President Donald Trump called for an investigation into Former House Speaker, Rep. Nancy Pelosi‘s (D-Calif.) stock trading activities during a White House briefing on Wednesday, alleging she used insider information to generate exceptional market returns.
Trump Supports Congressional Trading Ban
When asked about Sen. Josh Hawley‘s (R-Mo.) legislation to ban congressional stock trading, Trump expressed conceptual support while targeting Pelosi specifically.
“Nancy Pelosi became rich by having inside information. She made a fortune with her husband, and I think that’s disgraceful,” Trump stated during the briefing.
The proposed HONEST Act, previously known as the PELOSI Act, would prohibit Congress members, presidents, and vice presidents from trading individual stocks.
Pelosi’s Portfolio Performance Under Scrutiny
Trump highlighted Pelosi’s market performance, claiming she achieved “the highest return of anybody practically in the history of Wall Street save a few.”
According to reports, the Pelosi family’s combined net worth reached approximately $413 million in 2024, up from $370 million the previous year. Their portfolio gained 65% in 2023 and 54% in 2024, outperforming many hedge funds.
Previous Trading Controversies
The criticism stems from well-timed trades by Paul Pelosi, Nancy’s venture capitalist husband. Notable transactions include selling 5,000 Microsoft Corp. MSFT shares before a Federal Trade Commission antitrust investigation and disposing of 2,000 Visa Inc. V shares worth $500,000-$1 million in July, months before a Department of Justice lawsuit against the payment processor.
Pelosi Backs Trading Restrictions
Despite the attacks, Pelosi publicly supported the congressional trading ban, stating she would back legislation “no matter what they decide to name it.”
“If legislation is advanced to help restore trust in government and ensure that those in power are held to the highest ethical standards, then I am proud to support it,” Pelosi said.
The bipartisan effort addresses growing concerns about congressional trading advantages, with several lawmakers achieving returns ranging from 70% to 149% in recent years.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Joey Sussman from Shutterstock
Great Job Kaustubh Bagalkote & the Team @ Benzinga – Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals Source link for sharing this story.
