Grifters Gotta Grift

The U.S. Lab for Bad Policy

Ah, Texas, you got another one:

Rep. Pat Fallon of Texas failed to properly disclose as much as $17.53 million in stock trades

Fallon was tardy disclosing 93 stock trades he made between mid-January and mid-April. Some disclosures arrived about a month late. Others were up to four months late.

Tardy?! Tardy is not being in the classroom when the bell finishes ringing.

Fallon bought and sold the shares of 14 companies in the first four months of 2021, according to a disclosure he filed with the clerk of the House of Representatives on June 17.

The companies were Inc., American Airlines Group Inc., Apple Inc., Applied Materials Inc., Boeing Co., Caterpillar Inc., Chevron Corp., Facebook Inc., FedEx Corp., Microsoft Corp., PayPal Holdings Inc., UnitedHealth Group Inc., Verizon Communications Inc., and the Walt Disney Company.

Of particular note is Boeing, the aviation and defense contracting giant. Fallon is a member of the House Armed Services Committee, which conducts oversight of the government’s relationship with defense contractors and frequently debates Boeing’s various military aircraft and weapons systems.

He bough shares of a company that his committee oversees, but you know, he was only tardy in reporting those buys/sells. How much was he tardy in reporting?

Fallon purchased $300,000 to $750,000 worth of stock in Boeing from January to April. He sold $219,000 to $610,000 worth of Boeing stock during this period as well. Members of Congress are required to report stock trade values only in broad ranges.

This is pretty much exactly what former Senators/grifters Kelly Loeffler and David Perdue did, and maybe Rep. Fallon should leave office, too. Come-on, Texas, you can do better than this.

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2 Responses to Grifters Gotta Grift

  1. Martin Pollard says:

    Apparently, the Terrible Oil Kingdom of Texaslovakia can’t do better than this.

    Liked by 6 people

  2. Dennis Cole says:

    Sorry, but our congress-critters can no longer survive on the measly, paltry salary they’re paid these days. Why, it’s not even CLOSE to their “$400,000 Middle-class” bracket! So how can we fault them for showing a little initiative, and demonstrating how the Market can work to our advantage, too!

    (Well, it would if we all had a few million for a grubstake…)

    Liked by 2 people

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