September 20, 2021

House Dem busted for refusing to disclose financial dealings

Despite touting himself as an unwavering enemy of corruption in politics as a sponsor of multiple bills related to money in politics and funding transparency, one Democrat congressman has just found himself on the wrong end of an alarming financial controversy.

As Breitbart reports, Rep. Tom Malinowski (D-NJ) has been busted for failing to make required public disclosures of a series of lucrative securities transactions conducted in 2020, omissions that may represent a violation of federal law.

The congressman engaged in a number of trades in March of last year, just as the seriousness of the COVID-19 pandemic emerged. Among the purchases made by Malinowski were investments in the J.M. Smucker Company, General Mills, and home exercise firm Peloton, according to Business Insider, which first broke the story, and which estimates that the lawmaker’s total undisclosed trading during the period at issue may have reached $2.76 million.

In response to the problematic revelations that the legislator did not make necessary disclosures within the 30- to 45-day window required by the STOCK Act, Malinowski’s chief of staff, Colston Reid, stated that “filing these disclosures late was an oversight that [the congressman] is taking steps to correct.”

Malinowski spokesperson Amanda Osbourne claimed, “this was not an effort on the part of the congressman to conceal any trade activities,” and that “he has a financial advisor that makes trading decisions on his behalf without his regular input.”

Reactions from ethics experts to Malinowski’s disclosure failures were swift and damning, with lawyer and professor Richard Painter declaring, “it’s time to ban all Members of Congress from trading stocks in individual companies affected by their official duties.”

Walter Shaub, senior ethics fellow at the Project on Government Oversight and former director of the U.S. Office of Government Ethics was similarly succinct in his take, tweeting simply, “Ban members of Congress from trading stocks.”

As Breitbart noted, Malinowski is far from the only legislator with recent involvement in stock transactions that have raised eyebrows. Sen. Dianne Feinstein (D-CA) was discovered not to have disclosed trades made in the run-up to pandemic-related market turbulence, and Rep. Susan Davis sold cruise industry and airline securities ahead of COVID widespread lockdowns.

Author Peter Schweizer, who has written extensively on government corruption on both sides of the aisle, perhaps said it best when he opined earlier this year, “Sadly, the recent activities of Congress show that, even in times of the most unimaginable crisis, our nation’s health still takes a backseat to Washington’s wealth.”

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Kathy (@guest_1167113)
6 months ago

And they want Trumps financials. They, the demorates, need to have all of their financials available for review. We will then find out how they sold America out to enrich themselves!

PAT (@guest_1167122)
Reply to  Kathy
6 months ago

You bet these Demorates, are millionaries, not on their salaries alone, but on all the DARK CASH, THAT HAS BEEN PLACED IN THEIR HIDDEN POCKETS.

tom matt (@guest_1167289)
Reply to  PAT
6 months ago

Pat : ALL of Congress is guilty, so please include the GOP in your discussion of wrong doing ! The GOP has been operating under a “false flag ” for a long time !

Rick Frei (@guest_1167426)
Reply to  PAT
6 months ago

Demorats have been doing this a long time just look at clinton and pelosi demorat are richer than Republicans . it just that the demorats put them selfs above the law. Oh look at biden and family .

Lin Fewell (@guest_1167141)
Reply to  Kathy
6 months ago

Yes they do! Every single democrat should show there financial records! And they should not trade stocks! This is how they got filthy rich!

Referee (@guest_1167147)
Reply to  Lin Fewell
6 months ago

What about Republicans? Did any of them trade stocks? Are they all poor?

David (@guest_1167165)
Reply to  Referee
6 months ago

We don’t deny that some of the right are corrupt but the left is mostly all corrupt. They all need to be weeded out and charged with treason. Confiscate all monies and property, auction off there properties and give the taxpayers a rebate. Of course we would have to do the same with corrupt judges and prosecutors and put the Bunch of them in gitmo with no bail till we can seat new honest judges to prosecute them to the fullest extent of the law!!! I would imagine alot of them would be executed. What cha think?

Dan F. (@guest_1167195)
Reply to  Referee
6 months ago

There are damn few individuals who serve in Congress that don’t leave public office in far better financial shape than when they entered. Most are millionaires after just a few short years in office. Also, most don’t fully reveal the extent of their campaign funds, and retire taking that with them !

Medd (@guest_1167163)
Reply to  Lin Fewell
6 months ago

No one in Congress should be able to buy, sell or trade stocks while in office and that includes family. ALL members of Congress are dirty if they are given time. One of the prerequisites is to be dishonest. I don’t trust any of them as far as I can throw the Capitol building.

JIM (@guest_1167145)
Reply to  Kathy
6 months ago

They should dig into Nasty Pelosi and her husbands fortune accrued from dirty dealing.

Sue (@guest_1167150)
Reply to  JIM
6 months ago

Absolutely

Lillie (@guest_1167153)
Reply to  JIM
6 months ago

I agree!

