Four senators sold stocks before coronavirus threat crashed market

[bigrebnc1775]

{searched for any mention of this in Congress Forum, found none}

Pro Publica:

>> 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.

... According to the NPR report, Burr told attendees of the luncheon held at the Capitol Hill Club: “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 ... It is probably more akin to the 1918 pandemic.”

He warned that companies might have to curtail their employees’ travel, that schools could close and that the military might be mobilized to compensate for overwhelmed hospitals.

Burr’s public comments had been considerably less dire. In a Feb. 7 op-ed that he co-authored with another senator, he assured the public that “the United States today is better prepared than ever before to face emerging public health threats, like the coronavirus.” He wrote, “No matter the outbreak or threat, Congress and the federal government have been vigilant in identifying gaps in its readiness efforts and improving its response capabilities.” <<​

How conveeeeeenient.

This klown should resign at the minimum. I don't need corruption representing my state.

The information was given during a private security meeting that feinstein had been a part of.

That doesn't change the fact that he used that information for a huge stock sell off. That's a felony.

and so did Finestien lock them up
Also point is gator breath ignored Finestien and went after the Republican

 

[Daryl Hunt]

{searched for any mention of this in Congress Forum, found none}

Pro Publica:

>> 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.

... According to the NPR report, Burr told attendees of the luncheon held at the Capitol Hill Club: “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 ... It is probably more akin to the 1918 pandemic.”

He warned that companies might have to curtail their employees’ travel, that schools could close and that the military might be mobilized to compensate for overwhelmed hospitals.

Burr’s public comments had been considerably less dire. In a Feb. 7 op-ed that he co-authored with another senator, he assured the public that “the United States today is better prepared than ever before to face emerging public health threats, like the coronavirus.” He wrote, “No matter the outbreak or threat, Congress and the federal government have been vigilant in identifying gaps in its readiness efforts and improving its response capabilities.” <<​

How conveeeeeenient.

This klown should resign at the minimum. I don't need corruption representing my state.

The information was given during a private security meeting that feinstein had been a part of.

That doesn't change the fact that he used that information for a huge stock sell off. That's a felony.

and so did Finestien lock them up
Also point is gator breath ignored Finestien and went after the Republican

The undenialble proof is for the Republican. It's there, it's black and white. Come up with the same for Fienstien and I would want her prosecuted at as well. Sorry, no rightwingnutzoid unfounded claims allowed.

 

[Redfish]

Some day in the next 50 years or so, the country is going to have to declare bankruptcy and write off its debt, mostly owed to China at present, that might actually be a good move since China has been trying to destroy us for years.

Incorrect once again, most of the debt is owed to US investors...

Ok, but my point remains. at some time this has to be dealt with and bankruptcy is the only possible solution.

god forbid we should actually cut spending...that would never do

I fully support cutting spending, I asked what you would cut, but you cannot answer, I find that kind of telling.

And given your full trump support you also support increased spending. That is really telling.

No, I do not support spending just for the sake of spending, I do not support deficit financing by our government, I do not support increasing the debt unless absolutely necessary, as it was after obama decimated our military and as it is now to counteract the financial impacts of the virus.

I do continue to believe that Trump is doing a great job as president, much better than either Bush, clinton, or obama, and much better than Carter or LBJ,,. roughly equal to Reagan, but Reagan was smoother.

 

[bigrebnc1775]

{searched for any mention of this in Congress Forum, found none}

Pro Publica:

>> 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.

... According to the NPR report, Burr told attendees of the luncheon held at the Capitol Hill Club: “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 ... It is probably more akin to the 1918 pandemic.”

He warned that companies might have to curtail their employees’ travel, that schools could close and that the military might be mobilized to compensate for overwhelmed hospitals.

