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Top New York lawmakers run afoul of federal STOCK Act

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Top New York lawmakers run afoul of federal STOCK Act

A string of top New York pols ran afoul of a law requiring federal lawmakers to disclose their stock trades in a timely manner, a review of records by The Post shows.

The 2012 Stop Trading on Congressional Knowledge Act requires disclosure of all equity trades by members of Congress within 45 days. The STOCK Act is intended as a check against members engaging in insider trading, or buying and selling stocks based on information that isn’t available to the public.

The penalties for Stock Act violations are small — typically $200 for a first offense.

Some believe members of Congress should be banned from trading entirely — including AOC.

“Members of Congress should not be trading individual stocks, period. It’s wrong,” Rep. Alexandria Ocasio-Cortez told The Post.

“If a member wants to invest, there are plenty of tools at their disposal to do that without actual or appeared conflict of interest, like general index funds or the same retirement savings accounts extended to us as other federal employees and military,” the Queens Democrat added.

Rep. Alexandria Ocasio-Cortez believes members of Congress should be banned from trading entirely.
Getty Images

House Democratic boss Nancy Pelosi defended bloated member stock portfolios in a press conference Thursday. “We’re a free-market economy,” Pelosi told reporters. Members of Congress “should be able to participate in that.”

Leading the pack of Empire State violators was Rep. Tom Suozzi (D-Glen Cove). From 2017 to 2020, the congressman — now aspiring to be governor — made roughly 300 stock trades with a value ranging from $3.2 million to $11 million, according to a review by the nonprofit Campaign Legal Center. The holdings ran the gamut from blue chips like Citigroup and AT&T to Chinese search engine Baidu.

Throughout this period Suozzi failed to file periodic transaction reports, which the STOCK Act requires for each transaction.

Nancy Pelosi
Nancy Pelosi said members of Congress should be able to participate in the ‘free market economy.’
Rod Lamkey – CNP / Avalon

The center asked the Office of Congressional Ethics to investigate Suozzi. “When members of Congress trade individual stocks and fail to disclose those trades, they break the law and diminish the public’s trust in government,” the center’s letter stated.

The OCE declined to comment.

“The congressman’s investments are managed through independent advisors with discretion over all transactions,” Suozzi’s chief of staff Mike Florio said. “Every transaction has been reported on his annual financial disclosure, and all proper periodic disclosures have now been be filed and will continue to be going forward.”

Rep. Sean Patrick Maloney (D-Cold Spring) had his run-in with the Stock Act when he sold shares in eight companies in June 2020, which he received as part of an inheritance from his mother’s estate. The $11,051 disclosure — which included Apple, Microsoft and BlackRock stocks — came nine months outside the legal window. Like Suozzi, Maloney too earned an ethics complaint. this one from the Foundation for Accountability and Civic Trust, Business Insider reported.

Rep. Sean Maloney
Rep. Sean Maloney sold shares in eight companies in June 2020.
Ron Sachs – CNP

“As soon as this oversight was discovered, this filing was submitted to provide full transparency into that sale,” Maloney said in a statement amended to the tardy filing.

Rep. Brian Higgins (D-Buffalo) was an original co-sponsor of the STOCK Act, but nevertheless fell into its crosshairs after he was busted for waiting 11 months to disclose three stock sales valued at up to $115,000.

“Well, it’s on me. I made a mistake by neglecting to file a timely periodic transition report for several trades I made last fall,” Higgins told The Buffalo News. “I take full responsibility for it, I will pay whatever fine is associated with that mistake and I will make sure this doesn’t happen again.”

Rep. Tom Suozzi
Rep. Tom Suozzi was one of the original co-signers on the STOCK Act.
CQ-Roll Call, Inc via Getty Imag

Another upstate member, Chris Jacobs — a Republican backbencher — was also late to disclose 13 trades worth up to $865,000.

“As part of a review during the preparation of Congressman Jacobs’ annual financial disclosure, and based on guidance from the House Ethics Committee, the determination was made that these transactions should be submitted on a periodic transaction report,” a spokesman for Jacobs told Forbes.

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Sports world reacts to John Madden’s death

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Sports world reacts to John Madden’s death

Legendary NFL coach and broadcaster John Madden died Tuesday morning at 85, the NFL announced. News of the football icon’s passing hit Twitter on Tuesday evening, and athletes, coaches and broadcasters from across the sports world reacted.

Fellow broadcasting legend Dick Vitale, who is currently battling cancer, called Madden “the greatest analyst of all time of any sport” in his Twitter tribute.

