White House Press Secretary Karoline Leavitt sharply criticized former House Speaker Nancy Pelosi over her controversial stock trades, calling her the primary reason a congressional stock trading ban is under serious consideration. During a recent press briefing, Leavitt highlighted the Pelosi family’s financial activity, reading aloud a list of trades made by Pelosi and her husband, Paul Pelosi, which she said consistently outperformed major investors. \u201cHer portfolio beat Warren Buffett and every hedge fund on Wall Street,\u201d Leavitt remarked.<\/p>\n
Leavitt emphasized the glaring gap between Pelosi\u2019s congressional salary\u2014\\$174,000\u2014and her reported net worth of over \\$400 million. \u201cThe reason this issue is even on the table is because of Nancy Pelosi,\u201d she declared. Leavitt cited a 70% return on Pelosi\u2019s portfolio in 2024 alone, more than doubling the performance of Buffett\u2019s Berkshire Hathaway during the same period, fueling public suspicion and criticism.<\/p>\n
She also stressed that President Biden shares the public\u2019s frustration over apparent conflicts of interest. \u201cHe doesn\u2019t want to see people like Nancy Pelosi enriching themselves off public service and ripping off their constituents in the process,\u201d Leavitt stated. She added that while the mechanics of proposed legislation are still being worked out, the president conceptually supports a trading ban for lawmakers.<\/p>\n
Momentum for reform has grown around Senator Josh Hawley\u2019s PELOSI Act. The bill would prohibit members of Congress and their spouses from owning or trading individual stocks while in office. Instead, lawmakers could invest in diversified mutual funds, ETFs, or U.S. Treasury bonds.<\/p>\n
The PELOSI Act has garnered bipartisan backing, including support from House Speaker Mike Johnson. \u201cMembers of Congress should be fighting for the people\u2014not day trading,\u201d Hawley said. He argued that the measure is crucial for restoring public trust in Congress, as Americans grow increasingly disillusioned by politicians appearing to profit from insider knowledge.<\/p>\n