When you take any political office, you are supposed to disclose all financial holdings. You are supposed to not reference them or push them towards the American people. Doing so can be a massive conflict of interest and can be seen as stock manipulation.
In the case of Jennifer Granholm, she is the Energy Secretary. A big division for the country, and one that currently is experiencing one of the largest expansions in the stock market’s history.
When she took office she was a major holder in Proterra- a Burlingame, CA-based electric bus company. Owning 240,520 shares of the company, she wasn’t some tiny owner. Yet it took her 157 days AFTER being nominated for her to liquidate the stock. In that time the stock soared, and she pushed behind it. In turn, when she did liquidate she was able to net $1.6 million from its sale.
During that time as she continued to push the stock, it reached a $2.6 billion market cap before she sold it off as required by an ethics committee on May 24th. A sizable growth for any stock in such a small time frame. Even now she has continued to push for the stock to be considered more widely as a solid company.
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Given her push was occurring during the Biden $1.2 trillion infrastructure planning phase, it is a bad mixture for her to be involved with ethically. With that passing, she now has near-autonomous control of how to spend this money and has been preaching the Proterra bus line as nearly being the second coming of Christ.
Considering she has served on their board, owned stock, and is still well connected with the company, this remains a massive conflict of interest. Yet she keeps on acting as if nothing is wrong here.
As Breitbart explains “On April 6, Granholm signed a document that listed the stocks she had divested from; however, she left out her 240,520 shares of Proterra, which she estimated at the time to be worth up to $5 million, according to the full financial disclosure report she submitted four days after her nomination.
Her investment in Proterra was her largest stock asset, equal in value to her home in Oakland, California, which she also valued as being worth up to $5 million. These two assets – her Proterra stock and her home – were the largest assets listed on Granholm’s financial disclosure form.
While Granholm continued to hold these Proterra stocks, her duties as energy secretary put her in a position to potentially benefit the company and its partners and in turn increase the value of the stock shares she still held.”
This is incredibly controversial and quite possibly more financially illegal than anything Trump ever sought to do, yet the left acts as if it’s no big deal. Yet the stock skyrocketed after she and Biden held an event at their company location back in May.
She is using her connections to make herself and her people money. To get contracts nearly guaranteed and to ensure the success of this company is solid. Ethical violations like these are criminal.
Breitbart expanded on this further “In fact, on February 24, the day before the Senate confirmed Granholm, Biden signed Executive Order 14017, which gave Granholm, the now-secretary of energy, instructions to lead the efforts to create a supply chain for electric batteries and other electric vehicle components… Two months later, on April 15, the Energy Department unveiled two different American taxpayer-funded electric vehicle grant opportunities worth more than $162 million.” If this doesn’t lead to charges and a deep investigation, nothing will.