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President Biden has declared his support for banning sitting members of Congress from trading stock — an eleventh-hour pivot after four years of silence over the controversy.

Nobody in the Congress should be able to make money in the stock market while theyre in the Congress, Biden told the “More Perfect Union” podcast.

“I don’t know how you look your constituents in the eye and know because of the job they gave you, gave you an inside track to make more money,” Biden said, adding: “I think we should be changing the law.”

The interview was conducted by Faiz Shakir, a political adviser for Sen. Bernie Sanders (I-Vt.), and published by A More Perfect Union, a pro-labor advocacy and journalism organization.

Its unclear what impact Bidens statement could have, coming only a month before his term ends.

Biden had previously declined to take a position on congressional stock trading.

His fellow Democrat, former House Speaker Nancy Pelosi, initially opposed proposals that lawmakers and their spouses be banned from trading stocks.

Pelosi, who is married to venture capitalist Paul Pelosi, insisted that her husband makes stock trades independently and that she has no involvement. She said in December 2021 that there is a free market that members of Congress should be able to participate in.

Speculation about Pelosi’s future in Congress has ramped up in recent days after the 84-year-old congresswoman from San Francisco underwent hip replacement surgery in Europe earlier this week.

Pelosi suffered a fall while on a trip to Luxembourg over the weekend, breaking her hip.

Financial disclosure forms showed that Paul Pelosi, who is said to be worth in excess of $275 million, sold 2,000 shares of Visa stock worth between $500,000 and $1 million on July 1. In September, the Justice Department announced it was suing Visa for alleged antitrust violations.

Since 2021, Pelosi has softened her stance amid backlash, coming out in support of strengthening an existing law, the Stock Act, which requires lawmakers to disclose their stock sales and purchases.

She has also called for extending stock trading disclosure requirements to members of the judiciary, while stiffening penalties for members of Congress who flout the rules.

Relations between Biden and Pelosi, who were once close, are said to have been ruptured after the former speaker played a key role in nudging the president from the race earlier this year due to concerns over his age and mental acuity.

Pelosi told news outlets that she intended for the Democrats to stage a quick primary process following Biden’s decision to step aside, but his swift endorsement of Vice President Kamala Harris frustrated those plans.

Biden’s support for a ban marks somewhat of a pivot for the president, who has been largely noncommittal on the issue.

When Jen Psaki served as White House press secretary two years ago, she said Biden would let members of leadership in Congress and members of Congress determine what the rules should be.

A bipartisan proposal to ban trading by members of Congress and their families has dozens of sponsors, but it has not received a vote.

Although lawmakers are required to disclose stock transactions exceeding $1,000, theyre routinely late in filing notices and sometimes dont file them at all.

Shakir said he admired Biden for having not gone in early on Google, and Boeing, and Microsoft, and Nvidia, and, you know, Amazon while he was a US senator from Delaware, a position he held for 36 years.

Biden said he lived on his Senate salary instead of playing the stock market.

Trading in Congress has long been criticized by government watchdogs, who say the access to nonpublic information creates a temptation for lawmakers to prioritize their own finances over the public good.

Public anger has mounted since the start of the coronavirus pandemic, when some lawmakers were caught buying and selling millions of dollars worth of stock after being warned about the coming disruption from the virus.

With Post wires

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World

Why is Zelenskyy bringing a posse of European leaders to the US for peace talks?

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Why is Zelenskyy bringing a posse of European leaders to the US for peace talks?

A posse of European leaders will join the meeting between Donald Trump and Volodymyr Zelenskyy in Washington.

European Commission President Ursula von der Leyen said she will join the talk “at the request of President Zelenskyy”, adding that she “and other European leaders” will be meeting at the White House on Monday.

Also set to join in are Sir Keir Starmer, German Chancellor Friedrich Merz, France’s Emmanuel Macron, Italy’s Prime Minister Giorgia Meloni, NATO Secretary General Mark Rutte and Finnish President Alexander Stubb.

Mr Stubb’s friendship with Mr Trump is said to have blossomed since the pair bonded over their love of golf during a tournament at Mar-a-Lago in March.

Follow the latest developments on the Ukraine war

Donald Trump and Finland's President Alexander Stubb during a golf tournament at Mar-a-Lago. Pic: Finnish Presidential Office/Reuters
Image:
Donald Trump and Finland’s President Alexander Stubb during a golf tournament at Mar-a-Lago. Pic: Finnish Presidential Office/Reuters


Mr Stubb previously said that Mr Trump is “the only person who can broker a peace” deal, saying the US president was “the only one that Putin is afraid of”.

