WASHINGTON — At least nine members of Congress sold banking stocks before and during the market turmoil in March, the Financial Times reported.
Josh Gottheimer, a New Jersey Democrat and member of the financial services committee, disclosed a March 9 sale of shares in Silicon Valley Bank valued at between $1,000 and $15,000, the newspaper said. SVB collapsed the following day, sending U.S. banking stocks plummeting.
Gottheimer also reported sales made on March 6 and March 14 of shares in Charles Schwab Corp. worth a similar amount, the newspaper reported. Representatives for the congressman pointed the FT to a statement from last year in which they said his financial decisions were made at the discretion of a third-party financial adviser.
