Congress Stock Watcher Update
Welcome to our first update of 2022!
Hello all! We will be updating weekly to report the week’s transactions, and anything else we find interesting. Let us know what you want to hear and read!
All of our data is pulled from Senate Stock Watcher and House Stock Watcher. And check out our podcast for further discussion!
There were 288 total disclosures in May 2022: 170 purchases, 108 sales, and 10 exchanges. At least $7,333,287 was traded! Congresspeople purchased at least $4,197,169, sold at least $2,978,108, and exchanged at least $158,010.
Here are some interesting disclosures from the month of May!
The oldest transaction reported in May was a trade from TWO YEARS AGO: Delaware’s Democratic Senator Thomas Carper’s spouse reported two transactions from April 3rd 2020. These were an exchange worth between $1,000-15,000, between RTN and UTX, both Raytheon affiliates.
In April, Florida Republican Senator Rick Scott’s spouse purchased Municipal securities worth at least $1,250,000. These two large purchases were of Broward County Florida Airport System bonds totalling at least $750,000, and a Jacksonville Florida Transportation revenue bond for at least $500,000. In short, the former Governor of Florida is investing heavily in his state’s public transportation systems.
Republican Bill Hagerty of Tennessee’s four children each purchased a $100,000 dollar minimum security in CareBridge. They are a national Employee Assistance program with Life management, financial, wellness, and legal services. Their website is… minimal. Here is their Executive Brief, containing 13 run-on sentences and 1 stock photo of San Francisco whoops New York City.
Madison Cawthorn, the 26 year old Republican representative from Tennessee, is facing a financial scandal. Just days after the House Ethics Committee announced a probe into potential financial misconduct on May 23rd, Cawthorn voluntarily disclosed four cryptocurrency transactions from December 21st to December 31st 2021, over six months ago. He purchased at least $100,000 in “Let’s Go Brandon Coin”, posted pictures of himself with the coin’s founders on instagram, and sold at least $100,000 after the coin’s value rose 75%.Over the course of ten days. Not only does this violate the 45 day filing window of the STOCK act, evidence points to a potential “pump and dump” situation.
You can hear us talk about Cawthorn’s trades in depth on the podcast, and here is an excellent article from Fortune detailing the scandal, complete with a timeline!
That’s all we have for you this week! Listen to our podcast, check out our Subreddit, follow us on Twitter, and contribute transcriptions here!
HUGE THANKS to Tim and the amazing people transcribing the hand-written House disclosures that make all of this possible.
We are beyond excited to see you next week!