Former Yankees pitcher and notable Raiders fan CC Sabathia said “your legacy will live forever.” Madden coached the then-Oakland Raiders from 1969-78, a couple of years before Sabathia, a Vallejo, California native, was born. Lakers star LeBron James had similar words about Madden’s lasting legacy, adding an infinity emoji.

Former tennis star and social justice activist Billie Jean King recalled meeting Madden as a “privilege.”

Radio voice of the Rangers Kenny Albert, a five-sport broadcaster who’s been with FOX Sports since its inception in 1994, shared a photo circa 26 years ago to remember Madden.

ESPN’s Bomani Jones took a bit of a shot at current color commentators, noting that Madden “set an unreachable standard.”

Frank Caliendo, who’s made a career out of impersonations, including one for Madden, said he was surprised how emotional he felt.

Several football players, and others, including Saints running back Mark Ingram II and former Cowboys receiver Dez Bryant, credited Madden with being part of the reason why they love football.

Rams wide receiver and NFL MVP contender Cooper Kupp quote the late coach in his tribute: “The road to Easy Street goes through the sewer.”

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Miles McBride’s Knicks role will lessen with Kemba Walker’s resurgence

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Miles McBride’s Knicks role will lessen with Kemba Walker’s resurgence

MINNEAPOLIS — The Knicks got back another body in rookie point guard Miles McBride, who was cleared from protocols Tuesday and rejoined the team in Minnesota.

But there is no longer any hype for the rookie’s return. Kemba Walker is back as the starting point guard and coming off winning Eastern Conference Player of the Week honors with four standout games, including his Christmas Day spectacular. The Knicks have gone 2-2 since Walker regained the starting job.

“It’s great,’’ coach Tom Thibodeau said. “He had a great week. He’s playing great basketball. The team winning helps him get recognized and he was a big part of driving that winning. It’s great for the team.’’

McBride was also spectacular in his last outing before getting COVID-19, when he played the entire second half Dec. 16 in Houston and seemingly earned a spot in the rotation. In fact, McBride had strung together two decent outings before he was ruled out. But things have changed since his emergence and McBride is likely back to being a bit player.

Without a practice, McBride wasn’t even expected to see time when the Knicks faced the Timberwolves to kick off a four-game road trip.

Miles McBride
NBAE via Getty Images

Of course, with Walker’s arthritic knee, anything is possible. The Knicks play Detroit on Wednesday in a back-to-back, so it’s uncertain whether Walker will complete both contests. In addition, Immanuel Quickley is out of COVID-19 protocols but Thibodeau wasn’t sure he was ready for meaningful minutes.

That left Walker against the depleted Timberwolves, who were missing their three top players (Anthony Edwards, Karl-Anthony Towns, D’Angelo Russell), all because of COVID-19 .

Kemba Walker
Kemba Walker
USA TODAY Sports

When McBride got sidelined by the virus and Derrick Rose needed ankle surgery, Walker was resurrected by Thibodeau and it’s been a stunning comeback story.

Though Thibodeau has clear reservations about Walker based on his nine-game banishment due to his defensive malaise as an undersized point guard, he admitted after the Christmas Day triple-double against Atlanta that Walker is playing “much more aggressive.”

Walker’s triple-double that featured 10 points, 12 assists and 10 rebounds was a lot different than his prior outing, when he scored 44 points against Washington.

“I thought his passing was terrific,’’ Thibodeau said before the Knicks resumed their schedule.

“Kemba had control of the game. The game tells you what to do. That’s what I loved about the way he played. I don’t think he forced anything. They puts size on him and were aggressive in their pick-and-roll coverage. He didn’t fight it. He attacked pressure the way you like to attack pressure. You don’t fight pressure with pressure. Don’t try to split it. Get rid of it, go to the backside. Let the game tell you what to do.’’

The Knicks coach is finally seeing all the elements of what Walker can do. Before his demotion, Walker was nothing more than a no-defense, 3-point shooter whose plus-minus was an abysmal minus-122.

Thibodeau was also concerned about his durability in sitting out two of the three back-to-back sets. The last load management game in Atlanta in late November triggered Thibodeau’s decision.

But now it’s only superlatives from Thibodeau in judging the last four games.

“Sometimes it’s going to be his shooting, sometimes it’s his penetration and getting in the paint to force a collapse and sometimes they’re being aggressive with their traps get rid of the ball quickly,’’ Thibodeau said. “The overall play, his rebounding. When your guards rebound, those are key to fast breaks. The more guard rebounding we get the better we can be. ‘’

The Knicks still have three players in protocols — centers Nerlens Noel and Jericho Sims and the newly infected Wayne Selden. Quickley and Kevin Knox were cleared on Christmas but were held out for conditioning.

No matter. The Knicks go as Kemba goes.

