California Democratic Senator Adam Schiff is once again engaging in political maneuvering, this time insisting on financial disclosures from senior officials in the White House, and it did not take long for the Trump team to highlight the hypocrisy.
Rather than directing his outrage 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… 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” them, 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 swiftly countered again, 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, “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 those they serve,” Senator Hawley remarked. “Americans have witnessed politician after politician profiting from information that is 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 Missouri Republican Senator Josh Hawley’s legislation in the Senate.
“As public servants, we must hold ourselves to a higher standard and avoid even the appearance of corruption,” Representative Alford stated in a press release. “Regrettably, too many members of Congress are participating in questionable stock trades based on non-public information to enrich themselves.
