What Tom Says
“This is not the time for anybody to be profiting off of selling ventilators, vaccines, drugs, treatments, PPE (personal protective equipment), anywhere in the world…” (MSNBC, 4/13/20)
What Tom Does
Traded millions of dollars of stocks, including up to $1 million in medical and tech companies since the pandemic began, and failed to properly disclose those trades. (The Associated Press, 5/21/21)
Bet Against Small Businesses
As the economy crashed and businesses shut down in the early days of COVID-19, Congressman Tom Malinowski wasn’t rooting for small businesses to succeed. Instead, Malinowski was betting against American companies in the markets and hoping they’d fail, all so he could turn a quick buck. A blistering report from the Associated Press revealed, Malinowski became a “prolific short seller” and bet as much as $230,000 against US companies in 2021 alone.
Chased Profit as New Jerseyans Died
“As pandemic spread pain and panic, congressman chased profit” (5/21/21)
With small businesses shutting their doors, workers facing mass layoffs, and patients overrunning hospitals, Tom Malinowski was looking out only for his bottom line.
The same Associated Press report revealed that as the markets crashed, Malinowski was working overtime to line his own pockets. Records show Malinowski traded “as much as $1 million of stock in medical and tech companies that had a stake in the virus response,” making himself millions as New Jersey families lost their lives and their livelihoods.
Hid It from Voters Until After His Reelection
Malinowski “failed to publicly disclose dozens of personal stock trades” even as “Malinowski’s stock-trade frequency peaked in March 2020 as the COVID-19 pandemic gripped the United States and caused the stock market to plummet.” (3/4/21)
What’s worse? Tom Malinowski failed to report his shady stock trades as required by the law – until well after his re-election, preventing voters from holding him accountable.
Despite federal law requiring him to disclose his stock trades, Malinowski’s reports remained unfiled for months, even as he traded millions on Wall Street.
Not hard to see why: Tom Malinowski didn’t want voters to know he was profiting off their pain.
Multiple Ethics Violations?
“Democratic Rep. Tom Malinowski Is Hit With Two Congressional Ethics Complaints Following Insider’s Report That He Didn’t Disclose Dozens Of Stock Trades” (3/8/21)
Congressman Malinowski’s hypocritical trading was so egregious, he earned the scorn of multiple watchdog organizations and independent ethics experts. Two separate independent ethics watchdogs have filed complaints and called for a full investigation into the matter by the Office of Congressional Ethics. Another ethics expert called Malinowski’s trades “a huge conflict of interest and not an acceptable situation.”
What’s clear? All Tom Malinowski is looking out for, is himself.
Malinowski Doubles Down
“Rep. Tom Malinowski continues to aggressively trade stocks despite a congressional ethics investigation” (6/21/21)
Despite multiple ethics complaints, Malinowski doubled down on his shady trades, continuing to buy and sell hundreds of thousands of dollars in stocks well after reports of his behavior became public.
Tom Malinowski learned nothing from his scandal: for him, personal profit comes ahead of his ethical obligation to his constituents.