Mary Rose A Lenz (@guest_1167193)
Reply to  JIM
6 months ago

Insider trading is one of the biggest problems and these people have all taken advantage of it! Pelosi especially from what I have read! This woman thinks she is above our laws and will do whatever it takes to have more and more money in her account—-seems her 150 million is not enough! Pelosi should definitely be investigated for fraudulent investing!

Anna (@guest_1167158)
Reply to  Kathy
6 months ago

To put am end to all rukus, all member of congress, Senate & house of representatives member part & present including presidents need to expose all their financial records that is including Hillary & Bill Clinton’s & their foundations , Obama’s & his foundations , past president & their foundations too. they are not different than president trump if he had to they have to as well We Americans just can not target one president / one person .

Lorna (@guest_1167404)
Reply to  Anna
6 months ago

I agree! Everyone on the hill should release their tax information and no inside trading while in office. It’s on both sides of the isle and this should be put to a halt. Leaving office a millionaire is just wrong.

Itty Bitty (@guest_1167116)
6 months ago

Demand copies of all politicians tax returns. I bet you will find every one of them are making a lot of money due to their political positions!!!!

Bemused Berserker (@guest_1167117)
6 months ago

I’m for banning Congress from the Stock Market period, while they’re in office. It shouldn’t have been allowed in the first place. Just another Founder F***up IMO.

Alice (@guest_1167119)
6 months ago

If they are in office long enough, almost all become crooks. Term limits! Then they won’t be in office long enough to become superior crooks. Serving wasn’t supposed to be a life long job in the first place.

Eddie Price (@guest_1167121)
6 months ago

Not a damn thing will happen to any of these Dem reprobates. Once again, ok for me but not for thee Pure political chicanery. FBI??? Justice Dept??? Crickets from both!

Tom Darko Jr (@guest_1167124)
6 months ago

While we are asking for tax reports from the congress ( both sides of the isle) let’s also ban lobbying ( bribery)!!!

Katydid (@guest_1167125)
6 months ago

They are all a bunch of dishonest, cheating, lying politicians. Only in it for their financial gain. Lets get them out and have term limits, with restrictions about buying stocks that they have some connection with as a politician.

What a pathetic bunch we have in DC. Especially the VP and Pelosi.
All out for themselves. To hell with the public that elected them.

ROBERT POWELL (@guest_1167129)
6 months ago

`everybody whined and cried and made Trump diversify all his holdings, it is only fair that CONGRESS AND THE HOUSE stop all business transactions as well. NO MORE PERKS, GIFTS AND BACK-DOOR DEALS..AND A 10 YEAR MORATORIUM ON LOBBY WORK……

Referee (@guest_1167143)
Reply to  ROBERT POWELL
6 months ago

Trump did not diversify his holdings and tried to and did steer business to them.
Your statement about lobbyist does make sense at all levels of government

Richard Myers (@guest_1167132)
6 months ago

Surprised not at all it seems like that’s a qualification they have to have to be a crook

Frank (@guest_1167148)
6 months ago

They’re all criminals and believe they are above the law I’m sure if they dig deeper into most of these politicians they’ll find most are guilty of something

Samuel Meachem (@guest_1167178)
6 months ago

And if you would have read what I read the other day. A friend of mine texted it to me, or I would included this today. It is in reguards to Nancy Pelosi using the United States air force for her own purposes, costing tax payers millions of dollars back in 2017 and 2018. They should investigate that as well.

J (@guest_1167228)
6 months ago

Democrats I read have their own constitution, not using the one that we have used forever. Read today they are going to put Harris in place of Biden, which is the same as putting Soros or any of them in there. People need to sign the petition to get Newsome out of California, so we can start opening up normally. Go to Change.org and sign the petitions against these people who are destroying America or write your own.

Stephen Russell (@guest_1167235)
6 months ago

See goes both ways Dems, U cant lecture Unless U do same
Hope for more like him or her taken down on Dem side
Hoorah

peter (@guest_1167257)
6 months ago

Where oh where is the Department of Justice in at all of this corruption that is running rapid in the House of Representatives and in the Senate, doesn’t anybody follow the LAW anymore, is this country so far out of control no one cares anymore. Think about those items before anyone else BREAKS the Law which I see a lot of people have been.

Pollty (@guest_1167267)
6 months ago

It never fails ,are all democrats evil lying thieving people?

Kay (@guest_1167427)
6 months ago

Term limits for all-won’t fix the problem but might slow it down.

Michael Saunders (@guest_1167444)
6 months ago

All members of our government should not be aloud to make a lot of money in the stock market when they are holding offices in our government.

Average informed citizen (@guest_1167514)
6 months ago

$2.76 million dollars is not an oversight. That huge amount of money is in the cross hairs of the investor morning, noon, and night. I call BS!

Wilbert C. Jennings Jr (@guest_1167570)
6 months ago

Because he is a Democrat it was a simple Mistake?????

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