{"id":1911624,"date":"2023-04-08T02:27:52","date_gmt":"2023-04-08T06:27:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oops-dem-lawmakers-wife-bought-silicon-valley-bank-stock-day-before-collapse\/"},"modified":"2023-04-08T02:29:10","modified_gmt":"2023-04-08T06:29:10","slug":"oops-dem-lawmakers-wife-bought-silicon-valley-bank-stock-day-before-collapse","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oops-dem-lawmakers-wife-bought-silicon-valley-bank-stock-day-before-collapse\/","title":{"rendered":"Oops: Dem Lawmaker&#8217;s Wife Bought Silicon Valley Bank Stock Day Before Collapse"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Foops-dem-lawmakers-wife-bought-silicon-valley-bank-stock-day-before-collapse%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1911624&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div>\n<h2 itemprop=\"headline\">Abrasive timing: The wife of a lawmaker purchased SVB share the day before the bank failed.<\/h2>\n<\/div>\n<div itemprop=\"mainEntityOfPage\">\n<p><span>A<\/span><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/democratic\" target=\"_blank\" rel=\"noopener\">Democratic<\/a> congressman&#8217;s wife purchased a hefty amount in <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/silicon-valley-bank\" target=\"_blank\" rel=\"noopener\">Silicon Valley Bank<\/a> stock just one day before its historic collapse, which has seen the stock tumble by over 95%, a financial disclosure shows. <\/p>\n<p>Rep. Earl Blumenauer( D-OR ) has <a href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/earl-blumenauer-HHS-<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/stock-market\" target=\"_blank\" rel=\"noopener\">stocks<\/a>-investigation-watchdog-congress&#8221; target=&#8221;_blank&#8221; rel=&#8221;noopener&#8221;>frequently<\/a> admitted that his wife, Margaret D. Kirkpatrick, has traded <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/stock-market\" target=\"_blank\" rel=\"noopener\">stocks<\/a> and bonds through her retirement portfolio on occasion in a profitable manner. However, one of her most recent stock purchases hasn&#8217;t really gone as planned, <a href=\"https:\/\/disclosures-clerk.house.gov\/public_disc\/ptr-pdfs\/2023\/20022667.pdf\" target=\"_blank\" rel=\"noopener\">according<\/a> to a financial reporting state from Wednesday that was examined by the <i>Washington Examiner<\/i>.<\/p>\n<p><b><a href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/earl-blumenauer-HHS-stocks-investigation-watchdog-congress\" target=\"_blank\" rel=\"noopener\">WATCHDOG DEMANDS INVESTIGATION INTO DEMOCRATIC CONGRESSMAN FOLLOWING <\/a><i><a href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/earl-blumenauer-HHS-stocks-investigation-watchdog-congress\">WASHINGTON EXAMINER<\/a><\/i><a href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/earl-blumenauer-HHS-stocks-investigation-watchdog-congress\"> REPORT<\/a><\/b><\/p>\n<p>On March 9, one day after the California company started to lose quality due to its statement that it needed to raise$ 2.2 billion and sold$ 21 billion in assets, Kirkpatrick bought between$ 1, 001 and$ 15, 000 stocks of SVB. The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/fdic\" target=\"_blank\" rel=\"noopener\">Federal Deposit Insurance Corporation<\/a> took over the lender on March 10, and its closure caused shock waves and worries about a banking crisis to spread throughout the business.<\/p>\n<p>It was the second-largest banks loss in American history. Owners were eliminated, and its property was delisted. The stock was trading at$ 0.40 per share when it reopened on March 28 and is still trading below$ 1 as of Friday morning. According to Capitol Trades, a team that examines supply deals among members of Congress, Kirkpatrick purchased at about$ 106 per share.<\/p>\n<p>We&#8217;ve long&#8217;ve known that Earl Blumenauer was way off base when it came to spending, but it&#8217;s encouraging&#8217;s to see that his reckless and foolish spending habits extend beyond the federal checkbook and into the finances of his family, said Tom Jones, president of the American Accountability Foundation, a <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/conservative\" target=\"_blank\" rel=\"noopener\">conservative<\/a> watchdog organization.