Trump Says Pelosi Should Not Trade Stocks, Amid Calls for Congress Ban

  • Donald Trump said Wednesday that Nancy Pelosi should be barred from trading stocks.
  • His intervention is the latest in a series of calls to limit stock-trading in Congress.
  • Insider’s ‘Conflicted Congress’ project showed widespread violation of rules meant to regulate the practice.

Former President Donald Trump said Wednesday that House Speaker Nancy Pelosi should be banned from trading individual stocks.

“It’s not right. It’s not appropriate,” Trump told the right-wing outlet Breitbart during a promotional call for his photo book “Our Journey Together.”

“I think she’s clever in one way and stone cold crazy. She should not be allowed to do that with the stocks … It’s not fair to the rest of this country,” he said.

Trump’s intervention — albeit aimed at a single political foe of his — is the latest in a series of calls to limit or stop members of Congress, their spouses, and their aides from trading stocks while in office.

They follow the publication of Insider’s “Conflicted Congress” project, which found widespread violation of laws meant to regulate how lawmakers trade stocks, and abundant conflicts of interest.

Insider found that 54 members of Congress and 182 senior congressional staffers violated the STOCK Act, which mandates timely disclosure of trades, often facing no penalty for doing so.

Pelosi and her husband, Paul Pelosi, have made millions on tech stocks, financial disclosures show. Insider rated the trading activity of her office as “borderline” after uncovering a STOCK Act violation by one of her staffers.

Pelosi said in December that lawmakers should be free to trade stocks. “We’re a free market economy,” she said.

However, since then many in Congress have taken a different view.

House Minority Leader Kevin McCarthy said this month he would consider limits on lawmakers holding or trading stocks if the Republicans win a majority in the House in the mid-terms.

Several bills seeking to introduce laws to control how lawmakers trade stocks also have been tabled in recent weeks, one from Democratic Sens. Jon Ossoff and Mark Kelly and another from Republican Sen. Josh Hawley.

Pelosi more recently has seemed open to some changes to the system. On January 13, Pelosi asked the Committee on House Administration to consider harsher penalties for violation of the STOCK Act.

“The speaker believes that sunlight is the best disinfectant and has asked Committee on House Administration Chair Zoe Lofgren to examine the issue of Members’ unacceptable noncompliance with the reporting requirements in the STOCK Act,” Pelosi spokesman Drew Hammill told Insider at the time.

The White House said Tuesday that the issue is one for Congress to work out.

Recent polling conducted by the firm Data for Progress found that 67% of US voters support a ban on lawmakers trading stocks while in office.