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The French Connection: Trump Family Trusts Are Invested in Hydroxychloroquine Maker
Colin Kalmbacher
4/7/2020
According to a Monday night report by the New York Times, Trumps family stands to benefit from widespread use of the drug. Per that report:
According to Trumps 2019 Executive Branch Personnel Public Financial Disclosure Reports filed with the U.S. Office of Government Ethics, the 45th presidents three family trusts each have two line item entries describing investments between $1,001 and $15,000 apiece in the Dodge & Cox International Stock Fund.
The Times notes that Sanofi, the drug manufacturer, is the mutual funds largest individual holding. According to MarketWatch, the exact size of the funds stake in Sanofi at last check was 3.3%.
Marketwatch also notesand shrugs offadditional Sanofi stakes:
The iShares Core MSCI EAFE ETF IEFA, 1.721% has 0.67% of its holdings in Sanofi, and Sanofi is a 0.78% holding for the iShares MSCI EAFE ETF EFA, 1.660%, which is neither surprising nor notable, in that the French drug maker is so large.
Aside from Trump and his familys personal stake, at least two of Trumps closest political allies are closely connected to Sanofi as well.
Republican mega donor and billionaire Ken Fisher runs Fisher Asset Management, one of the drug manufacturers largest shareholders.
According to Federal Election Committee (FEC) data compiled by OpenSecrets, Fisher Investments has contributed in excess of $2 million to GOP organizations and politicians over the past five election cycles.
more...
https://www.msn.com/en-us/news/politics/the-french-connection-trump-family-trusts-are-invested-in-hydroxychloroquine-maker/ar-BB12he2q
Kid Berwyn
(14,876 posts)https://www.forbes.com/sites/lisettevoytko/2020/04/07/trump-has-small-distant-link-to-sanofi-french-drugmaker-of-hydroxychloroquine/#6597d5167260
And very, very bad.
crickets
(25,962 posts)ProfessorGAC
(64,995 posts)The numbers in this article are clear.
Even if they double their investment it's still small potatoes.
There are better conflict of interest issues to pound on. Like the hyperinflated costs to secret service at PINOs resorts, in direct violation of emoluments prohibitions.
DrToast
(6,414 posts)It's one of many stocks in a mutual fund.
ProfessorGAC
(64,995 posts)Plenty of other things to beat on.
babylonsister
(171,056 posts)ProfessorGAC
(64,995 posts)But, it's an old, low margin drug, and there's no real run on it (after a hot week or two) because multiple studies show it's definitely NOT a magic bullet.
It's just another low margin drug.
Like ampicillin. Easy to make, but not a huge profit margin.
Cicada
(4,533 posts)I dont know 95% of the companies my mutual fund owns. No one, with few exceptions, know what companies their mutual fund owns.
EndlessWire
(6,509 posts)although I think he said he had divested his stocks, but:
It ain't small potatoes (you know, with guards) when POTUS is out there addressing the nation on the magic of this drug that he has stock in. He is urging people to take a drug that regularly trained docs are telling people to stay away from, that it doesn't work as a preventive medicine.
He's crossed the line. I recall the first couple that followed his advice. They are dead now.