White House Press Secretary Karoline Leavitt sharply criticized former House Speaker Nancy Pelosi, spotlighting her wealth as evidence for a proposed ban on stock trading by members of Congress. Leavitt highlighted Pelosi’s $174,000 annual salary against her estimated $413 million net worth, suggesting improper enrichment through public service. The remarks, made during a press briefing, intensify scrutiny of congressional trading practices.
Leavitt emphasized that Pelosi’s stock portfolio surged 70% in 2024, outperforming major hedge funds and doubling Warren Buffett’s Berkshire Hathaway returns. She argued this underscores the need for reform, stating President Trump supports a ban to prevent lawmakers from profiting off insider knowledge. The proposed legislation, dubbed the PELOSI Act by Senator Josh Hawley, would prohibit lawmakers and their spouses from trading stocks while in office.
Pelosi has denied allegations of insider trading, asserting her husband, Paul, a venture capitalist, manages their investments independently. She recently called such claims “ridiculous” and expressed support for a trading ban to bolster public confidence, though critics question her sincerity given past resistance. The debate has gained traction, with bipartisan support for measures like the Bipartisan Restoring Faith in Government Act, which stalled in Congress.
The controversy highlights broader concerns about ethical governance. Proponents of the ban argue it would curb potential conflicts of interest, while opponents claim it unfairly restricts lawmakers’ financial freedom. As discussions with lawmakers continue, the White House’s pointed critique of Pelosi signals a push for accountability that could reshape congressional conduct.
