Congresswoman Donna Shalala openly admitted that she did not disclose at least 6 stock sales that were made following her election to the U.S. house in 2018 according to a Zerohedge report.
The sales were curiously discussed after Nancy Pelosi appointed Shalala to a committee presiding over hundreds of billions of dollars of bailout money being doled out to corporations via the Wuhan virus relief bill, according to a report from Axios.
Shalala sold some of her stocks in Boeing, Alaska Airlines, Chevron, Conoco, and AMC after winning her congressional race in 2018.
She defended her actions by saying that she made the sales in order to avoid conflicts of interest. However, she did not report the stock sales within 45 days as mandated by the STOCK act. “I did file my disclosure report, so everybody knew what my holdings are. They didn’t know I was unloading the entire portfolio so I could put everything into mutual [funds] basically to avoid any conflict of interest,” she stated, according to The Hill.
Her spokesperson, Carlos Condarco, previously stated that Shalala was not acquainted with the rules. “She had a misunderstanding about the periodic transaction report process and her need to report the sale of these stocks while preparing a blind trust. As a new member with a broker and attorney who were not familiar with the congressional disclosure rules, there was a misunderstanding.”
However, Shalala contradicted her spokesman’s statement:
Look, I knew what the law was. I missed the deadlines.
It was my mistake and I take full responsibility. I missed the deadlines. And I have to take responsibility, personal responsibility for doing that. No one else is responsible except for me.
In terms of punishment, Shalala said that she is receptive to whatever is appropriate: “Whatever they think is appropriate. Whether it’s a financial penalty or anything else. I’m really sorry I missed those deadlines in the process of trying to do the right thing.”
Politicians have lately come under fire for selling stocks after attending a private congressional briefing on the Wuhan virus. Georgia Senator Kelly Loeffler was the most notable of these figures who bought and sold roughly $1.4 million in stock right before the market crashed.
According to the Wall Street Journal:
Ms. Loeffler reported that she and her husband bought about $590,000 of stock and sold about $845,000 of stock from Feb. 18 through March 13. If they had held the shares they sold through Monday, the stock would have been valued at $86,000 less than what they sold it for, according to the Journal analysis.
If Congress wants to make wealth transfers more accountable, it needs to completely prohibit elected officials who have sensitive stocks from presiding over bailout commissions.
Better yet, Congress should not be bailing out any companies and let them fail instead.
The American Right Should Beware of Campaign Consultant Grifters
Some people want to make a quick buck with zero results to show for it.
Heading into 2022 and 2024, America First operatives should be careful dealing with campaigns run by grifters.
Patrick Clerbune of VDARE put out an informative post that serves as a warning to all about the rampant corruption within Republican political consultant outfits.
He highlighted a Washington Post piece detailing how donors gave more than $8 million to Kim Klacik, a black woman running as a Republican candidate in Maryland’s 7th district. In reality, the money donated to Klacik’s campaign went straight to the fat pockets of political consultants who knew full well that she couldn’t win.
The Post went into further detail about this naked grifting opportunity:
Her campaign is an example of how some consulting firms are profiting handsomely from Republican candidates who have robust appeal in today’s politically charged environment…
By the end of Klacik’s campaign, she would raise a staggering $8.3 million and pay nearly $3.7 million of it to Olympic Media, according to campaign finance filings.
For political veterans, this is nothing new under the sun. Political consultant parasites such as Karl Rove are notorious for enriching themselves by running failed campaigns and diverting resources from actual winnable races. Rove was also involved in the Georgia Senate dumpster fire, where the GOP dropped a whopping $1 billion and still ended up losing both seats.
Pointing out how the managerial state is detrimental to all Americans, especially minorities, is one thing. But using failed ethnic pandering and running campaigns in districts that can never be won by Republicans is another.
In the aforementioned case, Maryland’s 7th district has never gone Republican in its history and was the long-time home of Elijah Cummings from 1996 until his death in 2019. Democrat challenger Kweisi Mfume completely obliterated Klacik 74 to 25 in the 2020 general election.
Intelligent nationalists would be wise to recognize that certain races are lost causes, which drain resources that could otherwise be allocated towards winnable campaigns. A large degree of skepticism should always be directed towards the political consultant class. Their money-making model does not always translate into electoral success.
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