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Bresnahan Says He’ll ‘Go Broke’ Rather Than Halt Advisers’ Stock Trades

Negotiations over a blind trust collapsed under House Ethics rules; he introduced a trading ban despite advisers continuing to manage his stock portfolio.

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Overview

  • He said he would “lose money and go broke” if he directed advisers to halt trades and argued he has no involvement in their decisions.
  • His effort to establish a blind trust stalled after the House Ethics Committee rejected his demand to retain current advisers and impose investment restrictions.
  • He has introduced a bill to ban stock trading for members of Congress and their spouses despite allowing adviser-led trades to continue.
  • The Democratic Congressional Campaign Committee accused him of hypocrisy, saying he values his bottom line more than his constituents’ interests.
  • A Senate committee advanced a separate ban bill and Rep. Anna Paulina Luna said she will file a discharge petition to force a House vote.