Democrat Rep. Dan Goldman Sold up to $15,000 in Bank Stock Two Days Before Value Plummeted

Democrat Rep. Daniel Goldman (NY) sold up to $15,000 worth of stock in PacWest Bancorp just two days before the bank’s stock took a significant plunge, according to his financial disclosures.

Goldman sold his PacWest Bancorp stock on March 6, when the institution’s stock was valued at $27.40. However, the value plummeted two days later amid news of Silicon Valley Bank’s failure.

PacWest Bancorp’s stock is currently valued at $3.42, a decline of more than 87 percent, as the Washington Free Beacon noted.

Goldman, one of Congress’ most prolific stock traders, represents New York’s 10th congressional district, which encompasses the New York Stock Exchange. He has an estimated net worth of up to $253 million.

The self-described “strong advocate for anti-corruption,” made headlines last month after his financial disclosures revealed he made close to 500 stock trades since entering office in January, despite previously pledging to form a “blind trust” to shield himself from financial conflicts of interest.

Some of his stock trades include companies in the defense and financial sectors.

As Breitbart News previously reported:

For example, Goldman purchased up to $15,000 worth of shares in Credit Suisse Group, “the troubled Swiss bank that congressional investigators have recently accused of helping Americans commit tax fraud,” according to Raw Story.

He purchased up to $50,000 in Lockheed Martin Corporation and L3Harris Technologies. Goldman also sold up to $50,000 each in both Raytheon Technologies Corporation and Northrop Grumman Corporation. He also sold between $100,000 and $250,000 in Tesla stock before rebuying up to $50,000 of it.

After reports about Goldman’s trade in PacWest Bancorp were published, his spokesperson Simone Kanter told the Free Beacon the congressman’s stock trades are “managed entirely by an investment adviser, with whom he has no discussions about any stock trades since entering Congress.”

Kanter also said Goldman “initiated the complicated process of entering into a blind trust” when he was sworn into office.

Earlier this week, Reps. Alexandria Ocasio-Cortez (D-NY) and Matt Gaetz (R-FL) teamed up to introduce legislation to prohibit members of Congress from trading stocks.

“AOC is wrong a lot, she’d probably say the same thing about me, but she’s not corrupt,” Gaetz said. “And I will work with anyone and everyone to ensure that Congress is not so compromised.”

Ocasio-Cortez did not respond to Breitbart News’ request for comment on Goldman’s recently disclosed stock trades.

Kanter previously said Goldman “supports legislation that would prohibit members of Congress from trading individual stocks.”

In 2011, Breitbart News senior contributor and Government Accountability Institute (GAI) President Peter Schweizer rocked official Washington with his investigative revelations of insider trading by members of Congress. Left-leaning Slate hailed Schweizer’s blockbuster book on the topic, Throw Them All Out, “the book that started the STOCK Act stampede.” The bipartisan STOCK Act (Stop Trading on Congressional Knowledge) banned insider trading by members of Congress and was signed into law by President Barack Obama on April 4, 2012. The legislation received overwhelming support from both parties.

One of the main figures featured in Schweizer’s Throw Them All Out, then-chairman of the House Financial Services Committee Spencer Bachus (R-AL), announced he would not seek reelection after the book’s reporting. Indeed, Bachus was the only elected official the late Andrew Breitbart ever called on to resign. CBS’s 60 Minutes did an investigative report on Schweizer’s revelations that won them the Joan Shorenstein Barone Award for excellence in Washington-based journalism.

Jordan Dixon-Hamilton is a reporter for Breitbart News. Write to him at jdixonhamilton@breitbart.com or follow him on Twitter.