Former President Donald Trump launched a scathing attack on Speaker Emerita Nancy Pelosi Saturday night, alleging insider trading and questioning whether authorities are investigating her financial activities. The outburst followed renewed attention to congressional stock trading practices and a proposed bill aimed at curbing them.
In a post to Truth Social, Trump claimed Pelosi and her husband, Paul Pelosi, possess “average minds” that outperform “all of the super geniuses on Wall St.” He asserted this success is due to “INSIDE iNFORMATION!” and demanded, “Is anybody looking into this???” Trump also reiterated his grievances regarding the two impeachments he faced under Pelosi’s leadership, calling her a “disgusting degenerate” and questioning her current state of mind.
Trump’s comments were prompted by Senator Josh Hawley’s (R-MO) HONEST Act, formally known as the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act. The bill seeks to prohibit stock trading by all members of Congress, the President, and the Vice President. Hawley first introduced the legislation in January 2023, and it has faced revisions and debate as then. The initial naming of the bill, directly referencing Pelosi, drew criticism from both sides of the aisle.
Pelosi’s investment activity has garnered notable public attention, fueled by social media accounts and apps that track her trades. These platforms have become popular among investors seeking potential trading signals. Records show Paul Pelosi, a venture capitalist, has been the primary trader, with Nancy Pelosi reporting trades made by her husband. Her portfolio has included investments in companies like Apple, Microsoft, and Alphabet (Google’s parent company).
Despite the scrutiny, Pelosi has publicly stated her support for restrictions on congressional stock trading. In a statement released earlier this year, she emphasized the need for “strong openness, robust accountability and tough enforcement” regarding financial conduct in office. She added, “If legislation is advanced to help restore trust in government…then I am proud to support it – no matter what they decide to name it.” However, she and other congressional leaders have previously resisted outright bans, citing existing disclosure requirements and potential difficulties in implementing a complete prohibition.
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