Donald Trumps Pick for Health Secretary Traded Medical Stocks While in House
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.
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Mr. Price, an orthopedic surgeon who chairs the House Budget Committee, has played an influential role in shaping health legislation. He sits on the Ways and Means Committees health panel, which oversees Medicare. He also is a member of the Republicans Congressional Health Care Caucus that has called for repeal of the Obama administrations landmark health overhaul.
Mr. Prices trading is likely to be a significant issue during his Senate confirmation hearings. Allegations of abusive trading by members of Congress in recent years led to a 2012 lawthe Stop Trading on Congressional Knowledge (STOCK) Actthat bars members and employees of Congress from using any nonpublic information derived from the individuals position
or gained from performance of the individuals duties, for personal benefit. The law also requires members to report their trades within 45 days.
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http://www.wsj.com/articles/donald-trumps-pick-for-health-secretary-traded-medical-stocks-while-in-house-1482451061
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All I can think of - so there is conflict of interest. This is news?