OPINION: This article may contain commentary which reflects the author's opinion.
One of the key members of the January 6 House Select Committee now finds himself in a jam.
Maryland Democrat Rep. Jamie Raskin allegedly broke federal conflict-of-interest law by not disclosing shares of stock that his wife received for advising a Colorado-based financial technology trust company, Business Insider reported.
The congressman likewise disclosed information about the sale of Reserve Trust stock eight months after Sarah Bloom Raskin dumped the stock in late 2020 for $1.5 million, an Insider analysis of federal records indicates.
This violation of the Stop Trading on Congressional Knowledge Act’s disclosure provisions, which exist to promote transparency and defend against financial conflicts, comes at a time of significant national attention for the Raskins.
Biden picked Sarah Bloom Raskin for a top job at Fed. Confirmation process has revealed she had $1.5m in stock that her husband, Democratic Rep. Jamie Raskin, failed to disclose for years, violating conflict-of-interest law. From @BusinessInsider https://t.co/m5aYDQ5Ja8
— Byron York (@ByronYork) February 4, 2022
Jamie Raskin, who acknowledged he was late filing the portion of the disclosure about the sale and said it happened because of his son’s death, is a prominent congressman who led the second impeachment trial of former President Donald Trump. Sarah Bloom Raskin is President Joe Biden’s nominee to fill the position of the government’s most powerful banking regulator and faced a key Senate panel on Thursday.
She faces a tough road to confirmation with Republicans and conservative Democrats concerned about as she has said she wants tougher regulations on combating climate change.
But at her confirmation hearing on Thursday, she said she would not limit borrowing to the oil and gas industry.
“It is inappropriate for the Fed to make credit decisions and allocations based on choosing winners and losers,” she said. “Banks choose their borrowers, not the Fed.”
But The Wall Street Journal reported that “Republican senators at the hearing said her remarks appeared to be at odds with her past statements. They cited a May 2020 New York Times opinion article, in which Ms. Raskin was critical of broad-based emergency-lending backstops enacted by the Treasury Department and the Fed to assist businesses during the pandemic because she believed they should have taken steps to prevent lending to oil-and-gas concerns.”
“The decisions the Fed makes on our behalf should build toward a stronger economy with more jobs in innovative industries—not prop up and enrich dying ones,” she said in 2020.
She said that her beliefs have not changed but that the story “did not have to do with the context of supervision and regulation.”
Her husband was one of the Democrats who led the impeachment against former President Donald Trump after January 6, 2021.
But he has defended President Joe Biden often, as in October when he spoke to CNN host Anderson Cooper on Friday and made excuses for why what Joe Biden said about prosecuting those who do not comply with Congressional subpoenas is not the same as things Donald Trump did as president, The Washington Examiner reported.
“The first thing he said was that the committee should aggressively enforce our right to get people’s testimony and to get the documents we’ve subpoenaed, and there is no problem with that,” the Democrat said.
“I also don’t have a problem with him, as a citizen like me, saying he hopes the Department of Justice will aggressively enforce the law, so people don’t get away with committing crimes like this,” he said.