Former President Donald Trump came out in support of bi-partisan efforts to ban members of Congress from trading stocks after Nancy Pelosi’s incredible returns in the market stunned the country.
Trump said it is “not fair” to normal Americans for members like Pelosi and many others to cash in on what Trump called ‘inside information.’ Trump said: “She has inside information. It’s not right. It’s not appropriate. It shouldn’t be. She doesn’t want to discuss that.
“She wants to discuss other things that shouldn’t be discussed. Some of the things that they’re proposing now, like impeaching someone for absolutely no reason for a perfect phone call. You look at that. You look at impeachment—both of them.
“But you get impeached for a phone call that was like perfecto.
“So many different things. I happen to watch her and see her and dealt with her a lot and I think she’s clever in one way and stone cold crazy.
“She should not be allowed to do that with the stocks. She should not be allowed to do that. It’s not fair to the rest of this country.”
Last month Pelosi was asked if members of Congress should be allowed to trade as even AOC and others in her caucus came out against her on this issue.
“Should members of Congress and their spouses be banned from trading individual stocks while serving in Congress?” a reporter asked.
“No, we have a responsibility to report on the stocks. I’m not familiar with that 5-month review but if people aren’t reporting, they should be,” Pelosi said.
“This is a free-market economy. Members should be able to participate in that.”
Senator Josh Hawley (R-MO) introduced a bill that would ban insider trading by members of Congress.
“It’s time to stop turning a blind eye to Washington profiteering,” Hawley said.
“Year after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they’re supposed to be regulating.
“Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other at the expense of the country.”
Full backstory on Congress and stock trading: https://t.co/zbsLjAKp4M— Dave Levinthal (@davelevinthal) January 20, 2022