatown.”
apostic on July 11, 2012 at 1:32 PM
Hey Ed! Last time I checked, my map showed that Asia ain’t be in the United States…. I thinkie that that lil’ factoid right thar makes this inve$tment a problem for them Democrats.
ted c on July 11, 2012 at 1:32 PM
Pretty sure this is Bush’s fault.
Tim_CA on July 11, 2012 at 1:33 PM
Worse still is O is right now trying to secretly outsource much of our govt to the globalists at the U.N.. Seriously. Make a deal of it this campaign.
And try to revive the Ground Zero Mosque issue or something similar (like that congressman that Hannity noted last night was pushing Madrassa schools for America), because O hit his lowest approval rating (Rasmussen tracker) on Sep 4 2010, right at the height of the flap about the G Zero Mosque. That’s a win win issue for us.
anotherJoe on July 11, 2012 at 1:34 PM
She’s no different than the other 434…..
repvoter on July 11, 2012 at 1:35 PM
She should have read the prospectus first – of all people Nancy Pelosi should know this.
http://www.fiscalwars.wordpress.com
stout77 on July 11, 2012 at 1:36 PM
Too bad the mainstream media will never report that liberals are hypocrites and are doing what they say Mitt Romney is doing as well.
Just like Mitt, what Nancy Pelosi and DWS want to do in private with their money is none of anyones business. Too bad that these revelations will not deter Democrats from continuing these attacks because of the media’s double-standard though.
milcus on July 11, 2012 at 1:36 PM
Dancing to the Left’s narrative, even (or especially) when showing them to be total hypocrites.
Every minute / word / byte spent doing so is WASTED. Particularly within our own parlors.
rayra on July 11, 2012 at 1:37 PM
Well now we have that old harpy, nan, right above the spineless cockroach dingy in one day! Who do I detest more harpy nan or dingy harry? Equal detest I guess!
L
letget on July 11, 2012 at 1:37 PM
It does not appear so, but the credit goes to you and yours in the blogosphere. People know they can look elsewhere than the “legacy media” for information.
So thank you.
kim roy on July 11, 2012 at 1:40 PM
A Napa Valley winery, IIRC. I also believe she and her husband own a tuna cannery in Guam, where she fights tooth and nail to prevent minimum wage laws being instituted.
BobMbx on July 11, 2012 at 1:41 PM
As I said in the earlier thread, it’s always good to point out the hypocrisy of progressives.
But what this issue comes down to is that saying going around:
“Apparently I’m supposed to be more concerned with how Romney spends his own money than how Obama spends MY money.”
The Rogue Tomato on July 11, 2012 at 1:41 PM
Are you sure about that?
O’bama says Hawai’i is “in Asia”
Del Dolemonte on July 11, 2012 at 1:42 PM
Of course not, cuz they don’t have any compassion nor the best interests of the “little people”, the 99%ers, at heart. Only the elite of the left deserve to have all the money for themselves so they can graciously share it with those most in need, and offer their employees the highest pay and benefits they deserve.
hawkeye54 on July 11, 2012 at 1:42 PM
Oh shut up/ Romney needs to get out there and defend himself, he needs to look the American people in the eye, and tell them who he is because he’s not fighting back or something like that.
Get with the program, Comrade/
JPeterman on July 11, 2012 at 1:43 PM
American Samoa, to be exact.
Del Dolemonte on July 11, 2012 at 1:44 PM
So let it be written, so let it be done.
BobMbx on July 11, 2012 at 1:44 PM
But… will they?
*exasperated sigh*
Romney is a better communicator on these basic issues than McCain is, but alas I don’t think people believe anything he says… even if he’s right. I’m getting pretty bummed out about our chances for November.
Violina23 on July 11, 2012 at 1:45 PM
This backlash is only just beginning.
The dems are knee deep in their hypocritical outsourcing theme.
The ads exposing this will only lead to further distrust of Obama and every word that comes out of his mouth.
Pundits that have been he!! bent on pushing this theme are being left tongue tied like Andrea yesterday.
As more of this comes out….we will see Obama’s “outsourcing” ads disappear along with this being such a hot topic on the News shows.
