Democrat who campaigned against corruption makes well-timed stock trades.
Meet Dan Goldman: The Rising Star of Washington
“Anti-corruption” crusader Dan Goldman is making waves in Washington, but not for his legislative prowess.
Goldman, a freshman Democratic congressman from New York, has been in the news lately for his well-timed stock trades. According to his latest financial disclosures, he purchased over $65,000 in shares of two software companies, Nvidia and BILL Holdings, on April 10. Since then, Nvidia and BILL Holdings have increased 41% and 32%, respectively, while the S&P 500 index has only increased 2%. This is not the first time Goldman has made a well-timed trade. During his congressional campaign, he sold over $15,000 worth of shares in PacWest Bancorp just two days before its share price plummeted amid concerns about a bank run.
Goldman’s trades have come under scrutiny, especially in light of the recent insider trading scandals involving lawmakers such as Rep. Nancy Pelosi, Sen. Dianne Feinstein, and former Sen. Richard Burr. A bipartisan group of lawmakers has proposed legislation to ban members of Congress from trading stocks.
A Former Prosecutor with a Pledge
Goldman, a former federal prosecutor who rose to prominence as the lead prosecutor in the first impeachment of former president Donald Trump, pledged during his campaign to set up a blind trust for all of his assets. However, he has yet to create one since taking office. A spokesman for Goldman said that the congressman does not personally conduct his stock trades and that they are “managed entirely by an investment adviser, with whom he has no discussions about any stock trades since entering Congress.”
Goldman has expressed support for legislation to bar members of Congress from trading stocks. Reps. Matt Gaetz and Alexandria Ocasio-Cortez recently cosponsored a bill to ban congressional stock trading.
Conclusion
Goldman may be making a name for himself in Washington, but it remains to be seen whether his well-timed trades will have any lasting impact on his political career. As the debate over insider trading in Congress continues, one thing is clear: the public is watching.
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