Burr’s public comments had been considerably less dire. In a Feb. 7 op-ed that he co-authored with another senator, he assured the public that “the United States today is better prepared than ever before to face emerging public health threats, like the coronavirus.” He wrote, “No matter the outbreak or threat, Congress and the federal government have been vigilant in identifying gaps in its readiness efforts and improving its response capabilities.” <<​

How conveeeeeenient.

This klown should resign at the minimum. I don't need corruption representing my state.

The information was given during a private security meeting that feinstein had been a part of.

Actually I don't think Feinstein was in that meeting, but it doesn't affect the original point, does it. Feinstein is not your Senator and not my Senator. Aaron Burr, however, IS. And he needs to be booted.

Burr Asks For Ethics Investigation Over Senate Stock Scandal
Topline: Senator Richard Burr, R-N.C., under fire for selling large amounts of stock before the coronavirus panic began and markets really began to falter, has asked for the senate ethics committee to investigate his actions, saying he believes they’ll clear him.

• Burr is one of four senators — Senators Kelly Loeffler, R-Ga, James Inhofe, R-Okla., and Dianne Feinstein, D-Calif., are the others — who, according to financial disclosures and reported by ProPublica, the Center for Responsive Politics and the Daily Beast, sold large amount of stock.
• Only Burr has indicated that he personally sold his stock; Loeffler, Inhofe, and Feinstein say they weren’t personally involved in the stock trading decisions.
• Both Burr and Feinstein are on the senate intelligence committee, and receive confidential briefings.
• Loeffler, whose husband is Jeffrey Sprecher, chairman of the New York Stock Exchange, sold between $1,275,000 and $3,100,000 worth of shares starting on January 24; Feinstein, also a member of the intelligence committee, sold $1.5 million to $6 million worth of stock from January 31 to February 18 in Allogene Therapeutics, a California-based biotech company, according to the New York Times; James Inhofe, R-Okla., sold hundreds of thousands of dollars worth of stock in Paypal, Apple and Brookfield Asset Management on January 27, according to a disclosure report also reported by the New York Times.

 

[Redfish]

Some day in the next 50 years or so, the country is going to have to declare bankruptcy and write off its debt, mostly owed to China at present, that might actually be a good move since China has been trying to destroy us for years.

Incorrect once again, most of the debt is owed to US investors...

Ok, but my point remains. at some time this has to be dealt with and bankruptcy is the only possible solution.

god forbid we should actually cut spending...that would never do

I fully support cutting spending, I asked what you would cut, but you cannot answer, I find that kind of telling.

I am terribly sorry for stepping away from the forum and not responding fast enough...

as I have posted about 100 times on here I would cut everything, no exceptions, 2 to 3 percent per year for 5 straight years. After that time I would then do more targeted cuts.

We agree 100%. think anyone in DC agrees with us?

 

[bigrebnc1775]

{searched for any mention of this in Congress Forum, found none}

Pro Publica:

>> 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.

... According to the NPR report, Burr told attendees of the luncheon held at the Capitol Hill Club: “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 ... It is probably more akin to the 1918 pandemic.”

He warned that companies might have to curtail their employees’ travel, that schools could close and that the military might be mobilized to compensate for overwhelmed hospitals.

Burr’s public comments had been considerably less dire. In a Feb. 7 op-ed that he co-authored with another senator, he assured the public that “the United States today is better prepared than ever before to face emerging public health threats, like the coronavirus.” He wrote, “No matter the outbreak or threat, Congress and the federal government have been vigilant in identifying gaps in its readiness efforts and improving its response capabilities.” <<​

How conveeeeeenient.

This klown should resign at the minimum. I don't need corruption representing my state.

The information was given during a private security meeting that feinstein had been a part of.

That doesn't change the fact that he used that information for a huge stock sell off. That's a felony.

and so did Finestien lock them up
Also point is gator breath ignored Finestien and went after the Republican

The undenialble proof is for the Republican. It's there, it's black and white. Come up with the same for Fienstien and I would want her prosecuted at as well. Sorry, no rightwingnutzoid unfounded claims allowed.

stop playing stupid democrats are just as bad just more slick about it lock the bitch up

 

[Daryl Hunt]

{searched for any mention of this in Congress Forum, found none}

Pro Publica:

>> 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.

