Press Release from NYS GOP Chairman Ed Cox.
Made Killing Off Housing Collapse
Now New York’s Junior Senator Says She is a Champion of Congressional Inside Trading Reform!
Albany, NY – January 31…When New York’s junior senator Kirsten Gillibrand (D-WFP) was a member of Congress – and privy to inside information on a plethora of topics – her husband “shorted” housing stocks at least 34 times , making a financial killing for the couple, as millions of Americans saw the value of their homes abruptly plummet. The Gillibrand’s timing in betting against the housing market was conspicuously perfect, the New York State Republican Party today noted.
Now, Senator Gillbrand is purporting to be a champion of reform against “insider trading” among members of Congress – using the issue to raise money for her re-election campaign. In a fundraising email blast released Monday, Ms. Gillibrand writes:
“I introduced the STOCK Act in November after a 60 Minutes report first exposed the issue of insider trading in Congress. This bill would stop it once and for all, because no member of Congress should unfairly benefit from information they gain from their work as lawmakers. Americans have a right to know that their elected officials are playing by the same rules as they are.”
“Senator Gillibrand and her husband profited handsomely off the collapse of the U.S. housing market, and she never adequately explained where they got the special insight to make those profitable bets,” said State GOP Chairman Cox. “Not a lot of ordinary Americans knew to bet against the housing markets; Ms. Gillibrand needs to finally answer whether what she learned in Congress about the imminent collapse of the market had anything to do with her husband shorting housing stocks. In purporting to be a champion of insider trading reform – in a fundraising appeal no less – Ms. Gillibrand may be being too cute by half. This may not pass the smell test.”