Jordan Belfort, a former Wall Street executive whose wild life was dramatized in Martin Scorsese’s The Wolf Of Wall Street, described how politicians like Nancy Pelosi and Joe Biden are able to make millions from trading stocks with insider information.
“It appears that members of Congress consistently beat the S&P 500 in their personal investment,” Carlson said, to which Belfort immediately responded by naming Nancy Pelosi.
“So how does that… is Nancy Pelosi, do you think, a stock picking genius?” Carlson followed up. “No, she has to be operating on information that’s non-public,” Belfort replied.
Stock trading from members of Congress has been a topic that generates intense controversy in recent years, with lawmakers on both sides of the aisle arguing in favor of bans on congressional stock trading. Pelosi in particular has faced criticism over the issue, as her net worth has ballooned to roughly nine figures since the 2008 financial collapse.
Much of the Pelosi family’s gains have been attributed to stock trades made by her husband, Paul.
Elsewhere in the interview, the two discussed the ongoing impeachment probe into President Biden’s involvement with his son’s business dealings. Belfort — who spent time in prison in connection with an insider trading scandal — went on to claim that President Biden is “great” at laundering money.
“I mean, honestly, from what I’ve seen right now, I don’t get it. Just imagine if it was Trump who was president. Every single day in the front page of the New York Times, the Washington Post, and every other publication would be like, $40,000 check for a $20,000 check from his brother. Like, it’d be game over. Cries for impeachment,” Belfort said.
“It’d be like the world falling down. He’s in China’s pocket. But it’s like we’re living in an alternative universe right now where people in power, especially on the left, right, can operate almost with impunity. And Pelosi is a perfect example,” he continued. “She’s not the only one, but it’s inconceivable that someone could have that high a return in the market that someone could have that high a return in the market when everyone else can’t do it.”