President Trump disclosed more than 1,000 stock trades in July worth between $79 million and $270 million, and the establishment press wants you outraged — but the real scandal is the members of Congress who write the laws affecting your wallet, then trade on the information you'll never see.
The Guardian framed Trump's legally required financial disclosure as a gotcha, breathlessly cataloging his two largest sales — Amazon and Microsoft, $5 million to $25 million each on July 20 — alongside trades in Oracle, Costco, Nvidia, Intuit, and Salesforce. Reuters zeroed in on Trump's purchase and sale of shares in Elon Musk's SpaceX, noting the company is a federal contractor seeking government approvals. Both outlets buried the critical context: the White House says Trump's portfolio is managed by independent third-party institutions using computer-based model portfolios that automatically replicate indexes like the Schwab 1000, and that neither Trump nor his family has "any ability to direct, influence, or provide input regarding how the portfolio is invested or when investments are bought or sold."
What the press won't tell you: Trump made more trades than all of Congress combined between the start of his second term and June, according to a Bloomberg analysis — and he filed every single one as the law demands. Members of Congress face the same 45-day disclosure rule, yet the same media outlets that hyperventilate over Trump's filings maintain a conspicuous silence about Nancy Pelosi's documented track record of uncannily timed trades, or the bipartisan culture of lawmakers who somehow beat the market year after year while writing the regulations that move it.
Trump endorsed the Stop Insider Trading Act, which passed the House in July and would ban lawmakers and their families from purchasing publicly traded stocks. The bill conveniently exempts the president and vice president. That's a loophole worth questioning — but notice who the press never questions: the permanent class on Capitol Hill who vote on defense budgets then buy defense stocks, who shape tech regulation then load up on Big Tech shares.
A recent Economist-YouGov survey found 75% of Americans — including majorities of both parties — believe elected officials should not be allowed to trade individual stocks. The bipartisan consensus among voters is matched only by the bipartisan refusal in Washington to give up the gravy train.
The disclosure forms also revealed that Trump made up to $15.5 million from oil and gas investments as gas prices climbed during the US war with Iran, per a Senate joint economic committee analysis. Three White House officials, including Trump's close aide Natalie Harp, received $45,000 cash gifts that watchdog groups want investigated. These are facts worth reporting. What's not worth reporting is the selective outrage that demands transparency from one branch while giving a pass to the institution where the real self-dealing lives.
Three-quarters of the country wants stock trading banned for elected officials. The House passed a bill that exempts the top of the ticket. The press only covers half the story. Who does that serve?
