Two Republican Senators Used Insider Information To Dump Stock Before Market Collapse

Both of them agreed with Trump publically downplaying the situation, but they had received non-public briefings detailing how bad it was going to be and dumped their stock holdings shortly before the crash.  

Richard Burr

Soon after he offered public assurances that the government was ready to battle the coronavirus, the powerful chairman of the Senate Intelligence Committee, Richard Burr, sold off a significant percentage of his stocks, unloading between $628,000 and $1.72 million of his holdings on Feb. 13 in 33 separate transactions.

As the head of the intelligence committee, Burr, a North Carolina Republican, has access to the government’s most highly classified information about threats to America’s security. His committee was receiving daily coronavirus briefings around this time, according to a Reuters story.

A week after Burr’s sales, the stock market began a sharp decline and has lost about 30% since.

On Thursday, Burr came under fire after NPR obtained a secret recording from Feb. 27, in which the lawmaker gave a VIP group at an exclusive social club a much more dire preview of the economic impact of the coronavirus than what he had told the public.

Source

Kelly Loeffler 

Sen. Kelly Loeffler (R-GA) reported the first sale of stock jointly owned by her and her husband on Jan. 24, the very day that her committee, the Senate Health Committee, hosted a private, all-senators briefing from administration officials, including the CDC director and Anthony Fauci, the head of the National Institutes of Health of the United States, on the coronavirus. 

hat first transaction was a sale of stock in the company Resideo Technologies worth between $50,001 and $100,000. The company’s stock price has fallen by more than half since then, and the Dow Jones Industrial Average overall has shed approximately 10,000 points, dropping about a third of its value.

It was the first of 29 stock transactions that Loeffler and her husband made through mid-February, all but two of which were sales. One of Loeffler’s two purchases was stock worth between $100,000 and $250,000 in Citrix, a technology company that offers teleworking software and which has seen a small bump in its stock price since Loeffler bought in as a result of coronavirus-induced market turmoil.

Here is what she tweeted:

“Democrats have dangerously and intentionally misled the American people on #Coronavirus readiness,” she tweeted on February 28. “Here’s the truth: @realDonaldTrump & his administration are doing a great job working to keep Americans healthy & safe.”

Source 

Well, what do you expect? Republicans would use the Holocaust to make money if it happened here.

They're holding up coronavirus relief unless big corporations (who will write them fat checks in gratitude) get massive bailout checks. That includes airlines, who are only short of cash because they've spent it on stock buybacks for three years.

Republicans don't give a rat's ass if people suffer and die. They care about shareholder value, lining their pockets, and staying in power.

Wrong.

Draining the swamp indeed.  

Mark & the rest of the stooges forgot (on purpose) Diane Feinstein a Democrat. 

Actually Mark their is 4 total, (as to date) 3-republicans and 1-democrat. Reported it all or nothing! 

All 4 need to be punished and fined and give the profits to a charity!

They do and will get valuable information before the general public does but they do not need to profit from it.

Oh, yeah, my investment objective is to avoid any"profit from it."  C'mon.

Isn't this what we pay our investment advisors to help us with?  Of course I know the difference, and as usual my guy said "you are fine, well diversified, hold on", so I'm not in the category of humans who have tons of money, tons invested, and have people in high places to tell me when to pull a trigger.   Just a peon, getting peed on right now.

A player at my table in Vegas (first week in March) was bragging that he unloaded his stocks right before the virus news hit.  I don't know his name, whether he is ANYBODY or just an average Joe, whether he was just bragging or lying or figured it out himself or just got some lucky advice to get out.  

Me, if I knew something I would do something.  Who wouldn't? 

Let me get this straight.  To be found guilty of insider trading, a person must act on information that the public does not have.  You are then admitting that Democrat senators concelled important information from American citizens.  Yet you still support these Democrats?

Not sure what you are talking about. Even Tucker said Burr needs to resign. 

The best part is how they take a page right out of the Trump scandal playbook.

"I dont know these financial advisors who are doing these transactions on my behalf.  Never talked to them.  Never met them.    Total conincidence they emptied my positions in hotel stocks right before the virus hit. "

And why not?  Its not like their base will hold them accountable.