Tom Price’s Insider Trading ~ Another Case of White Male Privilege

By Lynda Lamp

While researching an article I was writing earlier, I stumbled across some interesting information about Tom Price. According to a Vanity Fair report sourced by the Wall Street Journal, Tom Price, Health and Human Services Secretary:

“traded more than $300,000 in shares of health-related companies over the past four years while sponsoring and advocating legislation that potentially could affect those companies’ stocks.” Subsequent reports fingered Price for getting “a sweetheart deal” on a biotech investment and for introducing legislation to benefit a medical company that he had invested in and that later contributed to his campaign.”

What caught my eye immediately is that $300,000 figure which matches up rather nicely with the reports that Tom Price has spent that much on private jet travel since May as he has traveled around the country advocating for the repeal of ACA and crowing about the opioid crisis.

Didn’t Martha Stewart spend time in prison for something similar? In fact, Martha spent time for lying and obstructing justice but the lies and obstruction revolved around her insider trading, which is no different from what Tom Price engaged. What got Martha in trouble wasn’t the insider trading but the fact that she got caught selling a stock before it tanked in value. That move saved her less than $45,000 that she would have lost if she’d waited. It seems a pittance compared to the $300,000 Mr. Price made for himself. No one is prosecuting him for insider trading, yet Martha had to spend five months in a minimum-security prison, five months under house arrest and another 19 months of probation for lying about saving herself less than $45,000?

Something is desperately wrong with this picture. Why is it ok for Tom Price to make hundreds of thousands of dollars in stock trades that he gained knowledge about through his position as a Congressman?

I had been wracking my brain; I felt as if the answer was right in front of me and then suddenly the light bulb went off!

Martha Stewart is a woman!

Bingo.

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