Posted on 01/16/2017 1:59:30 PM PST by Alter Kaker
Washington (CNN)Rep. Tom Price last year purchased shares in a medical device manufacturer days before introducing legislation that would have directly benefited the company, raising new ethics concerns for President-elect Donald Trump's nominee for Health and Human Services secretary.
Price bought between $1,001 to $15,000 worth of shares last March in Zimmer Biomet, according to House records reviewed by CNN.
Less than a week after the transaction, the Georgia Republican congressman introduced the HIP Act, legislation that would have delayed until 2018 a Center for Medicare and Medicaid Services regulation that industry analysts warned would significantly hurt Zimmer Biomet financially once fully implemented.
(Excerpt) Read more at cnn.com ...
Let’s take a hard look at Harry Reid, Nancy Pelosi, and Diane Feinstein’s financial dealings vis-a-vis legislation they’ve supported and/or initiated.
Yeah.
I wonder if he told Trump.
“I wonder if he told Trump.”
He probably has no idea... I have the best part of a million invested in stocks and bonds and I can’t tell you what companies or even in what countries it’s invested in. I just don’t have the time to follow it (and I’m retired).
It doesn’t sound good, but compare that to Mrs. Bill Clinton investing $1000 in cattle futures and making a quick $100,000 profit back in the 1990s. Of course, she’s an expert on cattle.
For a member of CONgress, it’s perfectly legal. How do you think all the scumbags get rich on their salary?
Looks like it would hurt the company, but what do I know about insider trading which congress critters are apparently able to legally do.
Looks like the company is going to be regulated out of business in a year or so.
“I can’t believe people are ready to dump a good man over this crap from CNN.”
Not a lot of courage in this thread, sad!
Fox News reported the stock was purchased by a broker and Price had nothing to do with the purchase. They also reported he introduced the bill along with Democrats.
MANU RUJU??? Seriously?? That;s a NAME?? geesh.
Not a big bet if its insider trading. A couple grand?
CNN can go piss up a rope !
...
That seems like an insignificant investment in the grand scheme of things. And I doubt a one year delay in a regulation would affect the stock price much.
I can’t believe people are ready to dump a good man over this crap from CNN.
Evidently quite a few on this thread are all ready to crucify him.
Yep, I heard the same thing. He didn’t make the buy, his broker did. Many get the notice of what was purchased well after the fact...the broker makes an independent selection based on the clients level of stock market anxiety.
And...you are...who?
It is rather difficult for a legislator to invest in private companies these days, as there will certainly be a conflict of interest at some point. Or rather, it’s a constant problem as the government’s regulatory reach is so broad. It’s nose is in everything.
Worse in some areas, like medical anything.
Peanuts stuff!
I was watching Fox News tonight and they say he didn’t initiate the stock trade. They stated his finacial advisor who manages his financial account did the trades without any input from the nominee. Happens when you have investments in a managed account or fund.
Doesn’t matter. Shows someone without ethics and integrity. Trump needs to dump him immediately, then hold a press conference and say ‘THIS is what I was running against!’.
this kind of crap happens all the time in Congress. They have a special exemption. I think it is wrong to allow Congress this exemption, but if they want to go after Tom Price they need to go after EVERYONE that has done it.
.
Does everybody here realize that a Congress person can buy stock in a company right before voting on a matter that could reasonably be expected to positively impact that stock?
Let’s have an open and honest discussion on the ethics rules that apply to Congress and congressional staffers. If you or I got caught trading on inside information we would face fines and jail time.
That’s been SOP for years, if not decades, and it needs to stop.
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