Congresswoman on Panel Overseeing Virus Payouts Admits Failure to Disclose Stock Sales By Zachary Stieber see note please!
Shalala was also president of Hunter College, and chancellor of University of Wisconsin….and she “misunderstood” the ethical lapse? Oh Puleez…. rsk
A U.S. representative named to a panel overseeing a portion of the $2.2 trillion stimulus bill admitted she failed to disclose stock sales while in Congress, a violation of federal law.
Rep. Donna Shalala (D-Fla.), elected in 2019 after serving as the president of the Clinton Foundation, called what happened a “mistake.”
Under the STOCK Act, members of Congress are required to report stock transactions. But Shalala made a number of sales last year and didn’t report them.
“I missed the deadlines. But I was doing the opposite of insider trading I was getting rid of any conflict of interest in the process. I was unloading the entire portfolio so I could put everything in mutuals and ETFs so I could avoid any conflict of interest,” Shalala told CBS Miami.
“I apologize for them. It was my mistake. And I take full responsibility.”
The lawmaker, who headed the Department of Health and Human Services under President Bill Clinton, said she knew about the STOCK Act, describing herself as a strong supporter of the law.
But a spokesman sounded a different tune, describing what happened as a “misunderstanding.”
“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,” Shalala spokesperson Carlos Condarco told the Miami Herald. “As a new member with a broker and attorney who were not familiar with the congressional disclosure rules, there was a misunderstanding.”
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