Politics
JUST IN: Infamous Anti-Trump Rep. Caught In Stunning New Scandal
Stock market watchers have kept a close lookout for members of Congress who straddle the line between insider trading and above-board stock sales. As many know, Nancy Pelosi (D-CA) is not the only Democrat who’s fond of capitalism when it benefits them.
Congresswoman Debbie Wasserman Schultz (D-FL), a former high-flying leader of the Democratic National Committee who is now a disgraced backbencher in the House caucus, submitted new financial statements this week showing that she owns a stake in New Gold, a Canadian mining company that operates two mines in British Columbia and Ontario.
The purchase was made in 2024, according to Quiver Quantitative, a social media hub for Wall Street news.
“BREAKING: We’ve caught another STOCK Act violation,” the account stated on Wednesday.
“Representative Debbie Wasserman Schultz JUST filed a 2024 purchase of New Gold stock, $NGD. She is the only member of Congress who we have ever seen buy this stock. It has risen 313% since her trade.”
The STOCK Act, passed in 2012, requires members of Congress to report any stock sales within 45 days of the transaction.
Failure to follow the law may result in a measly $200 fine, according to the Campaign Legal Center, hardly a deterrent that would stop a lawmaker who has seen a stock price skyrocket since making her purchase.
No member of Congress has ever been prosecuted for insider stock trading under the STOCK Act.
Despite the lack of prosecution, the STOCK Act has highlighted the numerous conflicts of interest that should prevent lawmakers from engaging in business on a range of issues where they have financial stakes, according to ethics watchdogs. A recent survey found that just 5% of congressmen do not own stocks, while a majority of the 2025 freshman came into Congress owning some form of stocks.
An astonishing 86% of Americans support prohibiting members of Congress from trading stocks, yet the practice persists for the vast majority of lawmakers in both parties.
In April, Republican U.S. Sen. Josh Hawley (R-MO) filed the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act, which would ban members of Congress and their spouses from trading stocks while in office.
“Members of Congress should be fighting for the people they were elected to serve—not day trading at the expense of their constituents,” Hawley told Fox News in a statement at the time.
“Americans have seen politician after politician turn a profit using information not available to the general public. It’s time we ban all members of Congress from trading and holding stocks and restore Americans’ trust in our nation’s legislative body,” he added.
The law would not prevent members of Congress from investing in diversified mutual funds, exchange-traded funds, or U.S. Treasury bonds while in office.
Importantly, the PELOSI Act would increase the financial penalty to a maximum of 10% of the value of each illegal transaction.
President Donald Trump himself endorsed the idea of banning stock trading by members of Congress during an interview with Time Magazine earlier this year.
“I watched Nancy Pelosi get rich through insider information, and I would be okay with it. If they send that to me, I would do it,” he said of a trading ban.
“You’ll sign it?” the reporter pressed.
“Absolutely,” Trump responded.