Donald Trump just went viral for calling out Nancy Pelosi, suggesting she's guilty of insider trading.
Trump questioned how a career politician earning a $200,000 salary could be worth almost half a billion dollars.
He spoke out after Pelosi's husband, Paul Pelosi, sold $500,000 of Visa stock shortly before a Department of Justice lawsuit against the company.
Former House Speaker Pelosi and other members of Congress are either the luckiest people on the planet, who know exactly when to buy or sell their assets, or they're gaming the system, he indicated.
"Think of that. Nancy Pelosi sold vast amounts of Visa stock one day before the big lawsuit that we all read about a few days ago," he said at a press conference Thursday.
"You think it was luck? I don't. She should be prosecuted," Trump said. "Nancy Pelosi should be prosecuted for that."
Trump Stirs Controversy Over US Insider Trading
In 2022, when asked about a proposed ban on Congress members and their spouses holding and trading stocks while in office, Pelosi said: "This is a free market, and people — we are a free market economy. They should be able to participate in that."
But when lawmakers push financial legislation, they're setting the stage for America's businesses, stock traders, and the whole economic landscape. They create the rules of the game, critics argue.
Since then, numerous insider trading accusations have been brought against everyone, including members of Congress:
- u/deepf****ingvalue: Keith Gill of the GameStop saga was questioned over insider trading, even as recently as this year, when he returned to Reddit and GME shares skyrocketed by 21.11%.
- Elon Musk: Charges against Elon for pumping Dogecoin were also recently dropped, even though he has no part in creating the financial system like US congress
- Sen. Richard Burr: He made questionable trades before COVID. Insider trading allegations against him were dropped
Unusual Whales, a Twitter account that tracks Congressional trades, noted earlier this year that the battle against insider trading has worsened since 2020.
"For reference, Congress has direct oversight over the entire market, as well as rule over individual companies who also lobby to them," pointed out Unusual Whales."Congress, despite conflicts, trade these companies and have consistently outperformed the market since 2020. I hear little noise from media on this issue though."
Pelosi has blocked bills that would've hurt Visa's stock price after her husband loaded up on them before the IPO. Her husband also exercised $2 million in Microsoft options before the company landed a huge contract with the US Army to provide high-tech headsets.
Pelosi could not immediately be reached for comment.
