House Speaker Nancy Pelosi has found herself in hot water after disclosing millions of dollars in major stock trades just months after supporting regulation on lawmakers' trading activity, RadarOnline.com has learned.
In a surprising development that comes just five months after the 82-year-old Speaker of the House expressed support for regulating trade activity made by United States lawmakers, Pelosi revealed on Friday a number of option purchases totaling millions of dollars.
That is the bombshell revelation made by a newly published Daily Mail report showing Pelosi purchased between $750,000 and $1.5 million buy option shares of Apple Inc., in addition to hundreds of thousands of buy option shares in Microsoft Corp.
Additionally, her husband Paul Pelosi reportedly bought Apple call options totaling anywhere between $750,000 and $1.5 million in May – creating a grand total of potentially $3 million in stock options between the Pelosi couple combined.
Although there is already a law in place ordering U.S. lawmakers like Pelosi to disclose the stock transactions of themselves or their family members within 45 days, there has been a renewed push to ban stock trading completely within members of Congress – something Pelosi herself expressed support for in January.
"I just don't buy into it, but if members want to do that, I'm OK with that," Pelosi told reporters at a press conference at the time. "I have great confidence in the integrity of my members.”
Despite the laws in place forcing lawmakers to disclose their stock market transactions, many are still worried that lawmakers could abuse and exploit the information they gain via their work in Congress for their own personal gain and advantage.
As RadarOnline.com reported, the bombshell revelation that Pelosi bought millions of dollars’ worth of Apple and Microsoft stock last month also comes just days after her husband Paul was arrested for suspicion of DUI after causing a car accident in Napa Valley, California.
“The driver of the Porsche (Party Number 1, Pelosi) was traveling eastbound on Walnut Lane and attempted to cross SR-29, when his Porsche was struck by a party traveling northbound on SR-29…driving a Jeep,” the California Highway Patrol revealed in a statement last week.
“Pelosi was arrested for driving under the influence of an alcoholic beverage at 11:44 pm,” they added.
Nancy Pelosi was on the other side of the country at the time of her husband's incident, but her office refused to comment on the matter at the time.
"The Speaker will not be commenting on this private matter which occurred while she was on the East Coast,” her office said in an official statement.