Sen. Blumenthal’s Family Splurged on Intel Stock Before He Voted for a Massive Subsidy Bill

Democratic Connecticut Sen. Richard Blumenthal disclosed in early March that an investment fund managed by his wife’s family purchased between $250,000 and $500,000 worth of Intel stock. A little over three weeks later, he voted for legislation handing billions in subsidies to semiconductor manufacturers that could benefit Intel.

The senator’s actions seem to indicate a conflict of interest, congressional watchdogs told The Daily Caller News Foundation. Blumenthal’s financial interests appear intertwined with companies he oversees, they said.

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Elizabeth Warren Urges More Regulation to Prevent ‘Dramatic Swings’ in Stocks Like GameStop

Senator Elizabeth Warren called for an SEC investigation into Reddit posts and other entities, according to a letter she sent to the Acting Chair of the SEC.

After Redditors discovered large hedge funds had shorted massive quantities of GameStop ($GME), retail investors bought $GME in a frenzy, sending it surging  600%, and causing hedge funds to lose approximately $5 billion dollars. Popular investment platforms such as Robinhood responded by halting the ability of investors to freely purchase more shares, making their only option to sell.

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