His Mouth Isn't
Oh, those pesky mutual funds.
Designed as they are to spread out risk among a large number of investments, they also spread out the potential for conflict between a politician's stated principals and his financial holdings. Former Massachusetts governor Mitt Romney found that out this week, when his newly released financial disclosure reports showed he owned mutual funds that invest in a stem cell company. Romney is opposed to the use of embryonic stem cells.
Now, it appears that another candidate has been caught with his investment hand in the same cookie jar.
Kansas Sen. Sam Brownback, whose declarations of opposition to stem cell research are even more intense than Romney's, owns a mutual fund (American Funds Capital World Growth and Income Fund) which invests in the same company, Novo Nordisk. The company describes itself as an "active partner in national and international cooperative projects involving stem cells."
Brownback's financial disclosure lists him as owning between $1,001 and $15,000 worth of the mutual fund, far less than the $100,000 to $250,000 that Romney owns.
Aides to Brownback note that the disclosure form indicates "DC" next to the entry, indicating the fund in question is owned by one or more of the senator's dependent children -- his kids, not him.
"The fund in question was not owned by Senator Brownback or his wife. It was owned by one of his children, who was unaware of the issue. The broker has already been contacted and instructed to sell the fund," said Brownback spokesman Brian Hart.
--Michael D. Shear
Posted by: Stokeybob | August 15, 2007 7:18 PM | Report abuse
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