In a light-hearted exchange on Thursday, Republican strategist Scott Jennings took aim at former House Speaker Nancy Pelosi's stock trading prowess following her announcement that she would not seek reelection.
Jennings humorously suggested that President Donald Trump should consider appointing Pelosi to lead the Social Security Administration (SSA), given her impressive track record in the stock market.
Pelosi, during her tenure in Congress, consistently outperformed the S&P 500 by substantial margins. Jennings, speaking on CNNs The Arena, acknowledged her legislative acumen and political influence, stating, There were people who respected her legislative ability and being a political boss. I mean, she was the boss of her conference. And there is for political operators a lot of respect for that.
He further noted the significant fundraising success Republicans enjoyed by invoking Pelosi's name, saying, I tell you this, I dont know how much we raised over the years off of sending out fundraising appeals based on Nancy Pelosi, but it was a metric butt-ton. Im telling you right now, putting Nancy Pelosi in fundraising mail or fundraising emails would always produce.
According to the Daily Caller, Jennings highlighted Pelosi's dual success in both Washington and Wall Street, remarking, And by the way, its not often that someone can become a titan of both Washington and Wall Street. Republicans will remember her as one of the most successful and prolific day traders.
He pointed out that Pelosi's stock portfolio outpaced the S&P 500 by 559%, underscoring her financial acumen. Jennings quipped, We could all retire in six months if we let this lady manage our portfolios.
At 85, Pelosi has represented her San Francisco district since 1987. Her decision to step down comes as she faced potential primary challenges from younger Democratic contenders. Pelosi's financial success is notable, with an estimated net worth exceeding $278 million, as reported by Quiver Quantitative, while her congressional salary stands at $174,000 annually.
Pelosi's investment activities have not been without controversy. She has faced criticism, particularly from Republican Missouri Sen. Josh Hawley, who introduced the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act in January 2023. This legislation aims to prohibit members of Congress from trading stocks.
Despite accusations of insider trading, Pelosi has denied any wrongdoing and has shown support for the 2023-2024 Ending Trading and Holdings in Congressional Stocks (ETHICS) Act, following her withdrawal of opposition to a stock trading ban prior to the 2022 midterm elections.
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