Treasury Secretary Scott Bescent has announced plans to advocate for a ban on “single-share trading” among US Congress members, emphasizing that “Americans deserve better.”
In a recent post on X, Bescent indicated that he would share a video from an interview with Bloomberg TV, discussing how politicians amass wealth in Washington, DC. He stated that this practice “shouldn’t happen” and that politicians ought to focus on serving American citizens instead.
When questioned about the “Stock Prohibition Act” making its rounds in Congress and the timeline for President Donald Trump to endorse the bill, Bescent mentioned that they are still working on it and “do not have the perfect bill” ready yet.
“We’re starting to push for this ban on single-share trading,” Bescent explained. “It’s about maintaining the credibility of the House and Senate, which appears to favor hedge funds. The American people deserve more than this. Officials shouldn’t come to Washington to enrich themselves; they should come to serve the public.”
Recently, Trump criticized former House Speaker Nancy Pelosi (D-CA) and her husband, Paul, for allegations of insider trading, noting he has “broken all hedge funds in 2024.”
In a May interview with Alex Marlow on the Alex Marlow Show, Sen. Josh Hawley (R-MO) discussed the need to prevent elected officials from impacting securities and investments.
Hawley pointed out how Pelosi has accumulated “hundreds of millions of dollars” due to her insider knowledge.
Nancy Pelosi (D-CA), noted for her long tenure as Speaker, has reportedly generated “never millions” of income since entering Congress, despite her salary being under $200,000. Hawley expressed skepticism regarding the legality of her wealth accumulation.
“Legally, that isn’t how it works,” Hawley remarked about Pelosi’s financial success. “And Nancy Pelosi and her husband outperformed all the hedge funds in the country in 2024. So, either she’s a mathematical whiz, or the insider information she has is exceptionally valuable.”
Peter Schweiser, the chairman of the Government Accountability Institute (GAI) and a senior contributor to Breitbart News, noted in 2013 that former Congressman Spencer Batus (R-AL) had opted not to run for reelection. This announcement followed the release of Schweiser’s book, Throw Them All Out, and subsequent reports by Breitbart highlighting evidence of insider trading.