“He’s much more aggressive,’’ Thibodeau said. “That was the challenge. At the beginning of the year he and Evan were two new starters. Sometimes guys are trying to fit in. he’s being very aggressive which is the way we want him to play. Not deferring at all. When he and Julius [Randle] are aggressive like that our team is different.’’

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Bar raises dramatically for Zach Wilson in matchup with Tom Brady, Buccaneers

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Zach Wilson and Tom Brady

When Zach Wilson stares across the MetLife Stadium field at the opposite sideline this Sunday, it won’t be Trevor Lawrence he’ll be looking at as his game-day counterpart.

Lawrence, drafted by Jacksonville one spot before the Jets selected Wilson at No. 2 overall last April, is a contemporary.

This Sunday at MetLife, the Jets rookie quarterback won’t be staring at a contemporary on the other sideline. He’ll be staring at the GOAT.

Tom Brady.

The bar raises dramatically for Wilson and the Jets, who are coming off of their feel-good, get-well win over the woeful Jaguars and Lawrence this past Sunday.

Brady and Buccaneers, who are 11-4, NFC South division champions and seeking to repeat as Super Bowl champions, play the Jets, who are 4-11 and seeking more signs of development from their rookie quarterback.

To say this is a step up in competition for Wilson and the Jets going from Lawrence and the Jags to Brady and the Bucs is as obvious as pointing out that Tampa Bay receiver Antonio Brown has had a few off-the-field incidents during his otherwise stellar NFL career.

There hasn’t been a lot to keep the interest of the Jets fan this season — other than watching Wilson’s development. That took an unfortunate pause for the four games Wilson missed with a knee injury, but he’s been back for five games and has looked like a better quarterback, throwing only two interceptions in those games (none in the last three) since returning from his injury.

The problem, though, is that Wilson hasn’t been producing enough touchdowns, throwing for three of them and rushing for four others in the past five games.

Zach Wilson and Tom Brady
Zach Wilson and Tom Brady
N.Y. Post: Charles Wenzelberg; AP

Baby steps, though.

Wilson was the better quarterback this past Sunday when matched up with Lawrence, who threw for more yards than Wilson did, but Wilson ran for 91 yards, including his electric 52-yard scoring jaunt, and made key throws when he needed them.

Wilson will not win Sunday’s game against Brady and the Bucs throwing for the 102 yards he had against the Jaguars. He and the Jets will need more.

Consider this: Brady enters the game having thrown 37 TD passes and for 4,580 yards this season and averages a league-high 305.2 passing yards per game.

Then this: The Buccaneers average 29.5 points per game this season, second most in the NFL.

And this: Wilson doesn’t have a single 300-yard passing game, averages 183 passing yards per game and has thrown seven TD passes in 11 games.

Seven TD passes is a pedestrian two-game total for Brady.

Wilson and the Jets are playing with house money anyway in what always has been a developmental season, so Sunday against Brady should, at its very least, be a great measuring-stick learning experience for Wilson, who’s studied Brady on tape.

Wilson revealed this month that he watched film of Brady before the Jets played the Eagles on Dec. 5 in an effort to pick up tips on how Brady worked against the Eagles defense when he played them earlier in the season.

“I thought it was really cool to see kind of how he went through his whole process, how he navigated the pocket, different things like that,” Wilson said at the time.

On Sunday, Wilson gets to see that process up close as Brady tries to dissect a Jets defense that has yielded 29.9 points per game this season, the most in the NFL.

That puts an added onus on Wilson to produce on the other side of the ball, because he knows Brady is going to get his. Wilson will likely need to produce four TDs — any way he can — for the Jets to simply remain competitive with the Super Bowl champs.

That’s a lot to ask of a 22-year-old kid who’s produced just 11 TDs in his 11 starts, up against Brady, who’s thrown 618 TD passes and for 83,784 yards in his remarkable career.

It, too, is a lot to ask playing against an aggressive Tampa Bay defense that’s ranked No. 9 in the NFL in points allowed (20.8 per game) and is led by former Jets head coach Todd Bowles, who’d surely like to send a holiday message to his former employer.

If you don’t think Bowles will be blitzing the bejesus out of Wilson, then you probably think Antonio Brown is a living saint.

The good news for the Jets is that Wilson has shown incremental improvements, particularly when it comes to his decision-making and quicker releases on his throws.

“He’s coming along, he’s getting more comfortable, he’s calmer back there,’’ Jets coach Robert Saleh said Monday. “He’s in a great headspace and it’s going to be fun to watch him grow, continue to grow.’’

A big part of that growth will take place this Sunday as he watches the GOAT operate from the opposite sideline at MetLife.

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