President Donald Trump demanded an investigation into former House Speaker Nancy Pelosi’s stock trading practices during a bill signing ceremony on Wednesday, alleging she amassed wealth through insider information.
The remarks followed Trump’s signing of a Veterans Affairs home loan reform bill and came in response to questions about new legislation aimed at curbing stock trading by elected officials.
The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act, introduced by Sen. Josh Hawley (R-MO), would prohibit members of Congress, the President, and the Vice President from owning or trading individual stocks.
Trump expressed cautious support, saying, “I like it conceptually,” but added, “I’ll take a look at it,” noting he needed to study the bill further, according to the Gateway Pundit.
Trump then targeted Pelosi, stating, “Nancy Pelosi became rich by having inside information. She made a fortune with her husband, and I think that’s disgraceful.”
Trump claimed, “She has the highest return of anybody, practically, in the history of Wall Street, save a few,” adding, “And how did that happen? It happened because she knows exactly what’s going to happen, what’s going to be announced, she buys stock, and then the stock goes up after the announcement. And she ought to be investigated,” the Gateway Pundit reported.
Pelosi, a California Democrat and one of Congress’ wealthiest members with an estimated net worth exceeding $250 million, has faced scrutiny over her family’s stock trades for years.
Her office denied the allegations, with spokesman Ian Krager stating, per the Washington Examiner, “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”
Pelosi has voiced support for a stock trading ban, saying, “If legislation is advanced to help restore trust in government and ensure that those in power are held to the highest ethical standards, then I am proud to support it — no matter what they decide to name it,” the Examiner reported.
Hawley, a vocal advocate for the bill, said, “Americans have watched politicians earn a fortune using information not available to the general public while the average family struggles to get by. It’s just wrong,” reported the Examiner.
The PELOSI Act, which recently advanced out of committee, seeks to refocus elected officials on public service rather than personal investments.
The bill’s scope, potentially including the President and Vice President, has drawn pushback from the White House Office of Legislative Affairs, with suggestions it may apply only to future elected officials, according to the Examiner.
Trump, who previously called for Pelosi to be prosecuted for her trades during his 2024 campaign, did not fully endorse the bill on Wednesday but reiterated his call for an investigation into her financial dealings.