In the fall of 2021, US Representative from Iowa, Cindy Axne created headlines when it was suspected that she had been hiding a vast number of significant trades. Last elected to the U.S. House on November 3, 2020, Axne is only one of two women who won the election to the U.S. House of Representatives from Iowa. The other Representative, Abby Finkenauer, is also a Democrat like Cindy and won the election in 2018 as well. Prior to a career in Politics, she was a business-owner with her husband John Axne, and has been active within local politics in her home state.
Hefty but Tardy
Recently, filings of Axne’s stock transactions were found to be dated more than 365 days back. The dates went from the more recent September 17, 2021 to all the way in the past on January 18, 2019. No doubt, it’s not hard to see which transaction dates turned the most heads. The price values of all these trades were in the $1,001 to $15,000 range. All these reports were filed on October 8,2021, as seen on the CapitolTrade page.
Axne’s portfolio contained a total of 44 Issuers, which included the top-level industries of the year: Alphabet Inc. (NASDAQ:GOOGL), Amazon.com Inc (NASDAQ:AMZN) and Facebook Inc. (NASDAQ:FB). Other Issuers present included thirty-one companies whose price accelerated by more than 10% this year alone.
At present, Axne sits on the Agriculture and Financial Services Committees. A noteworthy information considering that most of the high-profile trades included certain financial companies such as The almost infinite list included Wells Fargo & Co (NYSE:WFC), and Jefferies Financial Group Inc (NYSE:JEF), whose stock values increased by 80% to 100% in the past 12 months.
The tradings have added Axne to the list of politicians who have been tardy in reporting their trades, despite the passing of the STOCK Act in 2012. Whether or not these reportings were delayed on purpose is another arising issue.
In Her Defense
A spokesperson from Axne’s Office spoke out in the Congresswoman’s defense, saying the Axne has always abided by the imposed laws and regulations.
“In accordance with her legal requirements, she has submitted all required disclosures of her assets through her first three years in Congress. If there are errors with those disclosures, they are unintentional and the Congresswoman will take immediate and all necessary steps to ensure her disclosures are accurate and in accordance with the law,” Axne’s spokesman stated according to the Des Moines Register.
Other politicians based in Iowa, from both Republican and Democratic groups, were divided over the issue, which resulted in further debates.
What More Can Be Said?
While some have spoken in defence of the Hawkeye State’s representative, some have not been so bright in their response, stating that a Politician ought to be directly responsible for trades being made under her name.