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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDonald Trumps Pick for Health Secretary Traded Medical Stocks While in House
Donald Trumps Pick for Health Secretary Traded Medical Stocks While in House
By JAMES V. GRIMALDI and MICHELLE HACKMAN
Dec. 22, 2016 6:57 p.m. ET
Rep. Tom Price has sponsored and advocated legislation that could affect the companies share prices
President-elect Donald Trumps pick to run the Health and Human Services Department traded more than $300,000 in shares of health-related companies over the past four years while sponsoring and advocating legislation that potentially could affect those companies stocks.
Rep. Tom Price, a Georgia Republican, bought and sold stock in about 40 health-care, pharmaceutical and biomedical companies since 2012, including a dozen in the current congressional session, according to a Wall Street Journal review of hundreds of pages of stock trades he filed with Congress.
In the same two-year period, he has sponsored nine and co-sponsored 35 health-related bills in the House.
His stock trades included Amgen Inc., Bristol Myers Squibb Co., Eli Lilly & Co., Pfizer Inc. and Aetna Inc.
His largest single stock buy was an August 2016 purchase of between $50,000 and $100,000 of an Australian biomedical firm, Innate Immunotherapeutics Inc., whose largest shareholder is a GOP congressman on the Trump transition team, according to the filings, which list price ranges. . The stock has since doubled in price...
Read more:
http://www.wsj.com/articles/donald-trumps-pick-for-health-secretary-traded-medical-stocks-while-in-house-1482451061
Dustlawyer
(10,494 posts)that Congress gets to legally insider trade on stocks? They immediately outlawed their right to do so and then quietly reinstituted legal insider trading 6 months later. This is another way big companies and Wall Street banks purchase our politicians.
If it wasn't so tragic it would be funny that we complain about our politicians being corrupt, yet allow them to accept legal bribes in the form of insider stock tips, campaign contributions, Super PACs, Dark Money, revolving door, lobbyists gifts/trips...
We complain of the symptoms of this corruption, hyper-partisianship, lack of prosecution of white collar crime, growing wealth inequality, no bid contracts, voter purges and election fraud, ... but do not demand campaign finance reform!
Until we attack the root problem causing most of our other problems we will not make any progress and our country will continue its downward spiral! The American people (Us) need to demand Publicly Funded Elections! We need to force the politicians to take away the perks that allow them to be unduly influenced.
With the incoming Trump administration our downward spiral is going to be a straight drop into a bottomless pit.