Colorado U.S. Sen. Michael Bennet’s new campaign ad launched Wednesday claims the Democrat is working hard to stop his fellow senators and congressman from profiting off insider knowledge and cashing in on personal stock trades.
It comes on the heels of revelations that House Speaker Nancy Pelosi’s husband bought $1 million of stock in a computer chip company just weeks before the House moved this week to vote on billions in subsidies for the semiconductor industry.
So whatever Bennet claims he’s been hard at work on, it obviously isn’t working at all.
Also, Bennet supports throwing billions of dollars in subsidies towards the Pelosi’s new investment:
Today we are dangerously reliant on foreign manufacturers for advanced semiconductors — the chips needed for our smartphones, cars, and farm equipment.
We need to pass the emergency chips funding so we can make these semiconductors in America & strengthen our national security.
— Michael Bennet (@SenatorBennet) July 21, 2022
Members of Congress won’t even follow the law on the books that was supposed to stop insider trading, including Colorado’s U.S. Sen. John Hickenlooper and U.S. Rep. Ed Perlmutter, reports Business Insider.
Insider and several other news organizations have identified 66 members of Congress who’ve recently failed to properly report their financial trades as mandated by the Stop Trading on Congressional Knowledge Act of 2012, also known as the STOCK Act.
Congress passed the law a decade ago to combat insider trading and conflicts of interest among their own members and force lawmakers to be more transparent about their personal financial dealings. A key provision of the law mandates that lawmakers publicly — and quickly — disclose any stock trade made by themselves, a spouse, or a dependent child.
Hickenlooper and Perlmutter are repeat offenders.
Bennet’s campaign dropped about $600,000 to air the ad, which has got to make for some awkward cocktail party conversation at all the big Democrat fundraisers this season.
With the red wave coming this November that’s expected to knock a lot of incumbents out of office, it’s every Democrat for himself, for now.
As for not taking PAC money, well:
Bennet’s brag about stopping members of Congress from becoming lobbyists also needs a fact check.
Michael Bennet: All talk, no action.
For twelve years, Bennet has promised to fix a broken Washington.
Washington broke him. pic.twitter.com/vDDG1mQaN6
— Joe O’Dea (@ODeaForColorado) July 21, 2022