← The 47 Morning Update with Ben Ferguson
The 47 Morning Update with Ben Ferguson
Pelosi Under Fire as Trump Slams ‘Disgraceful’ Stock Gains
00:11:02
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Donald Trump
Thrilled to sign the VA Home Loan Program Reform act into law. This legislation provides desperately needed relief to veterans and their families who have fallen behind on their mortgages. It helps keep our promise to end veterans homelessness. And we're going to do that for America. We're going to do that for our great veterans.
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Ben Ferguson
You're listening to the 47 Morning Update with Ben Ferguson.
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Good Thursday morning. It's so nice to have have you with us on the 47 Morning Update. And we've got one big story for you. Donald Trump at the White House today calling out Nancy Pelosi for becoming rich by having inside trading information. The president saying, quote, she made a fortune with her husband and I think it's disgraceful. Well, Nancy Pelosi also firing back and becoming very irritated in a CNN interview.
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I've got it all for you, but.
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First, I want to talk to you.
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It's the 47 Morning Update and it starts right now.
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Story number one, President Donald Trump coming.
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Out swinging, calling for a Pelosi investigation over insider trading and describing what she has done as nothing less than disgraceful. President Donald Trump calling for an investigation based on the facts.
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Why?
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Well, he was asked about a bill to ban stock trading among members of Congress. I want you to put this into perspective. What has been reported on so you understand the outrage here. Nancy Pelosi's current government salary is $174,000 a year. Now, that's standard pay for rank and file members of Congress. There's other roles that may get her more money when she was the speaker, for example, or a party leadership. But if you look at her net worth, here is what we know. Open Secrets, for example, estimates Nancy Pelosi's net worth back in 2018 to be 114.7 million. Now, as of mid 2024, Investotopia estimated the couple's net worth at over 240 million, with substantial holdings in tech stocks and real estate, 45 million alone in property, all of this off of 174,000 and change a year. Now, more recently, there have been new estimates. As of June 1, for example, there was a new estimate that their net worth was well over 260 million, including about 127 million in publicly tracked equities. And then you look at 2024. Financial disclosures show that Paul Pelosi, that's the husband of Nancy Pelosi, earned, and this is a big range between 7.8 million and 42.5 million in 2024 alone, from stock trades boosting their estimated net worth to as much as 413 million, a figure that's been cited by many outlets, including the Times. Here's the other thing that you should know before I let you hear from the president. Nancy Pelosi and her husband's Portfolio reportedly delivered a 54 return in 2024, substantially outperforming major hedge funds and the 25 historic gain in the S P 500. Notable trades included early investments in stocks exploded like Nvidia and Palo Alto Networks, as well as timely sales of Microsoft and Visa shares ahead of regulatory scrutiny and, and the stocks came down significantly. Now, critics argue that Pelosi's consistent trading success may reflect access to non public information. This is why she's making so much money, is what many believe. Now, Donald Trump was asked about this at the White House as they were talking about stopping trading of stocks by members of Congress. And I want you to listen carefully to what the President had to say.
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Donald Trump
Nancy Pelosi became rich by having inside information. She made a fortune with her husband and I think that's disgraceful. So in that sense, I'd like it, but I'd have to really see the, I'd have, you know, I studied these things very carefully and this just happened. So I'll take a look at it. But conceptually I like it. And what I do think is Nancy Pelosi should be investigated because what she has the highest return of anybody practically in the history of Wall street, save a few. And how did that happen? It happened by, she knows exactly what's going to happen, what's going to be announced. She buys stock and then the stock goes up after the announcements made and she ought to be investigated.
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Ben Ferguson
Now you can hear the President there making it clear what he believes should happen. Nancy Pelosi went on cnn, a place that's, you know, extremely friendly with Jake Tapper, someone that's helped her out with many fake stories in the past. And what did Nancy Pelosi say? Well, Jake Tapper apparently is acting like he's a tough journalist and decided to ask Pelosi a question about insider trading. Now, of course he's saying President Trump said it, not me. You know, we're not doing any investigative work here.
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No, no, no, we're just going to.
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Ask you about what Trump said. And Nancy Pelosi went into a. Hey, I'm here to talk about something else.
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I don't want to talk about this.
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I'm here to talk about the 60th anniversary of Medicaid.
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Jake Tapper
You.
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Ben Ferguson
That's why I agree to come on here. And then she started to ramble even more. Listen carefully.
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Jake Tapper
President Trump mentioned you and he made an allegation about your investments. I want to roll that clip and then give you a chance to respond. Let me just read what he said. I'm sorry that we had some sort of technical issue. Nancy Pelosi became rich.
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Nancy Pelosi
Why do you have to read that? We're here to talk about the 60th anniversary of Medicaid. That's what I agreed to come to talk. Yeah, but I want, that means in the election.
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Jake Tapper
I wanted to give you a chance just to respond. He accused you of insider trading. What's your response to that?
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Nancy Pelosi
That's ridiculous. In fact, I very much support the stop the trading of members of Congress. Not that I think anybody's doing anything wrong. If they are, they are prosecuted and they go to jail. But because of the confidence it instills in the American people. Don't worry about this. But I have no concern about the obvious. Investments had been made over time. I'm not into it. My husband is. But it isn't anything to do with anything insider. But the president has his own exposure. So he's always projecting. He's always projecting. And let's not give him any more time on that, please. We're going forward here and I'm very proud of my family. And while he might make fun of us while somebody inspired by him breaks into our home and hits my, in a deadly fashion, hits my husband over the head and he thinks that's a riot. I'd rather not go into some of my other complaints about him right now, rather to talk about the 60th anniversary of Medicaid and Medicare. What a triumph. A great pillar of economic and health security for the American people. We had over the weekend a carrying across generations initiative of a 60 hour, a 60 hour vigil of all of us taking turns, myself, my daughter, my granddaughter and all the rest taking turns over 60 hours to tell stories of how all of this, what all this means in people's lives. We since just since all this has emerged, have had 300,000 calls from our Californians to people in Republican health districts for them, to the constituents to call their Republican members of Congress who have voted for this shameful, shameful, dirty, filthy, stinking, lousy, rotten, anything but beautiful act. And now we are engaged in the Save Medicaid summer. So Today is the 60th anniversary. It's something to be very, very proud of. And instead of what the Republicans are doing to deprive people of access to health care who need it so badly, people with disabilities who need it for the children, let me ask you it so badly.
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Ben Ferguson
There are two things we just have to go back to in this audio. Number one, Pelosi trying to dodge the question of insider trading, then saying, I'm not into it. My husband is. Yes, she said that. Here's the receipt.
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Nancy Pelosi
I'm not into it. My husband is.
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Ben Ferguson
One thing is for sure, Nancy Pelosi, she's nervous and she's pointing her finger to her husband saying, I don't do anything. I don't know anything. I'm not into anything insider. And oh, by the way, let me point at Donald Trump. You know, he's got his own exposure. So he's always projecting. He's always projecting. Yes. That is Nancy Pelosi's response to being worth hundreds of millions of dollars on $174,000 salary. So if you want to know why.
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Donald Trump said she should be investigated.
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Well, maybe just listen to Nancy Pelosi's own words.
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Thank you for listening to the 47 Morning Update with Ben Ferguson. Please make sure you hit subscribe wherever you're listening to this podcast right now. And for more in depth news, also subscribe to the Ben Ferguson Podcast, and we will see you back here tomorrow.
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