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Open Letter to Steve Kagen

Location: Green Bay, WI

Open Letter to Steve Kagen

Nancy Nusbaum, Democratic candidate for the 8th Congressional District, sent an open letter to Steve Kagen today. She asked him to disclose accurately, exactly and truthfully how much he invested in drug companies and how much he profited when he sold their stock.

Dear Steve Kagen,

I have a history of fighting for open government and transparency. I was a founding member of the Wisconsin Democracy Campaign and served on their first board of directors. I also served on the Governing Board of Common Cause Wisconsin.

In your "No Patient Left Behind" plan the first point is "Open disclosure of all health care-related prices." In the spirit of open disclosure of all health care related prices, I am asking you to openly disclose your investments and profits from investments in pharmaceutical companies.

As someone who has always fought for open government and transparency, I am asking you to explain your claim that you sold all of your stocks, including hundreds of thousands of dollars worth of stocks in pharmaceutical companies.

You claimed that you sold all of your stocks since your last Personal Financial Disclosure filing, "I today own zero stock. We have absolutely no conflict of interest with anybody's business…I think it's important that you know who your Congressman is working for, and I'm going to be working for you." (Harmony Café 7/26/2006)

You claim to no longer have a conflict of interest because you have sold all your stocks. How much money did you make from selling your pharmaceutical stocks?

In the spirit of transparency and disclosure, you owe it to the voters of Northeast Wisconsin to correctly file your Personal Financial Disclosure Report, something that is required under federal election law and which you have not done. Your current Personal Financial Disclosure report as held by the Office of the Clerk of the U.S. House of Representatives does not cover the required dates nor is it complete. I also ask that you file an amendment which reflects disclosure of your capital gains.

Jamie Wall and I have properly filed our Personal Financial Disclosure Reports. In light of the public's continued distrust of elected officials and government from ongoing ethics scandals, you have a responsibility to the voters to come clean with your finances so that they can judge for themselves whether there is a conflict of interest.

Nancy Nusbaum

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