Home>Campaigns>Republicans skewer Malinowski stock deals in new ad

Rep. Tom Malinowski (D-Ringoes) touts pandemic relief for small businesses in a new TV ad. (Photo: Malinowski for Congress.)

Republicans skewer Malinowski stock deals in new ad

By David Wildstein, June 02 2021 9:37 am

The National Republican Congressional Committee has a launched a new five-figure digital ad and billboard campaign in New Jersey’s 7th district, smacking Rep. Tom Malinowski (D-Ringoes) for personal stock trades – an issue that could cost him his seat in Congress next year.

The two-term Central Jersey Democrat has been under fire for a burst of stock trades that give the impression that he profited by betting against companies by short-selling their stocks – including a bio-technology business that wound up pulling an application to the Food and Drug Administration on the morning Malinowski’s broker shorted the company’s stock.

Malinowski is now setting up a blind trust to obviate any conflicts.

The ad, “Got Rich,” features two women voices: one an announcer and the other a newscaster.

Script: “As our economy collapsed from the coronavirus, Congressman Tom Malinowski got rich.  Tom Malinowski, known for scolding those looking to capitalize on the once in a century pandemic, is in the spotlight now for doing just that.  The Associated Press reporting that the lawmaker bought or sold as much as one million dollars of stock… Malinowski broke the law and tried to hide it.  He even placed bets against American companies he was supposed to be helping.  Tell Tom Malinowski: stop putting person profits ahead of New Jersey voters and businesses.”

“New Jersey voters won’t forget that during one of the most challenging years for his constituents, Tom Malinowski was focused only on doing whatever he could to profit off the pandemic,” said Samantha Bullock, an NRCC spokesperson.

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