Recently, former President Donald Trump proclaimed that Democrat House Speaker Nancy Pelosi should not be allowed to trade individual stocks, given that such activities are “not fair to the rest of this country.”
During a Breitbart interview, he remarked that Pelosi is “clever in one way,” though the House Speaker is also “stone cold crazy.”
Trump, who was promoting his photo book “Our Journey Together,” was undoubtedly referring to the reported $30M that Pelosi has made via investments in Big Tech, companies that she routinely oversees, per reports from Newsmax.
Moreover, the House Speaker currently holds a net worth between $40M and $252M, underscoring how profitable the markets have been for the politician over her decades in D.C. The benefits have also extended to the rest of Pelosi’s family, who collectively bet millions via call options that the stock prices for Google, Roblox, Salesforce, and Micron Technology would increase. Thus far, the bet appears to have paid off handsomely
In addition, Business Insider has reported that 54 members of Congress, as well as 182 senior staffers in Congress, have failed to disclose their trades in a timely fashion, thereby disregarding the mandates of the STOCK Act. In addition, the publication also noted that the trading behavior of Pelosi and her husband comprises “borderline” market activity.
The publication also noted that two-thirds of American voters believe that legislators should be barred from trading stocks while serving in office.
When Pelosi was questioned about the immense wealth she has accrued while serving as a public representative in December, she sniffed, “we’re in a free market economy,” adding no other explanation.
Consequently, House Minority Leader Kevin McCarthy has remarked that if Republicans do sweep the House of Representatives in the impending midterm elections, then he would contemplate placing limits on stock trades performed by individual legislators. Additionally, other legislators have also brought forth bills that may control the stock trades of varied legislators.