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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRep. Dan Crenshaw Decided Pandemic Was Perfect Time to Buy and Not Disclose Stocks
Daily Beast
Members of Congress should not be actively trading securities in the middle of a crisis, said Ben Edwards, a securities law expert at the University of Las Vegas, Nevada.
Roger Sollenberger
Political Reporter
Updated Mar. 08, 2021 10:02PM ET Published Mar. 08, 2021 8:48PM ET
Rep. Dan Crenshaw (R-TX) did not buy or sell any stocks in his first 13 months as a congressman. That changed in March 2020, when he made half a dozen buys as the largest economic relief package in history was written and debated.
Five of those purchases came in the three days between March 25 and 27, as the Senate and House voted on the CARES Act and former President Trump signed it into law. Crenshaw, who supported the bill, did not initially disclose the transactions, in violation of the STOCK Act, a law that requires members of Congress to tell the public when they engage in securities trades. Months later he amended his records to reflect the purchases.
The trades, which are listed only in a range of values, add up to a maximum of $120,000, and do not compare in size or volume to the kinds of headline-grabbing transactions executed ahead of the pandemic by Sens. Kelly Loeffler and David Perdue. They only appeared in December, when Crenshaw amended his annual report, originally submitted in August.
Youre referencing financial disclosures that use a range to report stock purchases, and youre choosing the upper end of the range to come up with that $120,000 figure, Justin Discigil, Crenshaws communications director, told the Daily Beast in an email. The real number is around $30,000 at most, Discigil said, and in no way were his purchases unethical or related to official business.
snip
Members of Congress should not be actively trading securities in the middle of a crisis, said Ben Edwards, a securities law expert at the University of Las Vegas, Nevada.
Roger Sollenberger
Political Reporter
Updated Mar. 08, 2021 10:02PM ET Published Mar. 08, 2021 8:48PM ET
Rep. Dan Crenshaw (R-TX) did not buy or sell any stocks in his first 13 months as a congressman. That changed in March 2020, when he made half a dozen buys as the largest economic relief package in history was written and debated.
Five of those purchases came in the three days between March 25 and 27, as the Senate and House voted on the CARES Act and former President Trump signed it into law. Crenshaw, who supported the bill, did not initially disclose the transactions, in violation of the STOCK Act, a law that requires members of Congress to tell the public when they engage in securities trades. Months later he amended his records to reflect the purchases.
The trades, which are listed only in a range of values, add up to a maximum of $120,000, and do not compare in size or volume to the kinds of headline-grabbing transactions executed ahead of the pandemic by Sens. Kelly Loeffler and David Perdue. They only appeared in December, when Crenshaw amended his annual report, originally submitted in August.
Youre referencing financial disclosures that use a range to report stock purchases, and youre choosing the upper end of the range to come up with that $120,000 figure, Justin Discigil, Crenshaws communications director, told the Daily Beast in an email. The real number is around $30,000 at most, Discigil said, and in no way were his purchases unethical or related to official business.
snip
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Rep. Dan Crenshaw Decided Pandemic Was Perfect Time to Buy and Not Disclose Stocks (Original Post)
JoeOtterbein
Mar 2021
OP
Leveraging a disability. Why not? It's a scam inflection point into American politics..
OAITW r.2.0
Mar 2021
#1
OAITW r.2.0
(24,454 posts)1. Leveraging a disability. Why not? It's a scam inflection point into American politics..
Now, Republicans vote for stupid people who almost killed themselves, but survived to visit Hitler's domain.
BigmanPigman
(51,584 posts)2. Another GQP scumbag.
LetMyPeopleVote
(145,129 posts)3. My son lives in this asshole's district
This district is heavily gerrymandered