White House Press Secretary Karoline Leavitt launched a pointed critique of former House Speaker Nancy Pelosi, targeting her stock trading activity as a major reason for the growing calls to ban congressional stock trades. During a recent press briefing, Leavitt read aloud a list of trades made by Pelosi and her husband, Paul Pelosi, claiming their returns consistently outperformed top hedge funds and even legendary investor Warren Buffett.
Leavitt emphasized that President Biden had spoken with Senator Josh Hawley, who is leading the charge on legislation to ban members of Congress from trading individual stocks. According to Leavitt, the president supports the principle behind the bill, stating that public service should not be used as a means for personal financial gain. Biden, she said, believes firmly in ensuring that elected officials are held to ethical standards when it comes to wealth accumulation.
Leavitt did not hesitate to directly accuse Pelosi of being the face of the problem. She cited Pelosi’s annual salary of $174,000 compared to her estimated net worth of $413 million as a glaring example of the issue. She further noted that Pelosi’s stock portfolio grew an astounding 70% in 2024, significantly outperforming both major hedge funds and even Berkshire Hathaway, the company led by Warren Buffett.
According to Leavitt, the president is aligned with public sentiment on this matter, echoing Americans’ frustration with politicians who appear to profit from insider access. “He doesn’t want to see people like Nancy Pelosi enriching themselves off of public service and ripping off their constituents in the process,” she said. She added that while details of the proposed legislation are still under discussion, the administration is in active talks with lawmakers on Capitol Hill.
This controversy has unfolded alongside political tension involving Senator Josh Hawley. Hawley, who introduced the stock trading ban bill, faced criticism from former President Donald Trump for his stance on an amendment that would have exempted the president from the ban. Trump called Hawley a “second-tier Senator” on Truth Social, prompting Hawley to clarify that the bill’s language actually exempts Trump and Vice President J.D. Vance, targeting only future presidents. Hawley described the backlash as a misunderstanding and reaffirmed his support for the ban.
