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Lois Frankel

All articles tagged with #lois frankel

politics2 years ago•4 min saved

"First Republic's Demise: A Lesson in Risk and Reward"

Florida congresswoman Lois Frankel sold her First Republic stock on March 16 while the share price was tanking then purchased stocks in JPMorgan on March 22, weeks before it took over First Republic. The transactions are revealed in financial disclosures which say the value of the stocks in both instances was between $1,001 and $15,000. The revelations have placed renewed scrutiny on lawmakers over their trading. A bipartisan bill was introduced by Alexandria Ocasio-Cortez and Matt Gaetz to ban stock trading by members of Congress.

via Daily Mail|

#bipartisan-bill #first-republic-bank #jpmorgan-chase

politics2 years ago•1 min saved

"Congresswoman's Stock Move Reflects Wall Street's Uncertainty Over Regional Banks"

Democratic Congresswoman Lois Frankel sold First Republic Bank stock before its collapse and bought JPMorgan stock just before JPMorgan purchased First Republic, according to a financial disclosure report. Frankel's account is managed independently by a money manager who buys and sells stocks at his discretion. Members of Congress are prohibited from knowingly trading, buying, or selling stocks based on material information obtained in their official capacity. Compliance with the law has been sporadic given the lack of enforcement mechanisms. There have been efforts to strengthen the law, including the reintroduction of the TRUST in Congress Act, which would ban members of Congress and their families from trading individual stocks.

via CNN|

#congress #first-republic-bank #jpmorgan