How could a guy of such high integrity and transparency decide to suspend his re-election campaign?
A little Federal indictment for Insider trading shouldn’t stop anyone.Making telephone calls from a White House picnic to your kid about selling stock on a failed Pharma test isn’t a conflict,is it?
A little backdrop:
Title of this expose:
How to become wealthy in Congress with no conscience toward the public interest.Exclusively private interests and enhancing your wealth.
In other words,a Congressional pharma whore.
While the other congressmen who invested in Australian Pharma Innate were not implicated in the indictment, the allegations against Mr. Collins have revived calls for stricter rules about financial investments or corporate board seats held by members of Congress while they are sitting on committees with oversight into those businesses.
Mr. Collins may have been the largest investor in health companies on the House Energy and Commerce Committee, but one-third of its members also bought and sold biotech, pharmaceutical and medical device stocks.Republican Representatives William Long II, Larry Bucshon and Markwayne Mullin, all of whom served with Mr. Collins on the panel’s health subcommittee, each invested in Innate. The subcommittee weighed in on topics ranging from the Food and Drug Administration’s authority over speeding up approval of new drugs to the Affordable Care Act.
Beyond Innate Immunotherapeutics, Mr. Collins, among the wealthiest members of Congress, has held leadership roles in other biotech companies that were little known or mentioned on Capitol Hill. Until this past week, he was chairman of the board of directors of ZeptoMetrix, a private lab company based in Buffalo that he co-founded and that has received millions of dollars in federal contracts, according to government records. He also reported owning between $25 million and $50 million in shares of the company, but has since transferred an unknown amount into his wife’s name, a company spokesman said. In June, he sold as much as $1 million of stock in Chembio Diagnostics, a medical tests and equipment manufacturer, according to his ethics disclosure forms.
Mr. Collins did not disclose these ties in committee hearings when topics overlapped with his business interests, including the development of a test for the Zika virus and whether the F.D.A. should more closely regulate some types of lab tests. Earlier, in 2013, he brought up the experimental drug that Innate was developing in a hearing about brain research, but did not mention his financial stake in the company.
https://www.cnbc.com/2018/08/11/chr...s-success-before-insider-trading-charges.html
A little Federal indictment for Insider trading shouldn’t stop anyone.Making telephone calls from a White House picnic to your kid about selling stock on a failed Pharma test isn’t a conflict,is it?
A little backdrop:
Title of this expose:
How to become wealthy in Congress with no conscience toward the public interest.Exclusively private interests and enhancing your wealth.
In other words,a Congressional pharma whore.
While the other congressmen who invested in Australian Pharma Innate were not implicated in the indictment, the allegations against Mr. Collins have revived calls for stricter rules about financial investments or corporate board seats held by members of Congress while they are sitting on committees with oversight into those businesses.
Mr. Collins may have been the largest investor in health companies on the House Energy and Commerce Committee, but one-third of its members also bought and sold biotech, pharmaceutical and medical device stocks.Republican Representatives William Long II, Larry Bucshon and Markwayne Mullin, all of whom served with Mr. Collins on the panel’s health subcommittee, each invested in Innate. The subcommittee weighed in on topics ranging from the Food and Drug Administration’s authority over speeding up approval of new drugs to the Affordable Care Act.
Beyond Innate Immunotherapeutics, Mr. Collins, among the wealthiest members of Congress, has held leadership roles in other biotech companies that were little known or mentioned on Capitol Hill. Until this past week, he was chairman of the board of directors of ZeptoMetrix, a private lab company based in Buffalo that he co-founded and that has received millions of dollars in federal contracts, according to government records. He also reported owning between $25 million and $50 million in shares of the company, but has since transferred an unknown amount into his wife’s name, a company spokesman said. In June, he sold as much as $1 million of stock in Chembio Diagnostics, a medical tests and equipment manufacturer, according to his ethics disclosure forms.
Mr. Collins did not disclose these ties in committee hearings when topics overlapped with his business interests, including the development of a test for the Zika virus and whether the F.D.A. should more closely regulate some types of lab tests. Earlier, in 2013, he brought up the experimental drug that Innate was developing in a hearing about brain research, but did not mention his financial stake in the company.
https://www.cnbc.com/2018/08/11/chr...s-success-before-insider-trading-charges.html
Last edited:
