FAKE NEWS: CNN Reports Tom Price Bought Health Care Stock, Then Enriched Himself. Nope.
Last week, Democrats launched a full-scale media press for an investigation into potential Trump Secretary of Health and Human Services Rep. Tom Price (R-GA) for corruption. Why? Because according to Public Citizen, Price traded some $300,000 in health care stocks while presiding over regulation of the health care industry as chair of the House Budget Committee. Senator Patty Murray announced on Thursday, “I urge Republicans to work with us to make sure we have all the facts in front of us and they are fully reviewed before Congressman Price advances.”
This was all vague. But then the bombshell: according to CNN, Price invested in a health care company, then pushed legislation to drive up the stock price. Smoking gun! Dead to rights!
Here was the CNN report:
Price bought between $1,001 to $15,000 worth of shares last March in Zimmer Biomet, according to House records reviewed by CNN. Less than a week after the transaction, the Georgia Republican congressman introduced the HIP Act, legislation that would have delayed until 2018 a Centers for Medicare and Medicaid Services (CMS) regulation that industry analysts warned would significantly hurt Zimmer Biomet financially once fully implemented.
CNN then quoted a bevy of ethics experts saying that the situation was quite grave.
Price’s spokesman said that Price would submit all holdings information to the Office of Government Ethics, and that Price would abide by any rulings by the OGE.
So, the new narrative that Price bought stocks and then designed legislation to enrich himself isn’t true. It’s Fake News.