It’s Time to End Politicians Profiting from the Stock Market
The queen of stock trading in Congress, Rep. Nancy Pelosi, and her husband are in the spotlight once more.
On Thursday, The Post revealed that Paul Pelosi executed a stunning $38 million in stock trades in the weeks ahead of President Trump’s inauguration.
On January 14, Paul purchased $100,000 in call options for the relatively obscure tech firm Tempus AI.
Keep that name in mind in the coming months; given the Pelosis’ track record, the stock is likely to soar.
Indeed, the Pelosis have generated such substantial profits from their investments that an entire industry of exchange-traded funds and social media profiles has emerged to track their every action.
The mere announcement of Paul’s purchase caused Tempus AI’s stock to skyrocket — as everyone assumes Nancy possesses insights that the general public lacks, which is a solid wager concerning one of Congress’s most influential figures.
However, when politicians (and their undoubtedly well-informed spouses) make extraordinarily “fortunate” market choices that net them millions, the public is right to question whether some unethical dealings have occurred.
This situation is a blatant, unapologetic affront. It only fuels distrust toward elected officials, undermining political stability and increasing public resentment.
In fact, the Pelosis don’t even try to be subtle about it: Last year, Paul liquidated over $500,000 in Visa stock just three months prior to the company being subjected to federal antitrust scrutiny.
Unless he’s a modern-day Nostradamus, that action stinks of insider information, prompting then-candidate Donald Trump to call for Nancy’s prosecution.
Meanwhile, President Biden remained silent on the topic until the last moment, finally declaring in December that “nobody in Congress should be able to profit off the stock market while serving in Congress.” (Was that a parting shot at Nancy since she got him removed from the Democratic ticket?)
It wasn’t exactly a bold statement, considering he was already on his way out.
It’s true that Nancy isn’t the only politician profiting from stock trading; many Republicans also rake in significant profits.
However, she stands out among the crowd: Her investment portfolio achieved a remarkable 65% return in 2023, far surpassing the S&P 500’s 24% increase.
Thus, it’s no wonder she has taken the lead in blocking bipartisan efforts to prohibit members of Congress from trading stocks.
No, public service shouldn’t necessitate a pledge of poverty. Yet when elected officials become wealthy through stock trades based on insider information, it’s blatantly unfair to less affluent Americans, nearing the line of outright corruption.
Trump, alongside the Republican-majority Congress, must put an end to this once and for all.