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☆ Kyrsten Sinema is still sitting on over $11 million in campaign cash — and she could easily use it to fuel her post-Senate life
  + stars: | 2024-03-11 | by ( Bryan Metzger | ) www.businessinsider.com   time to read: +8 min
At the end of January, the Arizona senator reported holding nearly $10.6 million cash on hand in her campaign account and another $466,000 in her leadership PAC. AdvertisementNow, it's far from clear what will happen to those "resources" — Sinema's campaign did not respond to Business Insider's request for comment last week on the matter. There are a few different ways this could play out if Sinema decides to keep a "zombie PAC" running. Elizabeth Warren and Michael Bennet once introduced a bill to crack down on "zombie PACs." Advertisement"A lot of people use that to stay in the game because a leadership PAC is kind of a slush fund.
Persons: —, What's Sen, Kyrsten Sinema, Ruben Gallego, Kari Lake, Sinema, Arizonans, Saurav Ghosh, Ghosh, That's, Republican Sen, Rob Portman, Portman, Matt Dolan, Anna Moneymaker, he's, Kelly Ayotte, who's, Aaron Scherb, it's, She'd, she'd, Democratic Sens, Michael Bennet of Colorado, Elizabeth Warren of, Elizabeth Warren, Michael Bennet, Bill Clark, Bennet, she's, airfare, Jordan Libowitz Organizations: Service, Senate, Democrat, Democratic Rep, Business, Bloomberg, Republican, American Enterprise Institute, US, Republicans, Democratic, Daily Beast, Citizen, Washington, Commission, PAC Locations: Arizona, Ohio, New Hampshire, Elizabeth Warren of Massachusetts, Washington, Europe
☆ Top government ethics officer was late disclosing his personal finances on multiple occasions
  + stars: | 2022-12-20 | by ( Kimberly Leonard | ) www.businessinsider.com   time to read: +9 min
The attorney, Office of Government Ethics General Counsel David Apol, missed deadlines to report at least 12 different bond transactions since 2015. Improperly reporting purchases and sales of bonds or stocks is a violation of the 2012 Stop Trading on Congressional Knowledge Act, or STOCK Act. Officials are only required to report transactions in broad ranges. Democratic Rep. Abigail Spanberger of Virginia has been one of the lead proponents in Congress of reforming the STOCK Act. Congress this year discussed changes to the STOCK Act and the US House even held a hearing following the publication of "Conflicted Congress."
☆ Nancy Pelosi's congressional stock trading ban has a massive blind trust loophole and is too broad, ethics experts warn
  + stars: | 2022-09-29 | by ( Bryan Metzger | ) www.businessinsider.com   time to read: +10 min
But ethics experts say the bill has a major loophole when it comes to blind trusts, and is too broad. Broadly speaking, a blind trust is a financial arrangement wherein people turn over their assets to be managed by an independent entity to prevent a conflict of interest. Several previously-introduced bills to ban stock trading allow for lawmakers to place their stocks into a blind trust, rather than fully selling off existing stock holdings. "You'd be able to create any kind of a trust you want to, put anything you want into it, and call it a blind trust, even though there wouldn't actually be any way to prove that it is, in fact, a blind trust." Payne also said the blind trust loophole was a "small risk," but that in an optimistic scenario, "that language allows this law to grow for future circumstances that you just can't be prepared for."
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