Democrat Lawmaker Accused Of Violating Stock Laws

( Did Democratic Rep. Jamie Raskin of Maryland violate the Stop Trading on Congressional Knowledge (STOCK) Act? According to several reports, he may well have done.

The Democratic congressman reportedly failed to disclose a $1.5 million stock payout by his wife, according to Business Insider. And there’s more to this story than that…because it turns out that Raskin’s wife, Sarah Bloom Raskin, was nominated by President Joe Biden to be the vice chairwoman of supervision at the Federal Reserve.

Previously serving under the Obama administration, Raskin reportedly sold 195,936 shares of “Reserve Trust,” where she also sat on the advisory board, which gave her an influx of $1.5 million in profit. But it took eight months for the sale to be declared.

Under the ATOCK Act, every member of Congress is required to report their assets not just for themselves but also for their spouses, so long as those assets are worth more than $1,000.

Business Insider revealed, however, that Raskin didn’t disclose his wife’s holdings in Reserve Trust when she sat on the advisory board between 2017 and 2019.

So why wasn’t it declared?

Well, Raskin had a great excuse. He claimed that the tragic death of their son, who passed away on December 31, 2020, meant that they simply didn’t get around to it. The death occurred roughly two weeks after his wife had sold the stock.

Sarah Raskin was questioned about her failure to disclose the stock by Republican Wyoming Senator Cynthia Lummis on Thursday during a hearing.

Were they hoping nobody would notice?