Trump HHS pick traded health stocks in companies he oversaw

It’s legal, but unethical.

Trump’s choice to be Health and Human Services secretary sold shares of once high-flying biotech company Gilead Sciences Inc. in March while buying those of marquee drugmakers including Pfizer Inc. and Eli Lilly & Co. They are among the latest trades reported by Rep. Tom Price, a Georgia Republican who’s long been an investor in medical stocks, according to congressional filings.

Members of Congress can buy and sell shares, even if the committees on which they serve directly influence federal policies affecting companies whose stock they own. Still, they should avoid actively investing in industries they oversee, said Richard W. Painter, who was an ethics lawyer for President George W. Bush’s administration. While there’s little chance that a lawmaker will have knowledge affecting a company’s stock price beyond what’s known to the general public, it raises questions, Painter said.

By: Alan

Alan Colmes is the publisher of Liberaland.