Anti-Medicaid / -Ocare / -Poor People Pick for HHS Involved in Shady Bio-Tech Stock Deal – NYTimes

HHS pick Rep Tom Price and other RPB DC cronies have QUINTIPLED THEIR PAPER PROFITS from Innate Immunotherapeutics – a company with no approved drugs

Of the many dirtbags Trump has tapped for his Cabinet, perhaps the worst is Tom Price for Health and Human Services.

An avowed enemy of Medicaid — and author of a detailed plan to leave poor and working-class people with nothing once Obamacare is repealed —

Price has now been “outed” for his investments in an Australian bio-tech firm that has produced no approved drugs —

but plenty of paper profits for Price and his sleazy DC RPB buddies.

“Despite its unremarkable profile, Innate has some surprisingly influential boosters in Washington.

The congressional liaison to Trump’s transition team, NY RPB Rep. Chris Collins is the company’s largest shareholder and sits on the board.

According to congressional financial disclosures, Rep. Tom Price of Georgia, Trump’s nominee to be secretary of health and human services,

purchased shares of Innate FOUR TIMES in 2015 and 2016, totaling between $60,000 and $110,000.

Other Washington power players with investments in the company include

Michael Hook, Collins’s chief of staff, who is a top shareholder, and

Bill Paxon, a Washington lobbyist and former congressman, according to company filings and congressional financial disclosures.

Last summer, Price, Hook and Paxon BOUGHT THE STOCK AT A DISCOUNT

AS PART OF A PRIVATE OFFERING organized by Innate aimed at “sophisticated U.S. investors.”

They have SINCE QUINTUPLED THEIR MONEY — at least on paper.

Price’s investments in health care companies, including Innate, are almost certain to be a focus of questioning during his confirmation hearings next week” —

if the pathetic Senate Democrats can manage to actually do anything …

We’ll see …

Source: Australian Drug Maker Has Low Profile but Powerful Backers in Washington – The New York Times