Commerce Secretary Howard Lutnick recently endorsed buying Tesla stock, claiming it's currently 'unbelievably cheap,' amidst a sharp decline in the company's share value. With a nearly 42% drop this year, ethical experts have expressed concern over the administration's practice of promoting specific companies, a departure from traditional expectations for government officials. Critics argue that such endorsements blur the lines of ethics and propriety, especially given the financial ties between Elon Musk and the current administration.
The idea of promoting a company, the White House doesn't do that. The Commerce Secretary is not Jim Cramer.
It's an ethics issue, and it's an optics issue. Whether or not there is some kind of quid quo pro here, people will question it.
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