Bringing a gang of leaders along could be an attempt by Mr Zelenskyy to prevent a repeat of the infamous Oval Office showdown with Mr Trump and the vice-president, JD Vance, in February.

Zelenskyy and Trump during their exchange in the Oval Office. Pic: Reuters
Image:
Zelenskyy and Trump during their exchange in the Oval Office. Pic: Reuters

They were set to discuss a potential ceasefire with Russia and a mineral deal between Ukraine and the US, but their meeting descended into chaos when Mr Vance berated Ukraine’s leader for being insufficiently grateful for US help – in front of the media.

He completed his ambush of Mr Zelenskyy by mocking him for not wearing a suit, with Mr Trump adding that the Ukrainian didn’t “have the cards right now with us”.

The disastrous meeting ended with Mr Zelenskyy prematurely leaving the White House. He later said the bust-up was “not good for both sides”.

Analysis: Zelenskyy knows he risks another ambush

Volodymyr Zelenskyy and Donald Trump argued in the White House. Pic: Reuters
Image:
Volodymyr Zelenskyy and Donald Trump argued in the White House. Pic: Reuters

At the US-Russia summit on Friday, Mr Trump (quite literally) rolled out the red carpet for Mr Putin and even let the Russian leader take a ride with him in the presidential limousine dubbed The Beast.

Mr Zelenskyy is set for a less warm welcome, with no red carpet or fly past, no round of applause, according to Sky News’ US correspondent Martha Kelner.

The atmosphere may be more businesslike with European leaders like Mr Stubb in Mr Zelenskyy’s corner, and their inclusion as mediators could help prevent a repeat of the Oval Office clash.

Mr Putin and Mr Trump greet each other on the red carpet in Alaska. Pic: Gavriil Grigorov/Sputnik/Pool/EPA/Shutterstock
Image:
Mr Putin and Mr Trump greet each other on the red carpet in Alaska. Pic: Gavriil Grigorov/Sputnik/Pool/EPA/Shutterstock

Mr Stubb has repeatedly voiced support for Ukraine, and Finland, along with other Nordic countries and the three Baltic states, has been among the country’s staunchest supporters.

The 2022 invasion prompted Finland, which shares a 1,340-km (833-mile) border with Russia, to join NATO two years ago, upending decades of non-alignment.

Read more from Sky News:
Putin ‘demands key regions of Ukraine’
Body language expert unpacks summit

Two days before the Alaska summit, Mr Zelenskyy, Mr Trump and European leaders, including Mr Stubb, were on a conference call, after which the Finnish leader wrote on X: “Excellent meeting with @Potus and European leaders, including @ZelenskyyUA. Aligned views and unity.

“We are working together for a ceasefire and a sustainable peace. We are there for Ukraine every step of the way. The next few days and weeks can be decisive.”

Whether any other European leaders will accompany Mr Zelenskyy will likely be confirmed late Sunday following a conference call between members of the “coalition of the willing”.

Retired French General Dominique Trinquand, a former head of France’s military mission at the United Nations, said European leaders were “very afraid of the Oval Office scene being repeated and so they want to support Mr Zelenskyy to the hilt”.

“It’s a power struggle and a position of strength that might work with Trump,” he added.

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Sir Keir Starmer will be accompanying Ukrainian president Volodymyr Zelenskyy to Washington

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Sir Keir Starmer will be accompanying Ukrainian president Volodymyr Zelenskyy to Washington

Sir Keir Starmer will be accompanying Ukrainian president Volodymyr Zelenskyy to Washington tomorrow for his crunch meeting with Donald Trump.

He will join European leaders including France’s president Emmanuel Macron, Italy’s PM Giorgia Meloni and Germany’s Chancellor Friedrich Merz.

Also set to attend the talk at the White House are NATO Secretary General Mark Rutte and Ursula von der Leyen, the president of the European Commission.

This comes after the US president reportedly extended an invitation to them.

European leaders who make up the “coalition of the willing” are set to hold a conference call today ahead of the crunch talks between Mr Trump and Mr Zelenskyy, which some coalition members are set to attend.

This breaking news story is being updated and more details will be published shortly.

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Science

SpaceX Launches 24 More Starlink Satellites, Expands Global Internet Network

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SpaceX successfully launched 24 new Starlink satellites on Aug. 14, lifting off at 1:05 a.m. EDT from Vandenberg Space Force Base in California aboard a Falcon 9 rocket. The first-stage booster, B1093, completed its fifth flight and landed smoothly on the drone ship Of Course I Still Love You in the Pacific Ocean. This mission marked SpaceX’s 98th Falcon 9 flight of…

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