Pelosi….Obama…..DWS outsourcing and making money off of it…..who cares…..we won’t to know why Ann Romney rides a horse and what kind of pranks Romney pulled in 5th grade.
As Obama’s smear tactics get thrown back in his face……he will probably switch gears,throw out more distractions for the media to run with, and declare yet another “pivot to jobs” line.
Baxter Greene on July 11, 2012 at 1:45 PM
Heh. I don’t think so. Who knew whack-a-mole could be such fun?
txhsmom on July 11, 2012 at 1:48 PM
Well, I was off by only a trillion millimeters.
(Thats a joke, no math lesson required)
BobMbx on July 11, 2012 at 1:48 PM
Gosh San Fran Nan…don’t you just hate it when you are caught in a hypocritical situation? Oh…this is about Botox Nancy? Never mind…the former Speaker and a drug addled neo-Democrat flower child…move on, nothing see here.
norm1111 on July 11, 2012 at 1:48 PM
Meh
-lsm
Focus on mitt only
cmsinaz on July 11, 2012 at 1:50 PM
Right…
Exposing Obama as the puppy muncher was right on time.
Looks like the Obama team are starting to run out of sh!t to make bogus scandals out of.
They might have to actually be held responsible for their failed policies before November gets here.
Baxter Greene on July 11, 2012 at 1:52 PM
For the love of God Ed, please put the crack pipe down. NOTHING makes it even remotely difficult for Obama and his Marxist Cronies in the Democrat Party to LIE their assets off.
How many times do you have to be beaten about the head and shoulder before it finally sinks in? the only Rules that Obama and the Democrats are going to abide by… are Saul Alinsky’s Rules for Radicals.
You cannot force Obama or the Democrats to live up to their own rules, because their own rules are “The end justifies the means” They have absolutely ZERO morals or ethics.
SWalker on July 11, 2012 at 1:54 PM
No no no no – you have to invest in it first to find out what you’re investing in……..
dentarthurdent on July 11, 2012 at 1:54 PM
He may well be seeing the future of the state.
With Chinese, Koreans, and Japanese continuing in buying more real estate in Hawaii, it might just be part of Asia all too soon.
hawkeye54 on July 11, 2012 at 1:57 PM
More like “KHAAAAN!!!”
Yiwen on July 11, 2012 at 1:58 PM
Why they can NOT be beaten with silk gloves.
Losing with gloves is still losing.
Romney/West or
Romney/Walker
Schadenfreude on July 11, 2012 at 1:59 PM
When I lived in Japan, the Japanese used to joke that Hawaii was their 48th Prefecture.
Yiwen on July 11, 2012 at 2:00 PM
Every single time I see that picture of her, I can’t help but think “Dump a bucket of green makeup on her, put a black pointy hat on her head, hand her a broom and cast her in Sam Raimi’s upcoming version of The Wizard of OZ! She’s just passed the screen test!“
pilamaye on July 11, 2012 at 2:00 PM
While I appreciate your confidence in me, don’t ya think I’m a bit unknown to be VP??? ;p
SWalker on July 11, 2012 at 2:01 PM
Democrats can do anything, Republicans are always are wrong and do wrong.
albill on July 11, 2012 at 2:02 PM
….see how the answer is coming… at the exact same time!
KOOLAID2 on July 11, 2012 at 2:03 PM
According to inthemiddletard this strategery is working brilliantly b/c Rep. are throwing it back at the Dems or something!!
JAM on July 11, 2012 at 2:03 PM
San Fran Nan gets more and more indescribably babelicious every day.
DuctTapeMyBrain on July 11, 2012 at 2:05 PM
This is different!! SHUT UP!!!
Just one more lame attempt form the incompetents at team 0bama. I hate to think how this team of brain trusts would deal with Putin when he decides to stir up some shit.
jukin3 on July 11, 2012 at 2:06 PM
I guess Pelosi isn’t “Betting on America.”
bw222 on July 11, 2012 at 2:07 PM
One of the problems Obama, Pelosi and Wasserman Schultz have is that while the MSM will never call them out, the conservative blogosphere will.
bw222 on July 11, 2012 at 2:09 PM
Haughty rules and moral stances for thee, but not for ME.
