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Congressman Scott Peters did a lot of buying and selling in July

Peters' picks

Scott Peters
  • Scott Peters

This July, not long before world stock markets headed south last month, La Jolla Democratic congressman Scott Peters did a lot of buying. According to a disclosure filing with the House ethics commission, from July 10 through 31, Peters loaded up on as much as $3.7 million or as little as $1.65 million worth of equities, based on the price-disclosure ranges provided for under federal law.

The congressman did more than a little selling as well, dumping between $500,000 and $1 million worth of military cyber security contractor Telos preferred stock, along with the same value range of Sequoia California bonds. Recent Telos contracts have included a share of $7.91 billion worth of work at the Air Force Life Cycle Management Center at Wright-Patterson Air Force Base in Ohio.

Peters also sold off between $30,000 and $100,000 in Bank of America stock, the filing says. His buy picks included between $100,000 and $200,000 worth of Amazon; the same dollar value for Apple; and between $16,000 and $65,000 in San Diego’s own faltering Qualcomm, which recently slashed its workforce.

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Comments

All's fair in love and war and the brutal world of politics, but you seem to highlight Democratic Congressman Scott Peters' personal mid-year financial readjustments in an attempt to discredit him as a wealthy man, which he is, which he is known to be, and which is not news to anyone.

Where are comparable reports for car-alarm-rich GOP Congressman Darryl Issa and his colleagues in the San Diego delegation, GOP Rep. Duncan Hunter and Dems Susan Davis and Juan Vargas? We await these Reader revelations.

Meanwhile, people appreciate Scott Peters' moderate representation in his half-blue half-red district of mostly middle-class voters. Peters is hard-working, practical, intelligent and light years better than previous occupants of this seat -- including lightweight placeholder and Dem insider Lynn Schenk and her successor, GOP carpetbagging right-winger Brian Bilbray. To his credit, Peters also campaigns hard and has twice dispatched an extreme-right rival and now has settled into the difficult business of constituent service and governing.

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