Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Pelosi makes about-face on insider trading in Congress

Pelosi makes about-face on insider trading in Congress

House Speaker Nancy Pelosi says she ‘trust her members’ to do the right thing, on one condition
Previously openly opposed to banning stock trading by members of Congress, Speaker of the House Nancy Pelosi (D-California) appeared on Thursday to change her mind. Her apparent openness to a proposal floated by two Senate Democrats, however, was conditioned on demanding the same of US Supreme Court justices.

“I have great confidence in the integrity of my members. They are remarkable. So when people talk about well, somebody might do this and somebody, I trust our members,” Pelosi, 81, told reporters on Capitol Hill.

“To give a blanket attitude of we can't do this and we can't do that because we can't be trusted, I just don't buy into that. But if members want to do that, I'm OK with that,” she added.

Her words were widely reported as an about-face on the contentious issue of stock trading by members of Congress, which has recently come under intense scrutiny in no small part due to Pelosi’s own financial success.

Financial disclosures show Pelosi does not own or trade stocks herself, but her husband Paul does. She is the top Democrat on the list presented last week by the watchdog Unusual Whales, showing that the stock portfolios of many US lawmakers enjoy returns on investment well above those of the Standard & Poor’s exchange-traded fund.

A Twitter account named “Nancy Pelosi’s Portfolio Tracker” put a spotlight on the speaker’s investments last fall and attracted over 200,000 followers before it was banned without explanation in early December. A week later, asked about the ethics of lawmakers trading stocks their laws could affect, Pelosi argued the US is a “free-market economy” and members of Congress “should be able to participate” in it.

Pelosi’s portfolio would be affected by the bill proposed by two Senate Democrats last week. Jon Osoff of Georgia and Mark Kelly of Arizona want to ban sitting members of Congress and their family members from stock trading, and would require them to either divest from the stock assets or put them in a blind trust while in office.

Two recent polls show anywhere between 67% and 76% of Americans would support such a ban. However, House Majority Leader Steny Hoyer (D-Maryland) said on Wednesday that lawmakers should have the same financial privileges as everyone else.

Pelosi’s apparent change of heart on the subject came with a caveat, as she told reporters the Supreme Court should be included in any new restrictions.

“If we're saying everybody should be living by the same standard then let – so be it. That's OK with me. But I don't think that the court should be let off the hook,” she said. “So, I say when we go forward with anything, let's take the Supreme Court with us to have disclosure.”

Members of Congress are already required to disclose any financial transactions within 45 days by the 2012 Stop Trading on Congressional Knowledge (STOCK) Act. It also bans them from using information they have as part of their job that is not available to the general public to turn a personal profit. A recent Business Insider report alleged that 54 lawmakers failed to comply with the disclosure rules.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Woman Receives Gift Card for Christmas – Discovers It Is ‘Worth’ 63,000,000,000,000,000 Pounds
United Nations Calls for Global Action Against Disinformation and Hate Speech Online
Tucker Carlson warns of an inevitable clash in Western societies over mass migration
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
Poland's President Karol Nawrocki ENDS support for Ukrainian citizens:
Italy's PM Giorgia Meloni highlights record employment and economic growth
Chancellor Friedrich Merz Re-elected as CDU Leader, Opposes AfD Influence
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
UK Government Considers Law to Remove Prince Andrew from Royal Line of Succession
Two teens arrested in France for alleged terror plot.
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
Greek Prime Minister Kyriakos Mitsotakis advocates for a ban on minors using social media.
Meanwhile in Time Square, NYC One of the most famous landmarks
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Former President Yoon Suk Yeol Sentenced to Life in Prison for Abuse of Authority
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
German Chancellor Friedrich Merz calls for real name use on social media.
Italian Police Arrest Man After Alleged Attempt to Abduct Toddler at Bergamo Supermarket, Child Hospitalised With Fractured Femur
British Tourist Arrested at Hong Kong Airport After Meltdown and Vandalism
European Commission Plans Purchase Incentives Limited to Vehicles Manufactured Largely in the EU
French District of Pas-de-Calais Introduces Immediate License Suspension for Drivers Using Mobile Phones
Volkswagen Targets €60 Billion in Cost Reductions as Sales Decline and Global Pressures Intensify
Eighty-Year-Old Lottery Winner Sentenced to 16.5 Years for Drug Trafficking
Rubio Calls for Sweeping U.N. Reform, Saying It Has Failed to End Wars in Gaza and Ukraine
10,000 Condoms Distributed at Winter Olympics 2026 Athlete Village Depleted Within 72 Hours
Poland's President Advocates for Evaluating Independent Nuclear Weapons Development
Mayor of Serdobsk in Russia’s Penza Region Resigns After Housing Certificates Granted to Migrant Family Trigger Public Outcry
China’s EV Makers Face Mandatory Return to Physical Buttons and Door Handles in Driver-Distraction Safety Overhaul
UK Green Party Considering Proposal to Legalize Heroin for an Inclusive Society
OpenAI and DeepCent Superintelligence Race: Artificial General Intelligence and AI Agents as a National Security Arms Race
We will protect them from the digital Wild West.’ Another country will ban social media for under-16s
Heineken announces cut of 6,000 jobs due to declining beer demand
Apple iPhone Lockdown Mode blocks FBI data access in journalist device seizure
Belgium: Man Charged with Rape After Faking Payment to Sex Worker
KPMG Urges Auditor to Relay AI Cost Savings
Canada Opens First Consulate in Greenland Amid Rising Geopolitical Tensions
China unveils plans for a 'Death Star' capable of launching missile strikes from space
Investigation Launched at Winter Olympics Over Ski Jumpers Injecting Hyaluronic Acid
U.S. State Department Issues Urgent Travel Warning for Citizens to Leave Iran Immediately
Wall Street Erases All Gains of 2026; Bitcoin Plummets 14% to $63,000
Eighty-one-year-old man in the United States fatally shoots Uber driver after scam threat
Political Censorship: French Prosecutors Raid Musk’s X Offices in Paris
AI Invented “Hot Springs” — Tourists Arrived and Were Shocked
France Begins Phasing Out Zoom and Microsoft Teams to Advance Digital Sovereignty
Tech Market Shifts and AI Investment Surge Drive Global Innovation and Layoffs
Global Shifts in War, Trade, Energy and Security Mark Major International Developments
Markets Jolt as AI Spending, US Policy Shifts, and Global Security Moves Drive New Volatility
Tesla Ends Model S and X Production and Sends $2 Billion to xAI as 2025 Revenue Declines
×