It was recently reported that one of the key members of the January 6 House Select Committee now finds himself in a jam.Maryland Democrat Rep. Jamie Raskin allegedly broke federal conflict-of-interest law by not disclosing shares of stock that his wife received for advising a Colorado-based financial technology trust company, Business Insider reported.
The congressman likewise 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.
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Jamie Raskin, who acknowledged he was late filing the portion of the disclosure about the sale and said it happened because of his son’s death, is a prominent congressman who led the second impeachment trial of former President Donald Trump. Sarah Bloom Raskin is President Joe Biden’s nominee to fill the position of the government’s most powerful banking regulator and faced a key Senate panel on Thursday.
She faces a tough road to confirmation with Republicans and conservative Democrats concerned about as she has said she wants tougher regulations on combating climate change.
But at her confirmation hearing on Thursday, she said she would not limit borrowing to the oil and gas industry.
“It is inappropriate for the Fed to make credit decisions and allocations based on choosing winners and losers,” she said. “Banks choose their borrowers, not the Fed.”
But The Wall Street Journal reported that “Republican senators at the hearing said her remarks appeared to be at odds with her past statements. They cited a May 2020 New York Times opinion article, in which Ms. Raskin was critical of broad-based emergency-lending backstops enacted by the Treasury Department and the Fed to assist businesses during the pandemic because she believed they should have taken steps to prevent lending to oil-and-gas concerns.”