Dr. Hamburg, Divest Thyself
One of the wealthiest of the Obama administration appointees, Dr. Margaret Hamburg, has to offload her stock pretty quickly--apparently that's what comes from being married to a very successful hedge fund manager and holding a wide range of health and other medical related stock, says the Wall Street Journal. The new FDA chief is going to take a pretty significant pay cut--going from about $10 million per year to her yearly salary at FDA of $150,000.
Many of Dr. Hamburg's stocks, as well as her husband's, were inherited--but even those must go, including holdings in Johnson and Johnson, pharmaceutical benefits management company, Medco, and Merck. The good news: Hamburg gets to keep her family farm, even though animal issues and vet meds are covered by the FDA, so long as decision-making at the farm is done by someone else.
Summer Johnson, PhD
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