News/Commentary

SecWar Pete Hegseth fires back at Pocahontas over insider trading allegations

May 1, 2026 | | Print Article

Secretary of War Pete Hegseth was grilled by grandstanding Democrats during a Thursday Senate appearance, with the party of bad faith trying to outdo each other for the best sound bites.

The top Trump administration official testified before the Senate Armed Services Committee, where he was asked about the Iran war, cuts to Pentagon staff and the Defense Department budget. It was his second day of being peppered by politicians after he answered questions in a House hearing on Wednesday.

In one notable exchange with a Senate Democrat looking to score political points, the always shrill Sen. Elizabeth Warren (D-MA) tried to box him in over allegations that he may be one of those who engaged in war profiteering with a series of oil trades that were perfectly timed to take advantage of President Donald J. Trump’s updates on the war with the Islamic Republic that some have suggested indicate insider trading.

“On March 23rd, just 14 minutes before Trump unexpectedly posted about ‘very good conversations’ on ending the war, traders suddenly bet $500 million on the price of oil, which, once Trump made his announcement, immediately dropped. It happened again on April 7th. Then again, on April 21st. A surge in oil bets, then a Trump post, and then a huge shift in oil prices in just the space of minutes. It looks like insiders have been making out like bandits by using secret information about the war,” Warren said, insinuating that unknown speculators had advance knowledge of the president’s statements.

Hegseth answered that everything that he and his office have done has “been completely above board,” but it wasn’t enough to satisfy “Pocahontas,” who persisted with several more insider trading-related questions, including a report by the Financial Times that he personally tried to make money from the war.

“I’m also concerned about recent reporting on your own financial dealings with regard to profiting from the war in Iran,” Warren said. “The Financial Times reported that your broker tried to buy hundreds of shares in a BlackRock fund invested in defense companies just before the war began. The law clearly prohibits the Secretary—”

ADVERTISEMENT

That prompted a fiery response from the combative Hegseth, who defended his integrity and the honor of those working for him.

That entire story is false. It has been from the beginning and was made up out of whole cloth. And anybody that looks at it sees how it was worded from the beginning, to make it look like I was involved in something I had nothing to do and never have,” he said.

“So any insinuation that I’ve ever profited other than serving this nation. What I give, what you give, what others give. I’m not looking for money. I don’t do it for money,” Hegseth continued. “I don’t do it for profit. I don’t do it for stocks, and that’s part of the reason why I’m able to be effective in this job, because no one owns me, no one owns this department, no one owns this president, and we can execute for the American people, and we do.”

Hegseth more than held his own against Warren and her fellow Democrats, who are less interested in legitimate congressional oversight than they are in chasing social media clout.

Chris Donaldson
Latest posts by Chris Donaldson (see all)

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

Latest Articles