Susan Bayh is well compensated for her work: In fact, it is estimated that the Bayhs’ net worth is somewhere in the range of $2.9 million and $6.4 million. It is also estimated that 57% of their holdings are from investments in the health services industry, and 7% from the pharmaceutical/health products industry.
On January 31, 2006, Senator Bayh and Senator Jeff Bingaman (D-NM) announced plans to introduce the Medicare Prescription Emergency Guarantee Act to guarantee prescriptions to seniors who may or may not qualify for the prescription drug plan.
On February 2, 2006, Congress passed the Senator Bayh-sponsored long-term care legislation that would make long-term medical care insurance available to more patients.
On February 3, 2006, Susan Bayh exercised options on 20,001 shares of Wellpoint.
On May 17, 2007, two weeks before it was announced that Wellpoint’s mega-CFO was stepping down for unspecified non work-related issues, Mrs. Bayh exercised options on 3,334 shares of Wellpoint.
According to SEC records, the pre-tax profit on the sale of Wellpoint stock from February 2006 to the present was approximately $1.045 million.
Mrs. Bayh also served on the boards of directors of Cubist Pharmaceuticals, Inc., a pharmaceutical company from 2000 to 2004. She left just before Cubist senior management, family members and a neighbor were all implicated in an SEC insider trading lawsuit in January, 2005.
Evan Bayh sits on the Senate Banking and Housing Committee, which has oversight over the SEC.
On March 8, 2007, Judicial Watch filed a complaint against Senator Bayh with the Senate Ethics Committee for failing to properly disclose his directorship of the Evan and Susan Bayh Foundation, a foundation upon which he is named as a director on Form 990s but failed to disclose on his Senate Financial Disclosure Form for the years 2003, 2004, and 2005.
While there is no conclusive evidence to show that Susan Bayh in any way influences the decisions of her the senator on policy matters, there is compelling evidence to show that the Bayh family has profited greatly from its relationship with Wellpoint.
There is always the argument of the spirit of the law versus the letter of the law.
Which do you follow as an elected official?
In the case of elected officials, the answer is clear: Follow the spirit of the law until you get caught. Then follow the letter of the law.
Article comments
1 - moonraven
I am afraid this is silly. The only reason that folks run for office is to be able to peddle their influence and take bribes and kickbacks.
2 - Marcia L. Neil
A federally-funded education R&D think tank in San Francisco, CA, during the 1970-1980s had the 'D' word as the first name of an employee. The 'S' word is also a first name together with the 'E' word as the full name of a real person living near a northwest PA dammed reservoir.