SCANDAL: Democrat’s Wife Secret $1.5M Stock Payday
SCANDAL: Democrat’s Wife
Secret $1.5M Stock Payday
You’re not going to be surprised.
A conservative watchdog group alleges Rep. Jamie Raskin (D-MD) violated federal financial disclosure laws by failing to properly report in a timely manner over $1.5 million in stock shares his wife received from a financial technology company.
Raskin currently serves as the ranking member of the powerful House Oversight Committee. The complaint renews misconduct allegations against the high-profile Democrat that previously contributed to sinking his wife's nomination for a key post in the Biden administration.
Background on Initial Failure to Disclose Transaction
According to the complaint, Raskin waited approximately 8 months to disclose that his wife, Sarah Bloom Raskin, received 195,936 shares of Reserve Trust stock valued at $1.5 million on December 18, 2020. However, Rep. Raskin did not file the required disclosure paperwork for the transaction until August 2021. The substantial delay raised ethics red flags at the time and generated significant scrutiny of Raskin's finances.
His wife later withdrew her nomination for Vice Chair of Supervision at the Federal Reserve after Raskin's tardy disclosure and failure to properly report the income contributed to bipartisan concerns about her candidacy.
Details of Renewed Ethics Complaint
In its new complaint filed Friday, the conservative Center for Renewing America alleges Raskin violated the federal Ethics in Government Act by neglecting to report his wife's earned income from Reserve Trust in his annual financial disclosures from 2017 to 2020.
The group argues this omission raises serious concerns that Raskin may have also failed to disclose other compensation his wife received during those years in violation of disclosure requirements.
The complaint requests the Office of Congressional Ethics open a formal investigation into the following issues:
- Whether Raskin violated House ethics rules through his delays in reporting assets related to his wife's business dealings.
- If Raskin failed to disclose other income or assets related to his wife's work in prior years' financial reports.
- If Raskin took any official actions as a member of Congress over the past several years that improperly benefited his wife's clients, especially Reserve Trust.
The Path Forward: Have Hope, Stay Focused on What Matters
The conservative watchdog group argues Raskin's disclosure delays call into question his honesty and ability to serve his constituents' interests. With Raskin now holding a powerful oversight role in the Democratic-controlled House, the complaint ensures renewed scrutiny of his family finances and his compliance with congressional ethics requirements.
While concerning, we must not let bad actors distract us from staying focused on what really matters: investing wisely, supporting economic policies that create jobs, and electing officials who defend free enterprise.
As long as we keep our eyes on those goals and vote our values, the future remains bright. This too shall pass, so have hope. Our economy has overcome far greater challenges before, and it will again.
Stay focused on your portfolio, watch the Democrats closely for anti-business policies, and trust the Republicans are fighting for us in Washington. If we keep doing that, our future remains secure.
James Reagan