And what about her special insert into the stimulus/tax law that kept her Guam fisheries company from having to pay minimum wage? Huh?
This overseas investment story is going to be the tar-baby with a grenade in it’s diaper for the Dhimmicraps. Should be amusing and interesting if (a big IF) the Manipulated Stories Machine DOES IT’s JOB! I will not hold my breath.
Missilengr on July 11, 2012 at 2:11 PM
SWalker on July 11, 2012 at 2:01 PM
:)
Schadenfreude on July 11, 2012 at 2:11 PM
Ya wanna talk offshoring? Here is some offshoring for ya…
The last reliable figures I have seen are that foreign entities hold $4.62 trillion in our sovereign debt. The interest alone on that debt at current 52-week yields is $20 billion dollars per year. That is to say nothing of payback on principal!
What an idiotic line of attack.
However, the Mediacrats don’t care about the substance of the argument. It is all about finding some word that sounds “evil” and pinning it on the opponent. Sort of like meaningless drivel like “extreme” and “hateful.”
I think it is high time we wake up to this game. I do not think it is beyond the pale to call liberals “child abusers,” “kidnappers,” “molesters” and “perpetrators.” Everything they do is harmful to our children and grandchildren, and they are stealing any kind of meaningful future from them. Okay, maybe a little strong, but you catch my drift.
TheMagnanimousMan on July 11, 2012 at 2:13 PM
The Democrats won’t even notice the hypocrisy, they swim in it.
GarandFan on July 11, 2012 at 2:15 PM
No no no no – you have to invest in it first to find out what you’re investing in……..
dentarthurdent on July 11, 2012 at 1:54 PM
Ok, you owe me a new keyboard…
Strike Hornet on July 11, 2012 at 2:18 PM
No it doesn’t. Obama can babble on about cross country vacations when he was a child without the typical Democrat voter thinking, “wait, didn’t he not visit the mainland until he was 18?” What makes you think Obama can’t slip that one past his voting base?
MNHawk on July 11, 2012 at 2:18 PM
You are sick sick sick…..
I’ll need bleach and alcohol to erase that mental image now….
dentarthurdent on July 11, 2012 at 2:19 PM
teflon Mitt
burserker on July 11, 2012 at 2:19 PM
More or less what I just said to verbalunatic over on the Holder NAACP thread.
dentarthurdent on July 11, 2012 at 2:20 PM
If I send you a green one, can I get Energy Emperor Chu to pay the bill?
dentarthurdent on July 11, 2012 at 2:21 PM
The Democrats have about convinced me that if hypocrisy is the tribute vice pays to virtue, they’ll never be hypocrites because they have no virtues to pay tribute to.
SDN on July 11, 2012 at 2:24 PM
So wait, does that mean it’s NOT part of the 57 states?
ICanSeeNovFromMyHouse on July 11, 2012 at 2:25 PM
Nuh-UH!
Remember the modern Rules of Journalism when it comes to what is covered, and how it’s covered:
1. Fake, But Accurate;
2. It Might be True; and
3. But She’s a Democrat, so it’s Different!
I suggest that Pelosi’s activities in this regard clearly fall under Rule 3.
Spurius Ligustinus on July 11, 2012 at 2:27 PM
Soooooo – does that mean someone born in Hawaii, Asia is actually not eligible to be President of the US according to the Constitution?
dentarthurdent on July 11, 2012 at 2:28 PM
Are you serious? Are you serious?
/
Eren on July 11, 2012 at 2:36 PM
But…..But…..But…..My G-d! That makes her a hypocrite! Who’d ever have thunk!!
rpjkw11 on July 11, 2012 at 2:44 PM
Andrea Mitchell is just another hypocritical limousine liberal. She’s married to Alan Greenspan, the former Chairman of The Fed. The same guy who helped crush any regulation of the derivitatives industry while he was Chariman of the Fed.
When he left that post he worked for the bond kings at PIMCO and later with hedge-fund company Paulson & Co, you know, the one that colluded with Goldman Sachs to bet against their own recommendations on real estate derivatives.
