California Democratic Senator Adam Schiff is once more engaging in political maneuvering, this time insisting on financial disclosures from senior officials in the White House, prompting the Trump team to swiftly highlight the hypocrisy.
Rather than directing his indignation where it is warranted, Schiff addressed a letter to White House counsel David Warrington and Chief of Staff Susie Wiles, expressing his “continued and growing concern regarding… the failure to submit any financial disclosure reports for senior White House officials to the Office of Government Ethics within the statutorily mandated period,” as reported by Fox News.
However, as is often the case, Schiff overlooked the significant issue at hand — the questionable financial history of his California colleague, Nancy Pelosi.
White House spokesman Kush Desai was not receptive to Schiff’s demands, stating to ABC News, “The American people remain highly concerned about Nancy Pelosi’s long, documented history of insider trading and eagerly await Adam Schiff refocusing his political stunt on serious issues, like Pelosi’s portfolio.”
Schiff requested a list of officials obligated to file “new entrant” reports, an explanation for the purported “failure to transmit” these reports, and any penalties for late filings. He also noted that he had participated in an earlier letter in April alongside a group of fellow Democrats, including Representatives Mike Levin and Jerry Nadler.
Nevertheless, the White House promptly countered, with spokeswoman Taylor Rogers asserting that officials are fully compliant with ethics laws, “including the obligation to file periodic transaction reports disclosing the purchase or sale of certain securities.”
Despite this, Schiff continued his grandstanding. “For decades, administrations of both parties, including the first Trump Administration, have fulfilled this obligation, recognizing that public trust in government depends on robust, enforceable transparency standards,” he asserted.
He criticized the Trump administration for its ethical shortcomings, asserting that “senior officials in this administration have consistently failed to reveal their assets and business connections, as well as potentially misused their official roles for personal benefit. Transparency and adherence to ethical regulations are crucial.”
If Schiff genuinely prioritized ethics, he might consider examining his long-time associate more closely.
Pelosi, whose personal fortune is reportedly over $120 million, has been accused of insider trading for several years. When a Fox News Digital reporter inquired about this on Capitol Hill last month, she did not respond. Her spokesperson, Ian Krager, subsequently stated that “she does not possess any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”
This did not deter Republicans from responding. Missouri Senator Josh Hawley proposed the PELOSI Act, the Preventing Elected Leaders from Owning Securities and Investments Act, in 2023. Congressman Mark Alford introduced a corresponding version in the House. Both pieces of legislation were motivated by the ongoing concerns regarding Pelosi’s trading activities.
“Members of Congress ought to advocate for the constituents they were elected to represent—not engage in day trading at the expense of their voters,” Senator Hawley remarked. “Americans have witnessed politician after politician profiting from information not accessible to the general public. It is time to prohibit all members of Congress from trading and holding stocks, thereby restoring the trust of Americans in our legislative system.”
Missouri Republican Representative Mark Alford presented his bill in the House to prohibit congressional stock trading, which he described as “complementary” to the legislation proposed by Missouri Republican Senator Josh Hawley in the Senate.
“As public servants, we ought to maintain a higher standard and steer clear of any semblance of corruption,” stated Rep. Alford in a press release. “Regrettably, an excessive number of Congress members are participating in questionable stock transactions based on confidential information to benefit themselves. These egregious breaches of public trust clearly indicate that we must take decisive action to prohibit members and their spouses from owning or trading individual stocks.”
When questioned in May about her support for a ban on congressional stock trading, Pelosi dismissed the inquiry, stating, “if they do, they do,” and responded with a lackluster “sure” when further pressed on whether she would vote in favor of it.