Senator Ron Wyden (D-OR) is facing considerable heat right now over the stock holdings of his wife.
Republicans are now demanding that he resign his position as Chair of the Senate Finance Committee.
According to the report, his wife holds roughly $3 million in stock in major tech companies under the oversight of the committee.
Time to Step Down
Insider trading among members of Congress is a sore spot for many Americans, but that just keeps rolling along regardless of how much we complain.
Several weeks ago, there was a report that Paul Pelosi, again, raked in millions on a stock options deal with companies impacted by legislation in Congress.
While Pelosi’s little scam goes unchecked, Senate Republicans want to see Wyden resign his chair position after it seems pretty apparent that his wife is cashing in on pillow talk.
A group of Republicans informed Wyden of their desire to see him step down after penning a letter outlining what appears to be a clear conflict of interest.
In part, the letter stated, “We are alarmed by reports of your wife’s exceptionally large stock holdings, totaling $3 million, in four of the Big Five technology companies that you are tasked with overseeing – Apple, Microsoft, Amazon, and Google.”
According to financial reports, Mrs. Wyden has at least $1.5 million in holdings in those companies, as well as having received somewhere between $15,001 and $50,000 in dividends from Apple during the 2022 year.
The letter continues, “As Chair of the Senate Finance Committee, you help determine whether these companies can continue their dangerous and socially destructive behavior, or whether they will be reined in. And Mrs. Wyden’s investments – and therefore your own financial ties to these companies via your wife – bring your commitment to the task into question.
“Conflicts of interest like this would pose ethical problems for any policymaker. But yours is especially problematic, given that you personally wield enormous power over the economic fate of the very same companies these investments support.”
The group is being led by New York Young Republican Club President Gavin Wax, and includes College Republicans of America President William Donahue, Republicans for National Renewal Executive Director Mark Ivanyo, National Constitutional Law Union Chairman John Pierce, Students for Trump Chairman Ryan Fournier, and Italian American Civil Rights League President Paul Ingrassia.
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Author: G. McConway
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