Really swell people. Nice marraige you got there, Andrea!
jb34461 on July 11, 2012 at 2:44 PM
it’s happening as we speak, er, type.
They are doing what their masters, I mean, their master, tell(s) them to do.
williampeck1958 on July 11, 2012 at 2:44 PM
Didn’t Pelosi also own interests in some tuna packing business that was in the south sea islands somewhere? The idea was a lack of minimum wage laws to deal with.
Terrye on July 11, 2012 at 2:46 PM
Yup – check earlier on the thread.
dentarthurdent on July 11, 2012 at 2:48 PM
Nanzi and her husband own a NICE hotel in the the Napa/Sonoma area and REFUSE to let the hired help unionize…
She is the Queen of Hypocrites everywhere…
Khun Joe on July 11, 2012 at 2:50 PM
O’bama says Hawai’i is “in Asia”
Del Dolemonte on July 11, 2012 at 1:42 PM
plewis on July 11, 2012 at 2:55 PM
I agree. The constant limp noodles they keep throwing at Romney points to a desperate try to get some traction in any way possible. And they simply can’t.
itsspideyman on July 11, 2012 at 2:57 PM
“Polynesia” is a geographical subregion, and that is about all.
However, “Asia” is a continent.
Obviously you were afraid to even watch the youtube clip to see O’bama make a fool out of himself yet again. We feel your pain.
Del Dolemonte on July 11, 2012 at 3:26 PM
Actually, starting back in the mid 1980s the Japanese bought up much of Waikiki.
And after they bought the hotels and condos, they started buying up the fanciest homes on O’ahu. Some investors took a trip there that only lasted a few days, and during that short time they would buy as many as a dozen homes.
However in recent years the Japanese have been surpassed in the residential sector by…the Canadians. They now own the largest amount of residential property on Mau’i and the Big Island, but no stats were available for Kaua’i.
The Japanese still however own more real estate on O’ahu than any other country does. But remember that the Japanese domestic real estate market today is down 60% from where it was 20 years ago, so they are still outsourcing their cash to Waikiki.
Del Dolemonte on July 11, 2012 at 3:36 PM
San Fran Nan gets more and more indescribably
babebabblelicious every day.DuctTapeMyBrain on July 11, 2012 at 2:05 PM
FIFY
Marcola on July 11, 2012 at 3:37 PM
Is it just me, or, are the screen cap pictures getting creepier?
trigon on July 11, 2012 at 3:39 PM
However, “Asia” is a continent.
plewis on July 11, 2012 at 5:33 PM
Demagogued profit making strategies for duplicitous liberals, but not for thee eebil conservatives.
locomotivebreath1901 on July 11, 2012 at 5:42 PM
How, exactly? The only people who are ever going to know about this are the ones who read conservative blogs and/or listen to conservative talk radio. The rest of the media won’t ever mention it, hiding behind the excuse that it isn’t in the interest of their viewers since she’s not running for office.
Besides that, since when have facts blatantly proving a Democrat wrong ever stopped one from continuing a hypocritical line of attack (remember Republicans were to blame for the housing meltdown, even though we had video footage of Pelosi and Frank dismissing attempts to avert it ahead of time as “Republican fearmongering”).
sockpuppetpolitic on July 11, 2012 at 6:33 PM
You are correct, Cindy!
The Napa County Peace & Freedom Party has a pretty good list of the many ways Nancy Pelosi demonstrates her hypocrisy.
Hey, if the Socialists of the Peace & Freedom Party can figure this out, perhaps some day the mainstream media will think about doing some investigative reporting on Pelosi.
Nah, that is too much to hope for.
wren on July 11, 2012 at 7:01 PM
Which is why those of us who are informed need to share the information we gather via conservative blogs and radio with as many people as possible, EVERY DAY.
Once you start sharing info, you will be amazed at how many opportunities you have to encourage people to think more deeply about the upcoming election.
You can chat with friends, family, neighbors, people at your gym, people waiting in line with you for an event, your barber/hairdresser, people who attend presentations on local/state/Federal political issues…
How many people have you influenced today?
wren on July 11, 2012 at 7:12 PM