Senators Loeffler And Burr Caught Dumping Their Stocks After Private Meeting On Coronavirus Impact

[Teh One Who Knocks]

ANDERS HAGSTROM, WHITE HOUSE CORRESPONDENT - The Daily Caller


https://i.imgur.com/pKFBkmel.png

Two Republican senators were caught selling off millions of dollars worth of stocks shortly after a closed-door Senate-only meeting forecasting the impact of the coronavirus pandemic, the Daily Beast reported Thursday.

Republican Georgia Senator Kelly Loeffler sold roughly $3.1 million in stocks she jointly held with her husband between January 24 and February 14, just before the disease put the stock market into freefall. Her colleague and fellow Republican North Carolina Senator Richard Burr sold off roughly $1.5 million of his own stocks in February as well, shortly before hosting a private meeting with wealthy constituents where he detailed to them the potential impacts of the virus, according to NPR.
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Loeffler has yet to release comment on the issue, but Burr addressed the NPR story on Twitter.
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“Every state has a state society,” Burr went on to argue. “They aren’t ‘secretive’ or ‘high-dollar donor. organizations. They’re great civic institutions that bring people in D.C. together for events, receptions, and lunches. And they’re open to anyone who wants to get involved.'”

Burr’s remarks at the meeting were saved to an audio recording which NPR obtained. On it, he can be heard warning the attendees that the virus was much more serious than was being widely reported at the time.

“There’s one thing that I can tell you about this: It is much more aggressive in its transmission than anything that we have seen in recent history,” he said, according to a secret recording of the remarks obtained by NPR. “It is probably more akin to the 1918 pandemic.”

[RBP]

Okay. And?

[Teh One Who Knocks]

Okay. And?


Tucker Carlson: Richard Burr ‘Must Resign from the Senate and Face Prosecution for Insider Trading’
By Jeff Poor - Breitbart


Thursday, Fox News Channel’s Tucker Carlson called on Sen. Richard Burr (R-NC) to resign after reports show he sold off hundreds of thousands of dollars in stock after signaling a warning to a group called the Tar Heel Club about the threat of the coronavirus.

The allegation is that Burr gave contradicting information publicly, downplaying the threat before his sell-off and may have had inside information given his position as the chairman of the Senate Intelligence Committee.

“You may have seen news reports this afternoon that chairman of the Senate Intelligence Committee sold more than a million dollars in stock in mid-February after learning about how devastating the Chinese coronavirus could be. He had inside information about what could happen to our country, which is now happening,” Carlson said. “But he didn’t warn the public. He didn’t give a primetime address. He didn’t go on television to sound the alarm. He didn’t even disavow an op-ed he’d written just 10 days before claiming America was “better prepared than ever for coronavirus.”

“He didn’t do any of those things,” he continued. “Instead, what did he do? He dumped his shares in hotel stocks so he wouldn’t lose money, and then he stayed silent. Maybe there is an honest explanation for what he did. If there is, he should share it with the rest of us immediately. Otherwise, he must resign from the Senate and face prosecution for insider trading. There is no greater moral crime than betraying your country in a time crisis, and that appears to be what happened.”

[RBP]

Isn't Tucker wrong? Congress can legally trade on insider information... unless the law recently changed.

[Teh One Who Knocks]

Isn't Tucker wrong? Congress can legally trade on insider information... unless the law recently changed.

From Wiki:

STOCK Act

The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The bill prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.

The bill was introduced by Joe Lieberman, independent United States Senator for Connecticut, on January 26, 2012, and passed in the Senate by a 96–3 vote. Later the House of Representatives passed it by a 417–2 vote. The bill was supported heavily by vulnerable incumbents and signed into law by President Obama. According to the current United States Senate Select Committee on Ethics, "A member, officer, or employee of the Senate shall not receive any compensation, nor shall he permit any compensation to accrue to his beneficial interest from any source, the receipt or accrual of which would occur by virtue of influence improperly exerted from his position as a member, officer, or employee."

[lost in melb.]

Okay. And?

Like lance said, he downplayed the threat until AFTER he sold his shares. Blatant insider trading

[RBP]

Like lance said, he downplayed the threat until AFTER he sold his shares. Blatant insider trading

Eh. But did he do so for the purpose of benefiting his sale? That's a stretch since everyone was doing the same thing.

[Hikari Kisugi]

Okay. And?

Isn't it akin to insider trading?
Using info you have that no one else had to make a profit, and save losses?

[Teh One Who Knocks]

https://i.imgur.com/8k40EFml.jpg

[DemonGeminiX]

Loeffler's claiming that her financial advisers made the moves without her knowledge. Problem is, she's on Trump's Coronavius task force and has been on it since she's took Isakson's place. I don't like Loeffler anyway. She wasn't elected. Kemp installed her when Isakson stepped down for health reasons. The majority in Georgia all wanted Doug Collins to take Isakson's place and he's running against Loeffler in this election.

[DemonGeminiX]

Oh, and that bitch Feinstein's been accused of this as well.

[RBP]

I'm sorry, but I don't give a fuck about this other than if it distracted them from their real work.

[DemonGeminiX]

I'm sorry, but I don't give a fuck about this other than if it distracted them from their real work.

:hand:

They're constantly distracted from their real work.

[perrhaps]

:hand:

They're constantly distracted from their real work.

They don't give a shit about their real work. Ninety-five percent of their time from the moment they're sworn in is solely dedicated to getting reelected.

[lost in melb.]

They don't give a shit about their real work. Ninety-five percent of their time from the moment they're sworn in is solely dedicated to getting reelected and lining the pocket of themselves and their mates.

:ftfy: