Senator Elizabeth Warren picked up where Senator Patty Murray left off this morning when it came to her time to question HHS nominee Rep. Tom Price on his investment habits, and specifically, his insider trading on health stocks.
To review, Tom Price, while a Representative, bought stock in a company called Zimmer Biomet. Price would have been quite familiar with Zimmer, since they are one of the largest manufacturers of medical devices for knee and hip replacements in the country, and he is an orthopedic surgeon.
Warren drilled right down to the core. Here's the exchange.
"Did you buy the stock and introduce a bill that would be helpful to the company you just bought stock in?," she asked.
Price stonewalled. "The stock was bought by a broker who was making those decisions. I wasn't making those decisions."
"You said you weren't making those decisions. Let me just make sure that I understand. they are listed under your name. These are your stock trades."
"They are made on my behalf.
"Was it purchased through an index fund?"
"I don't believe so."
"A mutual fund?"
"It's a broker-directed account."
"Through a blind trust? Let's just be clear. This is not just a stockbroker, someone you pay to handle the paperwork. This is someone who buys stock at your direction. This is someone who buys and sells the stock you want them to buy and sell."
"Not true."
"So when you found out --"
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