... According to the NPR report, Burr told attendees of the luncheon held at the Capitol Hill Club: “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 ... It is probably more akin to the 1918 pandemic.”

He warned that companies might have to curtail their employees’ travel, that schools could close and that the military might be mobilized to compensate for overwhelmed hospitals.

Burr’s public comments had been considerably less dire. In a Feb. 7 op-ed that he co-authored with another senator, he assured the public that “the United States today is better prepared than ever before to face emerging public health threats, like the coronavirus.” He wrote, “No matter the outbreak or threat, Congress and the federal government have been vigilant in identifying gaps in its readiness efforts and improving its response capabilities.” <<​

How conveeeeeenient.

This klown should resign at the minimum. I don't need corruption representing my state.

The information was given during a private security meeting that feinstein had been a part of.

That doesn't change the fact that he used that information for a huge stock sell off. That's a felony.

and so did Finestien lock them up
Also point is gator breath ignored Finestien and went after the Republican

The undenialble proof is for the Republican. It's there, it's black and white. Come up with the same for Fienstien and I would want her prosecuted at as well. Sorry, no rightwingnutzoid unfounded claims allowed.

stop playing stupid democrats are just as bad just more slick about it lock the bitch up

Then come up with the proof required to "Lock the Bitch Up". Just saying it only shows that you are trying to give your "Republican Felon" a free pass by trying to implicate others. If you do come up with rock solid evidence like your Republican Felon then I will support "Locking the Bitch Up".

 

[bigrebnc1775]

The information was given during a private security meeting that feinstein had been a part of.

That doesn't change the fact that he used that information for a huge stock sell off. That's a felony.

and so did Finestien lock them up
Also point is gator breath ignored Finestien and went after the Republican

The undenialble proof is for the Republican. It's there, it's black and white. Come up with the same for Fienstien and I would want her prosecuted at as well. Sorry, no rightwingnutzoid unfounded claims allowed.

stop playing stupid democrats are just as bad just more slick about it lock the bitch up

Then come up with the proof required to "Lock the Bitch Up". Just saying it only shows that you are trying to give your "Republican Felon" a free pass by trying to implicate others. If you do come up with rock solid evidence like your Republican Felon then I will support "Locking the Bitch Up".

prove Burr did something illegal I can play your game bitch

 

[Bootney Lee Farnsworth]

Sens. Dianne Feinstein, Jim Inhofe made stock trades before coronavirus pandemic

This is BULLSHIT.

 

[BuckToothMoron]

To be honest, I have no issue with them selling. This was not a case of insider trader. The people you should be angry with are your own money managers and those clowns (Jim Cramer et al) on CNBC. Those professional money managers who didn’t warn you. Now we know, if politicians start selling stocks, a crash is imminent.

 

[B. Kidd]

Congressional insider knowledge equals Congressional insider trading.
It's been happening for over 2 decades. I'm shocked that some people are only beginning to grasp this! The same people must have also believed that their representatives were primarily there to represent them.

 

[Harpy Eagle]

No, I do not support spending just for the sake of spending, I do not support deficit financing by our government, I do not support increasing the debt unless absolutely necessary, as it was after obama decimated our military. .

Do you have any clue what percent of the debt added under Trump was increased spending on the military?

 

[Daryl Hunt]

That doesn't change the fact that he used that information for a huge stock sell off. That's a felony.

and so did Finestien lock them up
Also point is gator breath ignored Finestien and went after the Republican

The undenialble proof is for the Republican. It's there, it's black and white. Come up with the same for Fienstien and I would want her prosecuted at as well. Sorry, no rightwingnutzoid unfounded claims allowed.

stop playing stupid democrats are just as bad just more slick about it lock the bitch up

Then come up with the proof required to "Lock the Bitch Up". Just saying it only shows that you are trying to give your "Republican Felon" a free pass by trying to implicate others. If you do come up with rock solid evidence like your Republican Felon then I will support "Locking the Bitch Up".

prove Burr did something illegal I can play your game bitch

Already done. You can play stupid if you want but the SEC is well aware of it.

