Staff Reports
Former House Speaker Nancy Pelosi may have underestimated the wrath of President Joe Biden. Recent developments suggest that Pelosi’s influence over Biden’s political maneuvers is far from over. After reportedly pressuring Biden to consider stepping back from the 2024 election, the president has emerged swinging, taking aim at the lucrative underbelly of insider trading among lawmakers—a practice for which Pelosi has become a poster child.
Biden, in a rare moment of clarity, expressed his disapproval of Congress members profiting from their positions during a recent interview. He lamented the ethical dilemma faced by representatives who use their insider knowledge for personal gain, indicating that such actions compromise the trust placed in them by their constituents. This unexpected step by Biden could be viewed as either a long-overdue move towards accountability or a cheeky jab at Pelosi’s sizable fortune amassed during her storied political career.
🚨 BREAKING: Nancy Pelosi just got TERRIBLE NEWS as Joe Biden calls for a new bill that will BAN stock trading for members of Congress, their spouses, and their children.
DO YOU SUPPORT THIS BILL? pic.twitter.com/LiQU3m983t
— Proud Elephant 🇺🇸🦅 (@ProudElephantUS) December 17, 2024
Pelosi’s impressive net worth—approximately $240 million—raises eyebrows considering her congressional salary of just $174,000, which also climbed to $223,500 during her tenure as Speaker. It’s a classic case of “public service” that seems to pay off handsomely, and the exaggerated wealth accumulation that comes during years in office makes the case for stricter rules around congressional earnings more compelling. Biden’s call for a ban on insider trading could spell trouble for the former Speaker and her fellow lawmakers, who might want to reconsider their investment portfolios.
In a move that most conservatives can appreciate, Senator Josh Hawley introduced the PELOSI Act, which would force Congress members to sell their stocks or place them in a blind trust upon taking office. It’s a straightforward approach to eliminating conflicts of interest and promoting transparency, and it’s remarkable to see such measures gain traction, especially when they target such high-profile figures like Pelosi.
Discontent with Pelosi appears to be festering within Democratic ranks as well. Insiders have suggested that Biden’s recent comments about insider trading may stem from lingering resentment after his public sidelining by Pelosi. A Democratic National Committee member hinted at Biden’s ongoing grievances, insinuating that this could be a calculated response to the perceived slight. With tensions apparently brewing, it’s both amusing and ironic to witness a party that has historically defended such ethical ambiguities suddenly facing the music over decades of questionable practices.
