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The Senate and Pharmaceutical Stock
Can you believe that 42 U.S. Senators hold stock in pharmaceutical companies and have the authority to vote on legislation that benefits the drug industry? An analysis of Senate personal financial disclosures reveals that 42 senators -- 27 Republicans and 15 Democrats -- held pharmaceutical stock worth between $8.1 and $16 million in 2004. These senators profited an additional $2.5 to $7.2 million in capital gains and dividends from drug company stocks. Two senators' spouses were also on the payrolls of pharmaceutical companies. This is a conflict of interest that could put profits ahead of the good of the people. Given the track record of pharmaceuticals in doing such, Senators and Congressmen with drug stocks should not be allowed to vote on such matters where such conflicts would exist.
http://www.consumerwatchdog.org/resources/SenPharma.pdf http://releases.usnewswire.com/GetRelease.asp?id=58052
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