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Dem congressman who literally represents Wall Street raises eyebrows with stock trades
A first-term Democratic congressman representing Wall Street has become one of Congress's most prolific stock traders, and recently sold shares in a troubled California bank just days before the stock plummeted in value.
Rep. Dan Goldman, who represents a congressional district that includes Lower Manhattan's Financial District in New York City, sold up to $15,000 in shares of PacWest Bancorp on March 6, according to his financial disclosures. The sale came just two days before the stock of the Beverly Hills-based bank holding company plummeted in value as investors fled from small and mid-sized banks amid news of Silicon Valley Bank’s pending failure.
PacWest's stock was valued at $27.40 when Goldman sold his shares but dropped to about $5.75 as of Friday, entering a freefall after Silicon Valley Bank collapsed on March 10.
"The timing doesn't look good, and that's for sure," Dylan Hedtler-Gaudette of the Project on Government Oversight told the Washington Examiner. "It's just another reason why the practice of members of Congress trading stocks is so problematic.".....
https://www.foxnews.com/politics/de...ents-wall-street-raises-eyebrows-stock-trades
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Democrat Congresspeople are great stock traders.
A first-term Democratic congressman representing Wall Street has become one of Congress's most prolific stock traders, and recently sold shares in a troubled California bank just days before the stock plummeted in value.
Rep. Dan Goldman, who represents a congressional district that includes Lower Manhattan's Financial District in New York City, sold up to $15,000 in shares of PacWest Bancorp on March 6, according to his financial disclosures. The sale came just two days before the stock of the Beverly Hills-based bank holding company plummeted in value as investors fled from small and mid-sized banks amid news of Silicon Valley Bank’s pending failure.
PacWest's stock was valued at $27.40 when Goldman sold his shares but dropped to about $5.75 as of Friday, entering a freefall after Silicon Valley Bank collapsed on March 10.
"The timing doesn't look good, and that's for sure," Dylan Hedtler-Gaudette of the Project on Government Oversight told the Washington Examiner. "It's just another reason why the practice of members of Congress trading stocks is so problematic.".....
https://www.foxnews.com/politics/de...ents-wall-street-raises-eyebrows-stock-trades
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Democrat Congresspeople are great stock traders.