WATCH: CNN Slams David Perdue For “Sheer Volume” Of Shady Stock Trades In Businesses His Senate Committees Oversee

December 17, 2020

Perdue is “poster child” for congressional stock trading scandals and refuses to put his assets in a blind trust

ATLANTA — Yesterday, a brutal CNN analysis revealed that in just the five years Senator David Perdue has been in office, he’s conducted 2,560 stock trades –– more than “the next seven most prolific Senate stock traders combined,” suspiciously trading, buying and selling stock in industries his committees “directly oversee.” The devastating report adds that Perdue refuses to answer questions about his shady trades, ducking reporters and skipping the only debate in the runoff. 


Key excerpts from CNN’s analysis on Senator Perdue’s prolific stock trades:

Drew Griffin: “In just the five years he’s been in office, Georgia Senator David Perdue has conducted 2,560 stock trades, some of them on businesses his Senate committees oversee. It’s not just that he’s a prolific trader, he is the most prolific, making more trades than any other sitting senator, even those who’ve been in office much longer.”

James Cox: “I think the word that comes to mind is astounding.”

Griffin: “Among his colleagues, it’s not even close. An analysis for CNN by the Senate Stock Watcher website looked at all trades dating back to 2012. That’s the year Congress passed the Stock Act trying to curb insider trading in Congress. It shows Perdue, in his one term in office, has traded more stocks than the next seven most prolific Senate stock traders combined, and it’s not just any stocks.”

Craig Holman: “He’s trading, buying and selling stocks in the same businesses that he’s directly overseeing from his committee perches.”

Griffin: “Want specifics? In late 2018 and into January of last year, Perdue made at least a dozen purchases in BWX Technologies, a navy defense contractor. Perdue became chairman of a subcommittee overseeing Navy funding. … BWX stock rises, and from February through summer 2019, Perdue sells BWX at a profit.”

Griffin: “On a US Senate Banking Committee, Perdue worked to roll back regulations on the prepaid credit card industry. Soon after he was buying stocks in First Data, which stood to gain from the rollbacks. And in the first three months of this year, in a stock move that triggered a Justice Department investigation according to the New York Times, Perdue sold then bought back a large block of stock in the finance company Cardlytics. Perdue served on the company’s board of directors but resigned after his election. According to the Times, the investigation was closed with no charges. Perdue’s campaign calls that an exoneration –– it’s not.”

Cox: “It would be really good to take steps that would restore confidence that the individuals serving in the Congress are there to serve the public and not their own private agendas.” 

Griffin: “Perdue, whose net worth was estimated at more than $25 million in 2018 according to the Center for Responsive Politics, has chosen to leave the explanation of his stock trades to an aide…”

Griffin: “On the campaign trail, David Perdue will not even pause for questions. He’s refused to take part in the only debate for the runoff, and repeatedly refused to even acknowledge reporters like CNN’s Kyung Lah, let alone answer her or our questions.”


Other News from DPG

Questions? Tips? Call anytime.

Georgia Voter Protection Line


Democratic Party of Georgia

Help us elect Democrats in Georgia.