Thread by @timkmak

NEW from me: Marc Short, the Vice President's chief of staff, holds as much as $1.64 million in individual stocks for companies doing work related to the Trump administration's pandemic response.

His holdings could run afoul of conflict of interest laws.
npr.org/2020/05/28/860…

Short holds substantial stock in medical/pharmaceutical/manufacturing companies like 3M, Abbott Labs, Gilead, Procter & Gamble, Medtronic, Bristol Myers Squibb, and Johnson & Johnson -- which have been involved in the Coronavirus Task Force

npr.org/2020/05/28/860…

Short, the chief of staff to the VP, also has holdings in CVS, Thermo Fisher Scientific, Walmart and Roche -- which have been publicly touted by the White House for their partnerships with the White House on Coronavirus response

npr.org/2020/05/28/860…

Marc Short declared some of his 100 listings of individual stocks across a range of economic sectors — to be potential conflicts of interest last year.

But he did not divest.

Here's a partial list of his stock holdings related to COVID response:

The law requires executive branch employees to resolve conflicts of interest before participating in any decision — or even deliberations — affecting particular companies or specific industries in which they are invested.

Violations carry potential civil and criminal penalties.

On at least two occasions, Vice President Pence's chief of staff Marc Short has publicly mentioned, on camera, companies in which he holds substantial amounts of stock

npr.org/2020/05/28/860…

On March 18, Marc Short mentioned the Vice President's trip to a 3M manufacturing plant to illustrate a point about liability protections.

Records show that he holds between $65,002 and $150,000 worth of 3M stock

npr.org/2020/05/28/860…

On March 20, Marc Short publicly hailed the work of Honeywell in producing respirator masks.

According to public disclosure records he holds between $50,001 and $100,000 worth of Honeywell stock.

npr.org/2020/05/28/860…

Short sought what is called Certificate of Divestiture -- a tax break designed to reduce the burden of complying with federal ethics laws.

He was denied the tax break -- and has not divested.

npr.org/2020/05/28/860…

But in order to even apply for a Certificate of Divestiture, you have to:

1) Acknowledge possible conflicts of interest
2) Promise to divest.

After being denied, the Vice President's chief of staff has not addressed the conflicts of interest.

npr.org/2020/05/28/860…

Not receiving the tax break is not a permissible reason under the law to avoid divesting from stock.

In fact, regulations require an employee requesting the tax break to commit in advance to divesting, whether or not OGE grants the request.

npr.org/2020/05/28/860…

The ethics office rejected his application because some of his stocks are held in trusts that would be difficult to divest from.

Short has not divested from the stocks inside the trust or the stocks outside the trust.

npr.org/2020/05/28/860…

Let's take a look at some of VP Pence Chief of Staff Marc Pence's holdings: **individual stocks** in Abbott Labs, 3M, Johnson & Johnson, Becton Dickson, Roche, Honeywell, CVS, Walmart -- all companies involved in the WH Coronavirus response

npr.org/2020/05/28/860…

Conflict of interest laws say you cannot participate in official discussions focused on companies that you have a personal financial interest in.

On at least two occasions, Pence's chief of staff spoke to reporters about companies he had holdings in.

npr.org/2020/05/28/860…

"Marc Short has followed all applicable ethics laws, and even sought to divest from potential financial conflicts," said Pence spokesman Devin O'Malley.

npr.org/2020/05/28/860…

Walt Shaub, who formerly headed the Office of Government Ethics, which handles conflicts of interests inside the federal govt, said "this is now a red alarm" and called for an FBI/DOJ investigation into Marc Short's stock holdings

npr.org/2020/05/28/860…

LATEST:

Rep. Gerry Connolly, who chairs a House oversight subcmte, says Marc Short's stocks warrant an investigation

He says Short's stocks pose "obvious conflict of interest" due to boss' COVID work, & not divesting reflects "cavalier treatment of serious ethical boundaries"

MEANWHILE, watchdog group Citizens for Responsibility and Ethics in Washington are drafting up a conflict of interest complaint to send to the FBI about VP Pence Chief of Staff Marc Short's stock holdings.

npr.org/2020/05/28/860…

Watchdog org @CREWcrew has sent a complaint to the FBI asking for VP chief of staff March Short to be investigated.

Short holds up to $1.64 mil of stock in companies related to WH COVID response

CREW also found new evidence of Short attending mtgs w/companies he holds stock in

CREW discovered that VP Chief of Staff Marc Short had attended a March 2 meeting with pharmaceutical companies, incl some he has stock in.

Here are the companies Short has holdings in:

Gilead, $2,002 - $30,000
Johnson & Johnson, $33,005 - $145,000
Pfizer, $51,002 - $115,000

CREW also discovered that VP Chief of Staff Marc Short attended a March 10 meeting with major insurance companies, incl some he has stock in.

Short holds $1,001 - $15,000 worth of stock in United Health Group and $16,002 - $65,000 worth of stock in CVS Health Corporation.

The full criminal complaint filed by CREW urging the FBI to investigate Marc Short can be found here:

citizensforethics.org/press-release/…