Instead of draining the swamp as he promised, Donald Trump is merely stocking it with corrupt Republican creatures.
If you need a perfect example, look no further than Trump’s nominee to be Secretary of Health and Human Services (HHS), Georgia Congressman Tom Price. Over the past four years, Price traded more than $300,000 worth of stock shares in health-related companies. At the very same time, Price was sponsoring and supporting legislation which affected the stocks price of those companies.
Among the companies Price bought and sold shares of: Biotech company Gilead Sciences and pharmaceutical giants Pfizer and Eli Lilly.
Richard W. Painter, who was an ethics lawyer for President George W. Bush, said members Congress are allowed to buy and sell shares, even if the committees on which they serve directly influence federal policies affecting companies whose stock they own. Still, they should avoid actively investing in industries they oversee. Price is a member of the Ways and Means subcommittee on health, which oversees Medicare, and Painter added that could cause big problems for Price when he faces Senators for confirmation:
“Good judgment would be to stay out of health care stocks if you are on a health-care related committee. Stay out of energy stocks if you are on an energy committee. Stay out of defense stocks if you are on Armed Services.”
Price may also be in direct violation of the Stop Trading on Congressional Knowledge (STOCK) Act, which was enacted in 2012 to prevent members of Congress from profiting off knowledge they have when they invest in companies, i.e insider trading. The STOCK Act specifically states:
“A member, officer, or employee of the (Congress) shall not receive any compensation, nor shall he permit any compensation to accrue to his beneficial interest from any source, the receipt or accrual of which would occur by virtue of influence improperly exerted from his position as a member, officer, or employee.”
Michael Carome, director of nonprofit Public Citizen’s Health, said Price’s stock trades raise major questions about his motivations, and he added:
“It undermines the public trust.”
Price has also been the recipient of a great deal of largesse from the health care industry: He received campaign contributions of more than $158,000 from makers of drugs and other health products in the current campaign cycle, according to the nonpartisan Center for Responsive Politics.
Featured Image Via Gage Skidmore for Flickr available under a Creative Commons Attribution-ShareAlike 2.0 Generic License