<\/p>\n<div>\n<figure data-align=\"center\" data-image-size=\"fixed\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\">\n<div><picture><source media=\"(max-width: 768px)\" type=\"image\/webp\" width=\"767\" height=\"525\" data-image-size=\"1060x600_md\" ><source media=\"(max-width: 768px)\" width=\"767\" height=\"525\" data-image-size=\"1060x600_md\" ><source media=\"(max-width: 1440px)\" type=\"image\/webp\" width=\"645\" height=\"441\" data-image-size=\"1060x600_xl\" ><source media=\"(max-width: 1440px)\" width=\"645\" height=\"441\" data-image-size=\"1060x600_xl\" ><source type=\"image\/webp\" width=\"1060\" height=\"725\" data-image-size=\"1060x600\" ><source width=\"1060\" height=\"725\" data-image-size=\"1060x600\" ><\/picture><figcaption itemprop=\"caption\">Earl Blumenauer, Rep.<\/figcaption><p>Susan Walsh, AP Photo<\/p>\n<\/div>\n<\/figure>\n<\/div>\n<p>According to the Wednesday filing, Blumenauer&#8217;s wife&#8217;s also sold First Republic Bank shares worth up to$ 15,000 on March 20. As the commercial sector fretted about market volatility following the demise of SVB and Signature Bank, the San Francisco-based banks secured$ 30 billion in reserves from 11 significant U.S. institutions, including Wells Fargo and JPMorgan Chase, on March 16.<\/p>\n<p>The FDIC <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/svb-collapse-fdic-liquidate-silicon-valley-signature-bank-securities\" target=\"_blank\" rel=\"noopener\">announced<\/a> on Wednesday that it is now hiring a financial advisor to monitor the extermination of roughly$ 114 billion in assets it acquired when it took over Signature and Silicon Valley businesses. On May 1, the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/federal-reserve\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> will make public its assessment of Site monitoring and regulation, the organization <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/svb-collapse-fdic-liquidate-silicon-valley-signature-bank-securities\" target=\"_blank\" rel=\"noopener\">announced<\/a> in March.<\/p>\n<p>Before the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/biden-administration\" target=\"_blank\" rel=\"noopener\">Biden administration<\/a> announced it would pay the company$ 290 million for drug supplies, the Foundation for Accountability and Civic Trust, a right-leaning watchdog, demanded an investigation into Kirkpatrick&#8217;s healthcare&#8217;s stock purchase in November 2022. That problem was the direct result of a <i><a href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/democratic-lawmakers-wife-biotech-biden-stocks\">Washington Examiner<\/a><\/i> article outlining Blumenauer&#8217;s position&#8217;s on the health subcommittee of the Ways and Means Committee, which is in charge of programs related to healthcare.<\/p>\n<p>Blumenauer was covered in a thorough <i>New York Times<\/i> article from September 2022 that discussed potential stock trading conflicts of interest for politicians. On the same day that Russia invaded Ukraine, he disclosed 31 property purchases, some of which involved the defence company Raytheon.<\/p>\n<p><b><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\">TO READ MORE FROM THE WASHINGTON EXAMINER, Press HERE.<\/a><\/b><\/p>\n<p>A Blumenauer representative at the time informed <i>Insider<\/i> that his financial advisors had bought some store on his behalf due to a miscommunication. He instantly ordered it sold( at a loss ) and gave clear instructions that he should not have any personal property after being informed of this.<\/p>\n<p>The Washington Examiner asked for comment, but neither Kirkpatrick nor Blumenauer&#8217;s position responded.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Rough timing: Lawmaker&#8217;s wife bought SVB stock one day before bank collapse A Democratic congressman&#8217;s wife purchased a hefty amount in Silicon Valley Bank stock just one day before its historic collapse, which has seen the stock tumble by over 95%, a financial disclosure shows. Rep. Earl Blumenauer (D-OR) has frequently disclosed that his wife<\/p>\n","protected":false},"author":1,"featured_media":1911625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[5373,10627,7385,7660,6244,3673,12324,8107,4359,8109,4410],"class_list":["post-1911624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bank","tag-bought","tag-collapse","tag-day","tag-dem","tag-lawmakers","tag-oops","tag-silicon","tag-stock","tag-valley","tag-wife"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1911624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1911624"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1911624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1911625"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1911624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1911624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1911624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}