Sen. Josh Hawley (R-MO) plans to introduce a bill that would prevent members of Congress from trading individual stocks. . .
Josh Hawley Plan Bans Congress from Trading Stocks: ‘Stop Turning Blind Eye to Washington Profiteering’https://t.co/8nkPi6WHpg
— Abigail Marone 🇺🇸 (@abigailmarone) January 14, 2022
. . .and that’s something Kansas City Star columnist Dave Helling is very supportive of:
Josh Hawley has it right: Members of Congress shouldn’t be playing the stock market https://t.co/g9lo3DzmDM pic.twitter.com/QBNvaf2zoL
— Dave Helling (@dhellingkc) January 14, 2022
But a few hours after the above tweet, Helling followed it up with this incoherent attack on Hawley for owning a mutual fund:
So.. as we reported.. Sen. Hawley owns shares in a mutual fund called Fidelity Contrafund, according to his last PFD. 10% of the fund's assets are invested in Facebook/Meta, per latest SEC filing, more than any other single stock.
FB owns Instagram. https://t.co/YZGzDq7CS2 https://t.co/FGK13jQkbV— Dave Helling (@dhellingkc) January 14, 2022
Fidelity Contrafund owned 41.9 million shares of FB in last report, worth $14.5 billion.
When Facebook profits, so does Josh Hawley.— Dave Helling (@dhellingkc) January 14, 2022
Does Helling realize that in his example Hawley is actually working against his own financial interests?
Eh, it's a mutual fund. Meaning that he isn't trading individual stocks. And what's the story supposed to be, that he's supportive of bipartisan legislation that would weaken companies the fund invests in — that he's acting *against* financial interest? https://t.co/Pdx7JZilO5
— Zaid Jilani (@ZaidJilani) January 14, 2022
What an incredible self-own:
Do you know what a mutual fund is?
— Max (@MaxNordau) January 14, 2022
And it’s even worse if this particular fund is in Hawley’s 401k:
Dave, do you know what a 401k is?
— Christina Pushaw 🐊 (@ChristinaPushaw) January 14, 2022
Hawley press secretary Abigal Marone fired back, tweeting “This is why no one takes the Star seriously”:
The Hawley's don't own stock. Their savings is in mutual funds – the same as millions of Americans.
Pelosi gets rich trading stock. Hunter Biden exploits his dad's name abroad for millions.
But investing in mutual funds is news? This is why no one takes the Star seriously 🙄 https://t.co/YytNzY4kiL
— Abigail Marone 🇺🇸 (@abigailmarone) January 14, 2022
It is up there:
Perhaps one of thr more horrifyingly insane self owns I've ever seen. https://t.co/Pd3zPBBTFR
— Jaxon Garlitz 🍊 (@GarlitzJaxon) January 14, 2022
This is *EXACTLY* what many want politicians to do:
This is supposed to be some kind of gotcha but ends up looking moronic. Nice journalisming. The majority of people want politicians to only have mutual funds and no involvement in direct stock purchases and ownership. https://t.co/fyYjWdNmHQ
— Flash Gordon (@ldsgolfer13) January 14, 2022
Exit question: Does he want journos to disclose their mutual fund holdings, too?
While some politicians are making a fortune gaming the market, here’s what @KCStar is focused on.
Millions of Americans are invested in mutual funds, including your reporters. Will you disclose that when you cover these companies? https://t.co/eVrF5ixMWp
— Philip Letsou (@philipletsou) January 14, 2022
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