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insider trading
'Evil and Cruel': GOP Lawmaker Shamed for Unloading Medicaid-Related Stock Before Voting to Gut Program
"Their bill will gut Medicaid and kill people, and they know it," said Rep. Delia Ramirez (D-Ill.).
Jul 03, 2025
Republican Congressman Robert Bresnahan of Pennsylvania got publicly shamed by many of his congressional colleagues on Thursday after it was revealed he unloaded a Medicaid-related stock before voting for a massive budget package that enacted historically devastating cuts to the program.
Quiver Quantitative, an investment data platform that tracks stock trades made by politicians and other prominent public figures, revealed on its X account that Bresnahan recently sold shares he'd owned in Centene Corporation, a for-profit firm that specializes in delivering healthcare exchanges for Medicaid. In the weeks since he sold his shares in the company, their value plunged by more than 40 percent.
Quiver Quantitative added that while Bresnahan claims not to manage his own stock portfolio, he does not appear to have set up a qualified blind trust that would eliminate potential conflicts of interest between his investments and his work as a member of Congress.
Regardless, many of Bresnahan's Democratic colleagues reacted with fury and disgust to revelations that the Centene shares were dropped before he voted for a bill that will slash more than $1 trillion from Medicaid and the Children's Health Insurance Program (CHIP) over the span of a decade.
"This Congressman literally dumped stock in a Medicaid provider company right before this bill came to the floor," wrote Rep. Melanie Stansbury (D-N.M.) on X. "Don't be fooled—these guys know exactly what they're doing."
"Wow," marveled Rep. Maxwell Frost (D-Fla.). "So he votes to gut Medicaid and throw 17 million people off of their healthcare and then dumps his Medicaid related stock to cover his own ass? That's just evil and cruel."
"If the Big Ugly Nasty Bill doesn't hurt Medicaid, why are Republicans selling their Medicaid-associated stocks?" asked Rep. Delia Ramirez (D-Ill.). "Their words say one thing, their actions another. Their bill will gut Medicaid and kill people, and they know it."
Sen. Elizabeth Warren (D-Mass.) ripped Bresnahan for "protecting his stock portfolio while ripping away health care from 17 million Americans" with his vote to gut Medicaid.
"This is Washington at its worst," she added. "We need to ban Congressional stock trading."
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Warren to Trump Treasury Chief: Did You Give Wall Street Execs Insider Info on Trade Talks?
"You owe Congress and the public an explanation for why you and other White House officials appear to be providing Wall Street insiders secret information on the tariffs," wrote Democratic Sen. Elizabeth Warren.
Apr 28, 2025
Democratic U.S. Sen. Elizabeth Warren is pressing Treasury Secretary Scott Bessent for answers following reports that officials inside President Donald Trump's White House have been providing Wall Street executives with advance notice about potentially market-moving trade talks with other nations, including China and India.
In a letter to Bessent dated April 25, Warren points to a Bloomberg story noting that Bessent "told a closed-door investor summit" that the "tariff standoff with China cannot be sustained by both sides and that the world's two largest economies will have to find ways to de-escalate."
The summit, which took place last Tuesday, was hosted by the Wall Street behemoth JPMorgan Chase in Washington, D.C. Bloomberg observed that the S&P 500 rose nearly 3% after Bessent's comments were leaked.
CNN additionally reported that Bessent's private assessment of the U.S.-China standoff "gave a boost to a Wall Street rally that had taken shape earlier on Tuesday, with all three major U.S. stock indexes hitting their highest levels of the day after Bessent's remarks were made public."
"Chaos, confusion, economic damage, and opportunities for corruption have become the hallmark of President Trump's rollout of his tariff policies."
Warren wrote in her letter that the JPMorgan event "was not open to the public or media" and expressed concern that Bessent "provided a room full of wealthy investors and Wall Street executives exclusive, advance tips about the administration's trade policy, potentially creating the opportunity for insider trading or other financial profiteering by well-connected friends of the administration."
