Author Topic: Top Biden adviser's multimillion-dollar divestment 'still in process' after four months  (Read 417 times)

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Offline mountaineer

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Top Biden adviser's multimillion-dollar divestment 'still in process' after four months
by Katherine Doyle, White House Reporter
September 14, 2022 06:00 AM
Quote
President Joe Biden’s close adviser Anita Dunn has not divested herself of a sprawling investment portfolio estimated to be worth millions of dollars since returning to the White House, raising concerns from a top ethics attorney.

The White House said in August that Dunn would divest her holdings and recuse herself from all matters involving the Democratic consulting firm she founded and her past clients.

With her husband, Bob Bauer, White House counsel under former President Barack Obama, Dunn holds a diverse stock portfolio ranging in value from $16.8 million to $48.2 million, according to an estimate by CNBC. It includes corporate bonds issued by companies subject to regular federal oversight and call and put option contracts on the S&P 500, municipal and corporate bonds, and individual stocks for biopharmaceutical, telecommunications, technology, and energy giants. Her salary from SKDK, a corporate consulting firm and major political vendor, was $738,715.

Yet four months into her tenure, Dunn’s portfolio divestment is “still in process,” according to a White House official who said the adviser is “taking all necessary steps to do so.”

Dunn “has the appropriate recusals in place” in the meantime, the official said.

Asked whether Dunn had sold any of her publicly traded assets, the official did not respond.

At dozens of pages long, Dunn’s filing holds a litany of possible conflicts of interest, with the delay posing major concerns, said Walter Shaub, director of the Office of Government Ethics under Obama and briefly under former President Donald Trump.

“That’s an outrageously slow pace for divestitures,” Shaub told the Washington Examiner. “Presidential nominees requiring Senate confirmation get 90 days, with the expectation that they’ll try to accomplish divestitures sooner. It should be the same for White House appointees, especially in the case of someone like Dunn, who entered government with a massive portfolio of potentially conflicting investments.” ...
More at Washington Examiner

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Offline MajorClay

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$748k for "consulting"

Offline MajorClay

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738 sorry