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The show reported that Pelosi's husband invested in a large Visa IPO in 2008 around the time the House
-- then under Democratic control -- was considering legislation to lower credit card fees. Pelosi denied any wrongdoing, and said there was no connection between the investment and the legislation. The bill passed two years later, and Pelosi voted for it. It did not pass in 2008, a Pelosi aide said, because it came to floor at the end of the session
-- when the House was passing the biggest bailout of financial institutions in the nation's history. The aide, who was not authorized to be quoted by name to discuss the investment, said Pelosi's husband made the IPO purchase through his existing broker at Wells Fargo. The aide pointed out that the Visa IPO was among the largest ever at $17.9 billion. The "60 Minutes" program also raised questions about stock purchases by House Speaker John Boehner, R-Ohio, and Rep. Spencer Bachus, R-Ala., the current chairman of the House Financial Services Committee. Both denied any wrongdoing. The House is expected to pass the bill overwhelmingly, and it almost certainly will end up in a conference committee to reconcile the differences with the Senate.
[Associated
Press;
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