Sen. Tommy Tuberville (R-Ala.) believes President Biden’s recent call to ban congressional stock trading is a “dig” at former Speaker Nancy Pelosi (D-Calif.), whose husband’s investments have drawn scrutiny.
“I don’t think Biden and Pelosi are getting along after she pushed him to drop out of the race,” Tuberville told Alabama Daily News. Pelosi and her husband have reportedly earned stock market returns exceeding 720% over the past decade, with an estimated net worth of over $230 million. She has previously opposed a full ban on congressional trading, arguing, “We are a free market economy.”
Tuberville suggested Biden made his statement while Pelosi was recovering from surgery in Germany. Though Tuberville has had stock market success, he insists he doesn’t manage his own portfolio.
Biden reiterated his stance in an upcoming interview, saying, “Nobody in Congress should be able to make money in the stock market while serving.” Democratic strategist Lindy Li told Fox News that Biden, still upset over Pelosi’s role in his withdrawal, may be targeting her with this move.
