Yesterday we told you about CNN’s reporting that Trump’s HHS pick, Tom Price, bought stock in a company and then immediately tried to introduce legislation to help that company.

They made it sound like Price was doing something unethical and tawdry to help himself get rich or something.







Well today Jay Caruso over at Red State debunks this story that Tom Price did anything wrong, calling CNN’s reporting just lazy:

First, do you know how many shares Price purchased (more on that in a moment)? Twenty-six. I was awarded more shares of Home Depot stock each year when I worked there than this. If Tom Price was trying to make a quick buck, this certainly was not the way to go about it. If thousands of shares were purchased, I could see raising a stink about it but twenty-six shares? Stop. Second, the idea that Tom Price bought the stock and was immediately opposed to Centers for Medicare and Medicaid Services (CMS) regulation is incorrect. CNN failed to note; Representative Price was on record in September of 2015 being opposed to the rule. A letter addressed to Andrew Slavitt, the acting administrator for CMS and Dr. Patrick Conway, Chief Medical Officer for CMS is dated September 21, 2015. Scroll to the bottom, and the first signature you’ll see is Tom Price, MD. Finally, Representative Price, like many people, have financial advisors who are given the discretion to make investments, including stock purchases and sales on their behalf. That is what happened in this case. Dr. Price’s Morgan Stanley financial advisor directed all trades in the account. This particular investment was part of what is known as a rebalancing of a portfolio. It happens all the time to provide the widest investment diversification as possible to alleviate risk. This is a story that is attempting to create a scandal where one does not exist. It’s a perfect example of lazy reporting.

Well there you go, CNN is reporting more fake news. And because of this Price will undoubtedly have to explain this to Senators who will most certainly want to pick it apart and make more scandal out of it.

Kudos to Jay Caruso for digging deeper to debunk this story.