Biden calls for ban on stock trading by lawmakers in apparent strike at Nancy Pelosi
Former House Speaker Nancy Pelosi played an important role in forcing President Joe Biden to drop his reelection campaign.
Yet in a bombshell move, Biden is apparently striking back at Pelosi by calling for a ban on insider trading by members of Congress.
Biden: "I don't know how you look your constituents in the eye"
According to Mediaite, Biden spoke out against the practice during an interview last week with "More Perfect Union" host Faiz Shakir.
"I don't know how you look your constituents in the eye and know because the job they gave you, gave you the inside track to make more money," Biden told Shakir.
BREAKING: Joe Biden told us in an exclusive interview that he thinks members of Congress should be banned from trading stocks.
Our full interview coming soon. pic.twitter.com/X0b6LKf37J
— More Perfect Union (@MorePerfectUS) December 17, 2024
"Nobody in the Congress should be able to make money while they're in the Congress," the president went on to declare.
Pelosi has become massively wealthy while in office
Mediate pointed out how any such ban would have a major impact on Pelosi, with Investopedia stating that her net worth is estimated at $240 million.
This is despite her earning just $174,000 annually as a member of Congress, with her salary rising to $223,500 during those years in which she served as House speaker.
Fox News reported last year that Missouri Republican Sen. Josh Hawley introduced the Preventing Elected Leaders from Owning Securities and Investments Act (PELOSI Act).
The legislation would require members of Congress and their spouses to either dispose of their stock holdings or put them into a blind trust within six months of taking office.
Democratic insider: Biden is "still very angry"
Mediaite noted that Democratic National Committee (DNC) finance committee member Lindy Li recently expressed agreement with a claim made by Daily Mail contributor Emily Goodin.
Goodwin suggested that the president and First Lady Jill Biden are seeking to retaliate against Pelosi before they leave the White House.
"She's totally right, and we can see that happen when Joe forcibly came out and cited insider trading. It took him 50 years to get to that point, but you know why he did that?" Li said during Friday's episode of "Fox News @ Night."
"Because he still has a bone to pick with Rep. Nancy Pelosi. He's still very angry that he got summarily pushed aside, and he’s finally saying that no one in Congress should be able to trade on the inside information, and you know who’s notorious for that? Nancy Pelosi," she added.