Scott Bessent Slams ‘Eye-Popping’ Congressional Trades, Backs Stock Ban Plan [WATCH]

Treasury Secretary Scott Bessent is calling for a ban on individual stock trading by members of Congress, citing the “eye-popping” returns some lawmakers have reported and warning that such activity erodes public trust in government, as reported by The Western Journal.

Speaking to Bloomberg on Wednesday, Bessent said Americans are right to be skeptical when elected officials report profits that would rival the best-performing hedge funds.

“I am going to start pushing for a single stock trading ban, because it is the credibility of the House and the Senate that you look at some of these eye-popping returns,” Bessent said.

Trump’s Sovereign Wealth Fund: What Could It Mean For Your Money?

He pointed specifically to the financial gains reported by California Democratic Rep. Nancy Pelosi and Oregon Democratic Sen. Ron Wyden, remarking, “Every hedge fund would be jealous of them.”

Bessent, a former hedge fund manager himself, said that lawmakers should not be using their positions for personal enrichment.

“And you know, the American people deserve better than this. People shouldn’t come to Washington to get rich,” he continued.

“They should come to serve the American people, and it brings down trust in the system because, I can tell you, that if any private citizen traded this way, the SEC would be knocking on their door.”

This Could Be the Most Important Video Gun Owners Watch All Year

While multiple bills have been introduced in Congress to address the issue of lawmakers trading stocks, Bessent said he has yet to see a proposal that he considers the “perfect bill.” He emphasized that excessive trading by lawmakers undermines the integrity of Congress.

“The House and the Senate, they’re supposed to be working for the American people, their constituents.”

“They’re supposed to be making law. And they shouldn’t be trading every day. I’m not going to name names, but there was one person in Congress who had 1,200 or 1,300 trades two years ago. And you know, my hedge fund didn’t have that many trades.”

I am pushing for a ban on single-stock trading in Congress. The American people deserve better than politicians like @RonWyden and @SpeakerPelosi with hedge-fund level returns. Public service should be about serving the people, not getting rich. pic.twitter.com/yaXFGRfiMz

— Treasury Secretary Scott Bessent (@SecScottBessent) August 13, 2025

President Donald Trump has also voiced support for a ban on individual stock trades by members of Congress. In an interview with Time Magazine in April, Trump said:

“Well, I watched Nancy Pelosi get rich through insider information, and I would be OK with it. If they send that to me, I would do it.”

He confirmed that he would “absolutely” sign such a measure into law.

Bessent said the effort is about restoring credibility to the legislative branch and ensuring lawmakers focus on their legislative responsibilities instead of personal financial gains.

The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of LifeZette. Contact us for guidelines on submitting your own commentary.