As part of a probe investigating whether Congress should be banned from trading stocks, a House Administration Committee hearing titled “Taking Stock of the STOCK Act,” led by Rep. Bryan Steil (R-WI), is digging into widespread allegations of insider trading.

For context, Witnesses from the Taxpayers Protection Alliance and the Manhattan Institute will push for much-needed reforms. The Wisconsin Republican stressed the importance of prohibiting profits from insider information, while Rep. Chip Roy (R-Texas) celebrated the move, making his Restore Trust in Congress Act to bar trading by members and their families.

Many of these changes have followed reports that Nancy Pelosi and her husband profited $130 million in trades during her career, fueling bipartisan calls for an ethics overhaul despite potential hurdles.

In any case, Rep. Bryan Steil, the chairman of the House Administration Committee, declared, “Members of Congress should never profit off insider information.” Additionally, he said,  “A number of proposals have been put forward to strengthen the STOCK Act. Our hearing will review the current law and evaluate the reforms needed to fix the system.”

Chiming in, Rep. Chip Roy celebrated the new moves. “I’m glad to see the House taking another step towards banning members of Congress from day trading stocks as it is far past time we act,” the conservative explained.

Describing the importance of these legal changes, Roy continued, “The American people should have faith that Congress is at work for the good of the country, not for their own bank accounts. I am proud to have led this charge for years and to be working with my colleagues on both sides of the aisle to address this issue.”

Concluding his comments, Roy made it clear that Steil was taking this issue seriously. He said, “I thank Chairman Steil for taking this issue seriously and holding a hearing. I look forward to working with leadership and my colleagues to put this conflict of interest to bed once and for all.”

Reacting sarcastically to the situation, Scott Jennings, CNN Political Commentator, joked about her absurd returns. “It’s not often that someone can become a titan of both Washington and Wall Street. Republicans will remember her as one of the most successful and prolific day traders—she beat the S&P 500 by 559% in her stock portfolio… I want Trump to put her in charge of the Social Security Administration. We could all retire in 6 months if we let this lady manage our portfolios,” he quipped.

When the news broke on social media, users were outraged by her wealth. “During her time in public service her net worth skyrocketed to over $270 million dollars insider trading and she gets to walk away with the money. Never being held accountable – She owns multiple mansions worth over $5,000,000 apiece – She owns a $200,000 Porsche 911 – Nancy Pelosi’s stock portfolio has hit all time highs as high as +93%,” one post noted.

Contextualizing her absurd success, one expert said, “Nancy Pelosi is one of the most profitable traders in the history of Congress. Since 2014, Nancy Pelosi’s portfolio has returned nearly +750%, more than TRIPLING the S&P 500. In 2024, Pelosi returned +54%, outperforming more than 90% of hedge funds. Truly one-of-one.”

SOURCE: https://theamericantribune.com/pelosi-gets-very-bad-news-as-congress-moves-to-investigate-her-130-million-windfall/?utm_source=Genz&utm_medium=facebookmeme