- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Trump CDC Director Brenda Fitzgerald resigns after report she invested in tobacco stocks
Posted on 1/31/18 at 10:10 am
Posted on 1/31/18 at 10:10 am
It appears CDC leadership has taken another hit.
Tom Frieden, Obama's CDC Director, was an abject imbecile.
Yet his Trump appointed successor may have done him one better.
. . . until this pearl:
At an investment level $1K-$15K, any potential return was going to be small compared to risk of exposure. Couple that with the fact Japan Tobacco was a lousy security purchase in the first place, and it's a real headshaker.
Tom Frieden, Obama's CDC Director, was an abject imbecile.
Yet his Trump appointed successor may have done him one better.
quote:Sounds simple enough . . .
Health and Human Services Secretary Alex Azar, who was sworn in earlier this week, announced the resignation in a brief statement.
The statement said that Fitzgerald owns “certain complex financial interests that have imposed a broad recusal limiting her ability to complete all her duties as the CDC director.”
It said that Fitzgerald could not divest from them in a definitive time period, due to the nature of the investments. After advising Azar of the problem, she offered her resignation and he accepted.
. . . until this pearl:
quote:I don't know which is dumber, investment in tobacco as CDC Director, or the choice such a small amount in doing it.
According to Politico, after assuming her role at the CDC on July 7, Fitzgerald purchased between $1,001 and $15,000 of Japan Tobacco
LINK
At an investment level $1K-$15K, any potential return was going to be small compared to risk of exposure. Couple that with the fact Japan Tobacco was a lousy security purchase in the first place, and it's a real headshaker.
10
Posted on 1/31/18 at 10:12 am to NC_Tigah
Wow what an idiot.
That is so stupid that it can't even be malicious.
That is so stupid that it can't even be malicious.
Posted on 1/31/18 at 10:13 am to NC_Tigah
Did she invest directly, or was it a broker/fund that did it?
Posted on 1/31/18 at 10:13 am to DallasTiger11
quote:
That is so stupid that it can't even be malicious.
Yeah, that doesn't even make sense.
Posted on 1/31/18 at 10:14 am to NC_Tigah
She should have invested in a marijuana start up. She would have been praised and promoted.
Posted on 1/31/18 at 10:14 am to NC_Tigah
CDC Director buying tobacco stock.....about as stupid as it gets.
Posted on 1/31/18 at 10:15 am to DallasTiger11
Yeah, it sounds like a mutual fund investment... Or some other sort of spread around investment...
Posted on 1/31/18 at 10:15 am to udtiger
quote:
Did she invest directly, or was it a broker/fund that did it?
That was my thought. Probably her financial rep that made the investment on her behalf. Although, I recall my people usde to always ask me first anytime they were going to invest in something that one could potentially have moral objections (tobacco, guns, alcohol, etc)
Posted on 1/31/18 at 10:16 am to udtiger
quote:
Did she invest directly, or was it a broker/fund that did it?
Sounds like a direct investment. If you buy a fund all you have to report is what fund you own.
Now, some funds are subject to restrictions. For example, as a DoD employee I can buy a fund that tracks a specific index (like S&P 500), but I can't buy a fund that invests solely in defense contractors.
Posted on 1/31/18 at 10:20 am to NC_Tigah
What's the big deal?
Posted on 1/31/18 at 10:21 am to NC_Tigah
quote:
According to Politico, after assuming her role at the CDC on July 7, Fitzgerald purchased between $1,001 and $15,000 of Japan Tobacco, one of the largest such companies in the world. Records obtained under the Stock Act, which requires disclosures of transactions over $1,000, showed Fitzgerald sold the shares of Japan Tobacco on Oct. 26 and all of her stock holdings above $1,000 by Nov. 21, more than four months after she became CDC director.
So it was dumb to buy it to begin with and she should have sold it quicker. BUT:
If it was part of a complex transaction there is there good chance it was rolled up in a broader deal or index. And also a pretty good deal she didn't know about the individual stocks in the deal. And regardless she sold all of her stocks.
Sort of a dumb mistake, but you are really leaving out a big chunk of the story.
Posted on 1/31/18 at 10:23 am to BigJim
What’s wrong with her investment?
Posted on 1/31/18 at 10:25 am to BigJim
From the original Politico article:
quote:
HHS officials said Fitzgerald’s lengthy divestment process was due to her complicated stock portfolio. They declined to say whether she had any ethics training.
Posted on 1/31/18 at 10:31 am to NC_Tigah
So it's a nothingburger where she resigned just in case it was unethical. Sounds like it worked itself out.
Posted on 1/31/18 at 10:31 am to NC_Tigah
"I will hire the best people".
Posted on 1/31/18 at 10:32 am to NC_Tigah
I don't smoke but as long as it is legal, I see no problem with this. There are millions of fat doctors and fat nutritionists out there. I guess they should be forced to resign because they make poor eating decisions.
I get that it doesn't look great but as folks said, I would wager this was some form of blended fund and even if it wasn't I don't care. Tobacco is legal. And from the literature I've read, it has amazing health benefits.
Not a fan of cigarettes or smoking but either make them illegal or quit crying about it.
I get that it doesn't look great but as folks said, I would wager this was some form of blended fund and even if it wasn't I don't care. Tobacco is legal. And from the literature I've read, it has amazing health benefits.
Not a fan of cigarettes or smoking but either make them illegal or quit crying about it.
Posted on 1/31/18 at 10:35 am to BigJim
quote:Here's the problem:
So it was dumb to buy it to begin with and she should have sold it quicker. BUT:
If it was part of a complex transaction there is there good chance it was rolled up in a broader deal or index.
quote:
AFTER assuming her role at the CDC on July 7, Fitzgerald purchased between $1,001 and $15,000 of Japan Tobacco
If she owned the holdings prior to selection as CDC Director, you'd have a point.
This post was edited on 1/31/18 at 10:35 am
Posted on 1/31/18 at 10:38 am to NC_Tigah
I'm truly fascinated that we've become so stupid as a nation that this matters.
I don't invest to make you think I'm a good person.
I invest to make money.
Sure. I wouldn't invest in the slave trade. But, beyond that, it's on!!
I don't invest to make you think I'm a good person.
I invest to make money.
Sure. I wouldn't invest in the slave trade. But, beyond that, it's on!!
Posted on 1/31/18 at 10:40 am to ShortyRob
quote:In that case, it was still a poor decision.
I don't invest to make you think I'm a good person.
I invest to make money.
Posted on 1/31/18 at 10:41 am to Clyde Tipton
quote:
What's the big deal?
Mainly it's bad optics, but it could be argued that there is a conflict of interest.
Imagine if the Director of the CDC announced a transition of funds from research about negative effects of smoking to another initiative. It would look like it may have been due to her financial interests in tobacco.
Thin, I know, but it could cause some issues.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News