Trump calls for Pelosi investigation over insider trading
Former President Donald Trump has called for an inquiry into Speaker of the House Nancy Pelosi over allegations of insider trading linked to her and her family’s lucrative stock market returns. Trump criticized Pelosi for having one of the highest returns in Wall Street history, suggesting she benefits from privileged details. The comments came in the context of a proposed bill, supported by Senator Josh Hawley, aimed at banning members of Congress from trading individual stocks to prevent conflicts of interest.While Trump expressed conceptual support for the bill, he did not formally endorse it and shifted focus back to Pelosi. Pelosi’s office denied any wrongdoing, stating she does not own stocks and has no direct involvement in the transactions. pelosi has also indicated she would support a ban on stock trading by lawmakers if the bill reaches the house floor. The broader debate includes bipartisan concerns about financial dealings of elected officials, including Trump’s own cryptocurrency activities.
Trump calls for Pelosi investigation over insider trading: ‘Disgraceful’
President Donald Trump called for an investigation into an old foe when asked about a bill to ban stock trading among members of Congress.
“What I do think is Rep. Nancy Pelosi (D-CA) should be investigated,” Trump said Monday when asked about the Preventing Elected Leaders from Owning Securities and Investments Act. “She has the highest return of anybody, practically, in the history of Wall Street, save a few. How did that happen? It happened because she knows exactly what’s going to happen.”
Pelosi, who was Speaker of the House during the final two years of Trump’s first term, is one of the richest members of Congress with a net worth estimated at over $250 million. Her family’s stock trading has stirred controversy in Washington for years.
“She made a fortune with her husband, and I think that’s disgraceful,” Trump added. “Nancy Pelosi became rich by having inside information.”
Sen. Josh Hawley (R-MO) is backing the so-called PELOSI Act, which would ban members of Congress from trading or even holding individual stocks.
“Americans have watched politicians earn a fortune using information not available to the general public while the average family struggles to get by. It’s just wrong,” Hawley has said of the bill, which recently advanced out of committee. “Members of Congress should be focused on delivering results for their constituents, not returns on investments.”
Trump did not endorse the bill directly, but said he likes it “conceptually” before turning the subject toward Pelosi.
However, Axios reported that the final bill may include the president and vice president along with lawmakers, which sparked pushback from the White House Office of Legislative Affairs. One workaround may be for the bill to only apply to future elected officials at the start of their terms, meaning that Trump himself would be exempted.
Trump has previously expressed support for the bill, though he was more demure about it on Wednesday.
Democrats have raised plenty of their own concerns about Trump’s moneymaking in office, such as his cryptocurrency dealings this year, and have introduced a bill that would prevent the president and other lawmakers from sponsoring crypto.
Pelosi’s office denied the allegations of insider trading.
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“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” Pelosi spokesman Ian Krager said.
Pelosi has also indicated she would support a stock trading ban if it reached the House floor.
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