Donald Trump has recently backed the effort to restrict members of Congress from trading stocks. Nancy Pelosi has been a major beneficiary of the current policy that allows for such trading.
“She has inside information. It’s not right. It’s not appropriate. It shouldn’t be,” the former President told Breitbart. “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.”
Nancy Pelosi and her husband Paul have repeatedly been under fire over the last few years for making major stock trades just prior to the passing/pushing of legislation that affects those stocks.
Many, including former President Donald Trump, believe that Pelosi is someone who practices Insider Trading, which is a crime. Insider Trading occurs when the trader has an advantage due to knowledge of non-public or confidential information.
This is the type of information that members of Congress often have to be privy to. This has led many to the stance that senators and representatives shouldn’t be able to trade stock at all while holding office.
Most importantly, a person of Congress holding a stock can serve as a conflict of interest; causing the individual to vote for the betterment of their stock portfolio rather than their constituents.
Keven McCarthy is currently considering a measure to limit or restrict congressional stock trading if republicans were to take the house back after mid-terms.