https://www.theepochtimes.com/congresswoman-on-panel-overseeing-virus-payouts-admits-failure-to-disclose-stock-sales_3322899.html
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.”