"Chaos, confusion, economic damage, and opportunities for corruption have become the hallmark of President Trump's rollout of his tariff policies," Warren continued. "President Trump's opaque decision-making on tariffs and frequent, seemingly random changes of course have created a scenario where wealthy investors and well-connected corporations can get special treatment, receiving inside information they can use to time the market, or obtaining tariff exemptions that are worth billions of dollars—while Main Street, small businesses, and America's families are left to clean up the damage."
"You owe Congress and the public an explanation for why you and other White House officials appear to be providing Wall Street insiders secret information on the tariffs, while withholding that information from the public," the senator added, demanding that Bessent answer a series of questions—including who attended the event and how much time passed between his private remarks and press reports on the event.
Warren sent the letter a day after Fox Business correspondent Charles Gasparino reported that unnamed officials inside the Trump White House have been "alerting Wall Street execs they are nearing an agreement in principle on trade with India," heightening concerns that the administration is effectively encouraging insider trading.
Trump told reporters Friday that he "can't imagine" anyone in his administration tipping off Wall Street executives about nonpublic trade developments.
"I have very honorable people, that I can say," the president said. "So I can't even imagine it."
On Monday, a group of congressional Democrats warned the White House of "potential violations of federal ethics and insider trading laws by individuals close to the president with access to nonpublic information."
The Democratic lawmakers pointed specifically to a spike in the volume of call options—essentially bets that a stock price will rise—shortly before Trump announced a partial tariff pause earlier this month.
"We therefore urgently request a full accounting of the periodic transaction reports for all senior White House and executive branch employees since the start of the administration, and we ask for your commitment to transmit all reports to the Office of Government Ethics (OGE) to be made public, as was done during the first Trump administration," the lawmakers wrote Monday. "By failing to take these steps, the administration would be withholding critical information from the American people regarding potential violations of federal ethics and insider trading laws."
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'Flagrantly Enabling Insider Trading': Trump White House Reportedly Tips Off Wall St on Trade Talks
"Wall Street execs are getting a direct heads-up from the White House about news that could earn them billions on the stock market."
Apr 24, 2025
Officials inside U.S. President Donald Trump's White House have reportedly tipped off Wall Street executives about a potentially imminent trade agreement with India, a move that one watchdog group described as further evidence that the administration is "flagrantly enabling insider trading."
Fox Business correspondent Charles Gasparino reported Thursday that unnamed "people inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India." Gasparino cited "senior Wall Street execs" with ties to the Trump White House.
It's not clear what kind of information Trump administration officials provided Wall Street executives or how the information differs from publicly available reporting and White House comments on the U.S.-India trade talks, which have thus far been scant on specific details about the timing or provisions of a potential deal.
U.S. Treasury Secretary Scott Bessent, a former hedge fund manager, told reporters Wednesday that the Trump administration was "very close" to a bilateral trade agreement with India, one of the United States' largest trading partners.
The report of behind-the-scenes communications between the Trump White House and Wall Street executives on a matter that could substantially move financial markets drew immediate alarm.
Emily Peterson-Cassin, corporate power director at the Demand Progress Education Fund, said Thursday that "while we all look at our retirement accounts with alternating relief and horror, Wall Street execs are getting a direct heads-up from the White House about news that could earn them billions on the stock market."
"The White House is flagrantly enabling insider trading and is continuing their long history of embracing Wall Street while throwing everyday Americans to the wolves," said Peterson-Cassin. "These tip-offs also serve as a corrupt shakedown scheme to lure powerful CEOs into Trump's orbit to beg for their own special carve-outs. It is crystal clear that the president doesn't care about fighting for Main Street and just wears economic populism like one of his ill-fitting suits."
Earlier this month, Trump himself sparked insider trading concerns by writing on his social media platform that it was a "great time to buy" stocks shortly before announcing a partial 90-day tariff pause, which sent equities surging.
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