NEW: Democratic Rep. Jamie Raskin of Maryland violated a federal conflict-of-interest law by failing to properly disclose stock shares his wife received for advising a Colorado-based financial technology trust company. by @leonardkl @thisisinsider
businessinsider.com/democratic-rep…
businessinsider.com/democratic-rep…
The congressman disclosed information about the sale of Reserve Trust stock eight months after Sarah Bloom Raskin dumped the stock in late 2020 for $1.5 million, an Insider analysis of federal records indicates.
This violation of the Stop Trading on Congressional Knowledge Act's disclosure provisions, which exist to promote transparency and defend against financial conflicts, comes at a time of significant national attention for the Raskins.
Jamie Raskin, who acknowledged the late filing to Insider, is a prominent congressman who led Trump's 2nd impeachment trial. Sarah Bloom Raskin is Biden's nominee to fill the position of the gov's most powerful banking regulator & is set to face a key Senate panel on Thursday.
If confirmed, Sarah Bloom Raskin would become vice chairwoman of supervision at the
Federal Reserve, after having held top-level jobs at the US Treasury and the Fed during the Obama administration.
Federal Reserve, after having held top-level jobs at the US Treasury and the Fed during the Obama administration.
Yet she faces an uncertain confirmation path among Republicans and conservative Democrats in a narrowly divided Senate given that she has called for harsher financial regulations aimed at combating the climate crisis and supports tougher oversight on big banks.
The omission from congressional reports of the shares she held in Reserve Trust is likely to give Rs more fodder in trying to stall Biden's nominees. At least 1 conservative watchdog group is already questioning whether she used her past Fed connections to help the fintech trust.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
