“When I asked Rep. Patrick McHenry last week why he would not co-sponsor the STOCK Act, a bill that would prohibit insider stock trading by members of Congress, he replied that the legislation was the creation of ‘liberal Democrats’ and not worthy of his support,” Fortenberry said.
“Restoring the public’s trust in government has never been a priority for McHenry, who turns everything into a petty partisan battle,” he added. “This is one of the reasons Washington is broken and not working for the people, and why we need to clean House on Election Day.”
“Members of Congress should play by the same rules as all Americans,” Fortenberry asserted. “McHenry is dead-wrong in putting his friends above the people he is supposed to represent.”
When asked for comment on these allegations, Ryan Minto, who handles press for the congressman’s office, offered a statement from McHenry to the Times-News on Tuesday.
“While I personally don’t trade stocks, I understand the concern over this issue,” McHenry said. “The STOCK Act does not address holes in the existing insider-trading law, which may allow lawmakers to improperly enrich themselves. It would not, for example, address the troubling practice of access to exclusive IPOs by high-ranking members.
“Members of Congress should have to report all of their stock trades publicly in every instance — period,” McHenry added. “Increased disclosure will add transparency to help enforce the current insider-trading law, and anyone guilty of committing a crime should be prosecuted.”
In his release, Fortenberry additionally stated that ethics and honesty in government should not be viewed as a partisan issue.
Furthermore, he also said he would introduce legislation, if elected, that would prohibit members of Congress and Cabinet-level officials from lobbying for four years after they leave their positions, in addition to requiring them to fully disclose all of their personal finances during that time period.
“It’s bad enough that Mr. McHenry ignores the shenanigans of the big banks and securities firms, but it’s made even worse when he turns a blind eye to the corruption among his colleagues,” Fortenberry concluded.
It's damn impressive to see with as many bank employees in the Charlotte suburbs of NC-10 that the Republican is attacking McHenry on being too friendly with banks and stocks. It's entirely true, of course. But it's interesting seeing the Republican challenger pull a Ron Paul and go after McHenry on this angle in arguably one of the reddest districts in the country.
We'll see how it turns out.
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