Mitch McConnell's wife profiting from holding stock sworn to have divested from

Discussion in 'Politics' started by Here4money, May 29, 2019.

  1. Here4money


    Transportation Secretary Elaine Chao is the latest in a long line of Trump officials with apparent conflicts of interest.

    Accordingto The Wall Street Journal, Chao still holds shares in Vulcan, the nation’s largest construction materials supplier, despite having promised to divest from the company more than a year ago.

    Chao, who sat on the company’s board, signed an agreement ahead of her Senate confirmation in 2017 vowing, in part, to resign from her post and “receive a cash payout for all of my vested deferred stock units in April of the year following the year of my separation from service.” “I will not participate personally and substantially in any particular matter that to my knowledge has a direct and predictable effect on the financial interests of Vulcan Materials,” she said in the agreement, promising to “avoid any actual or apparent conflict of interest” and adding that she was “committed to the highest standards of ethical conduct for government officials.”
  2. vanzandt


    The Transportation Secretary holds stock in VMC and sat on the BOD?!!!
    omg. rotff
    Yeah... lets drain that swamp.
    Maga! :D
  3. Here4money


    She pinky promised. Odd that the media is refusing to identify her as Mitch's wife.
  4. Here4money



  5. The House just had John Dean in to lecture everyone on ethics in government.

    Maybe that will help.
  6. Here4money

    House committee launches investigation into Transportation Secretary Chao

    “The Committee is examining your misstatements of fact, your actions that may have benefitted the company in which you continued to hold shares, and your compliance with ethics and financial disclosure requirements,” Oversight and Reform Committee Chairman Elijah Cummings (D-Md.) and Rep. Raja Krishnamoorthi (D-Ill.), chairman of the Oversight and Reform Subcommittee on Economic and Consumer Policy, wrote in a letter to Chao requesting documents.

    Foremost has received hundreds of millions of dollars in loan commitments from a bank run by the Chinese government. Reports of Chao making joint public appearances and planning to travel to China to meet with government officials with her father since becoming Transportation secretary led lawmakers to investigate whether she has been using her position to further her family's business.

    The Oversight and Reform Committee requested that Chao provide by Sept. 30 all internal government communications about Foremost Group and Vulcan Materials Company; her canceled October 2017 trip to China and an official trip to China in April 2018; her annual public financial disclosure reports; and whether she has used a personal email address to communicate with her family or Foremost Group employees about official Transportation Department business.

    "Federal regulations prohibit federal employees from using their public offices for 'the private gain of friends, relatives, or persons with whom the employee is affiliated in a nongovernmental capacity,' " Cummings and Krishnamoorthi wrote.

    Chao, who is married to Senate Majority Leader Mitch McConnell (R-Ky.), was among the first Trump administration Cabinet secretaries to be confirmed in January 2017.

    The Oversight and Reform panel also asked Chao to investigate her failure to immediately divest stock in Vulcan — one of the nation's largest construction companies — where she served on the board of directors before becoming Transportation secretary.

    Chao did not sell her Vulcan shares until June 2019, after The Wall Street Journal reported that she had yet to divest from the company despite pledging to do so.
  7. RedDuke


    Well President set an example by not putting his assets to blind trust. Why would we expect his minions to do any different.
  8. Never understood why someone who has deep successful business interests would decide to come back to take a government position. You will then have the government all in your business and up your ass over everything and you take a pay cut basically.
  9. Here she is with her father behind the flags and seals making it look as if she is doing official business , but it's all private for personal pocket stuff.


    . :) .