House Speaker Nancy Pelosi and her hubby Paul bought millions in call options in Google, Disney, Salesforce, Roblox and Micron just days after the Democrat lawmaker insisted members of Congress should be allowed to trade stocks.
A new Business Insider report revealed 49 members of Congress failed to correctly report their stock trades which is required under the STOCK Act.
Lawmakers from both sides of the aisle failed to disclose stock trades.
A couple weeks ago, citing Business Insider, a reporter asked House Speaker Nancy Pelosi if members of Congress should be banned from trading stocks.
“Should members of congress and their spouses be banned from trading individual stocks while serving in Congress?” a reporter asked Pelosi.
Pelosi defended the herself and other lawmakers.
“No…We are a free market economy. We are a free-market economy and they should be able to participate in that,” Pelosi said.
A few days later, Pelosi extended her stock-buying spree.
The New York Post reported:
Congress is in recess for the holidays — but Nancy Pelosi has kept busy playing the market.
The Democratic majority leader and her husband, Paul Pelosi, recently bought millions of dollars worth of call options for stocks including Google, Salesforce, Roblox and Disney, financial disclosures published Thursday show.
The purchases occurred from Dec. 17 to Dec. 21 — just days after Pelosi insisted in a press conference that members of Congress should be allowed to trade individual stocks despite often being privy to insider information that can move markets.
The Pelosi family’s trades this month include Google and Salesforce call options worth between $500,000 and $1 million each, as well as Roblox call options valued at between $100,000 and $250,000. The duo also bought up between $250,000 and $500,000 in calls for chipmaker Micron Technology and between $100,000 and $250,000 of Disney call options.
Paul Pelosi runs Financial Leasing Services, a real estate and venture capital investment and consulting firm. In recent years he’s made big-money bets on companies his wife is supposed to regulate, including Amazon, Apple and Google.