1. He was in on the meeting that predicted the downturn.

2. Right after that, he dumped stocks that would be affected by the downturn.

That is called Insider Trading. It's illegal. It's a Felony. And the proof has already been posted. Now, you post where Fienstien has done the same thing from the same meeting.

No free rides.

 

[Daryl Hunt]

To be honest, I have no issue with them selling. This was not a case of insider trader. The people you should be angry with are your own money managers and those clowns (Jim Cramer et al) on CNBC. Those professional money managers who didn’t warn you. Now we know, if politicians start selling stocks, a crash is imminent.

Actually, it IS a case of insider trading. If you have prior knowledge that something is going to happen and you are on either the Board or in the Government then it amounts to exactly the same thing. If you don't want the Politicos to be convicted of insider trading force them to no have any stocks or bonds while they serve in office.

 

[B. Kidd]

Congressional term-limits once we clear this pandemic.
It's time!

 

[BuckToothMoron]

To be honest, I have no issue with them selling. This was not a case of insider trader. The people you should be angry with are your own money managers and those clowns (Jim Cramer et al) on CNBC. Those professional money managers who didn’t warn you. Now we know, if politicians start selling stocks, a crash is imminent.

Actually, it IS a case of insider trading. If you have prior knowledge that something is going to happen and you are on either the Board or in the Government then it amounts to exactly the same thing. If you don't want the Politicos to be convicted of insider trading force them to no have any stocks or bonds while they serve in office.

I’d be fine with politicians not being allowed to hold stocks while in office, but the reality is the information they got was available to everyone, even you. In fact it was posted on this board before the stock market collapse. You just weren’t paying attention.

 

[DOTR]

the government didnt save you from the china virus. cry some more lackey. A chat room libertarian until you get scared.

I am not asking the government to save me from anything, this is about a US Senator giving rich donors inside information that was withheld from the rest of the country.

I realize you are never allowed to say anything bad about your beloved party, but anyone that is not a fucking mindless sheep would have a problem with this happening....which explains why you do not

Here ya go golfing gator. Cant wash your hands without a government program you know.

When and How to Wash Your Hands | Handwashing | CDC

 

[Harpy Eagle]

the government didnt save you from the china virus. cry some more lackey. A chat room libertarian until you get scared.

I am not asking the government to save me from anything, this is about a US Senator giving rich donors inside information that was withheld from the rest of the country.

I realize you are never allowed to say anything bad about your beloved party, but anyone that is not a fucking mindless sheep would have a problem with this happening....which explains why you do not

Here ya go golfing gator. Cant wash your hands without a government program you know.

When and How to Wash Your Hands | Handwashing | CDC

This from one of the most big government statist on the board. Irony is always lost on the ignorant.

 

[Lakhota]

In 2008, Richard Burr Also Told The Public Not To Panic While He Cashed Out

So, Burr has a history of insider trading.

 

[Daryl Hunt]

To be honest, I have no issue with them selling. This was not a case of insider trader. The people you should be angry with are your own money managers and those clowns (Jim Cramer et al) on CNBC. Those professional money managers who didn’t warn you. Now we know, if politicians start selling stocks, a crash is imminent.

Actually, it IS a case of insider trading. If you have prior knowledge that something is going to happen and you are on either the Board or in the Government then it amounts to exactly the same thing. If you don't want the Politicos to be convicted of insider trading force them to no have any stocks or bonds while they serve in office.

I’d be fine with politicians not being allowed to hold stocks while in office, but the reality is the information they got was available to everyone, even you. In fact it was posted on this board before the stock market collapse. You just weren’t paying attention.

More free passes.