With the March 3rd primary now behind them, the U.S. Senate race between former Governor Roy Cooper and Republican Michael Whatley is beginning to take shape around questions of ethics and financial transparency.
Both candidates have said they support banning members of Congress from owning individual stocks. Now Cooper is calling on Whatley to prove he believes in that policy by selling his holdings today.
“If Michael Whatley truly believes public service is about serving North Carolinians and not boosting his own portfolio, he should commit to selling his individual stocks today,” Cooper said in a statement.
Whatley recently told the Washington Examiner that he agrees members of Congress should sell individual stocks or place them in a qualified blind trust to prevent conflicts of interest. “Public servants should never be about personal profit,” Whatley said. “If you’re elected to serve, your duty is to the voters and not your portfolio.”
Whatley’s candidate financial disclosure shows that he currently owns individual stocks in industries including pharmaceuticals, oil, and technology. Because federal disclosures list asset values in ranges, the exact total is unclear, but filings indicate holdings worth at least hundreds of thousands of dollars and potentially more than $1 million when family investments are included.
Cooper’s financial disclosures show a different approach. His filings list mutual funds but no individually owned stocks. According to state ethics filings, Cooper did not own individual stocks while serving as governor and has continued to avoid those investments while running for the U.S. Senate.
Members of Congress have faced growing criticism over stock trading for years. Critics argue that lawmakers who write laws affecting industries should not personally profit from investments tied to those sectors.
Cooper said that the standard should apply to candidates as well as sitting lawmakers.“Whatley has already profited from policy decisions he championed, eroding what little trust people already have in Washington politicians,” Cooper said. “I believe candidates must earn the trust of North Carolinians.”
