Biden Bans Congressional Trading, Pelosi’s and Other Senators Portfolio Panics

In yet another semi-power move from President Biden as he heads out of the White House before Christman, Biden and his administration have set their sights on publicly endorsing a ban on stock trading by members of Congress.

"Nobody in the Congress should be able to make money in the stock market while they're in the Congress," President Biden stated.

The issue of congressional stock trading, one we've written about at length for years now, has been on the minds and fingertips of the public across social media for months. Everyone is wondering how and why Nancy Pelosi's stock portfolio can hit an all-time high after an all-time high while the rest of these retail traders seemingly trade in the dark. Trump as well, who suggested that Pelosi had prior knowledge of the impending DOJ lawsuit against Visa and informed her husband, enabling him to sell the stock before its value dropped. "Nancy Pelosi sold vast amounts of Visa stock one day before the big lawsuit we read about a few days ago. She should be prosecuted for that."

He's not wrong here, as there are apparent concerns about potential conflicts of interest when lawmakers engage in stock transactions while holding legislative power, especially when they sit directly on boards and committees where they know certain insider information before the market does. That said, given Trump's record, it's also a bit calling the kettle black.

Putting those two things aside...a University of Maryland School of Public Policy survey found that 86% of Americans favor such a ban, a rare consensus in an always polarized political environment. Biden here attempts to return to some semblance of ethical standards and maybe restore public trust in government institutions. However, with his recent flurry of pardons—one being his son Hunter Biden—there are apparent nay-sayers in the sea of critics who see this endorsement as another stunt to save face before President-elect Trump enters the White House on January 20, 2025.