Sen Burr Dumped Up to $1.6 Million of Stock After Reassuring Public About Coronavirus Preparedness

[kpete]

GOP Senator Dumped Stock Before Coronavirus Crisis
March 19, 2020 at 5:19 pm EDT By Taegan Goddard Leave a Comment

ProPublica: “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 $582,029 and $1.56 million of his holdings on Feb. 13 in 29 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.”

Link to tweet

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MORE:
https://www.propublica.org/article/senator-dumped-up-to-1-6-million-of-stock-after-reassuring-public-about-coronavirus-preparedness


UPDATE HERE:

Link to tweet

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[mnhtnbb]

1. Oh, boy. Send him to jail for insider trading.

[SCantiGOP]

42. That's one of the few laws we still enforce against rich folks

cause the Stock Market is sacred and holy and must not be trifled with.

[traladeda]

68. rule applies only to women

I think.

[Scarsdale]

76. Applies to democratic

members, too.

[DENVERPOPS]

92. Ask Martha

None of the top dogs EVER GET ANYTHING........they always blame a somewhat minor player or have some scapegoat below them to hang it all on......Read the factual book, THE INFORMER for just one account about the ADM Corporation's top executives outright corruption for years and years.......Spoiler: The FBI had a slam dunk case against ALL of the execs, and laughingly, the whistle blower got sent to prison, and the corrupt ones got off scott free.......

Ask Martha, there were TONS of insider men that made Millions and millions and millions never investigated, much less charged.
She did a 50K trade and ended up in Prison. I guess the Big Boys Club showed her, and all other women, not to meddle in the Men's gaming)

The "Powers To Be" (Rich powerful men's club) fortunes have been made this way for centuries.......

(And no, I am not a woman&quot

[C Moon]

89. Because it affects other rich people. If it only affected the poor, it wouldn't be enforced.

[SCantiGOP]

94. But if we didn't have the rich

we wouldn't have anybody to trickle down on us.

[avlbeerfan]

87. If ever there was..

A case of insider trading this is it. But laws are only for us not for them. "To big for jail!"

[dalton99a]

2. Spread this far and wide

[malaise]

14. CREW needs to find out how many other ReTHUGs sold stock

This is huge.

[muntrv]

3. Lock him up! Lock him up!

[ffr]

33. +1

Criminals! These elite motherfuckers!

[LittleGirl]

46. +2 eom

[OnDoutside]

4. Oh, that's going to buy him a whole heap of Chris Collins type trouble.

[BKDem]

50. Maybe it can buy him a couple of pairs of fucking socks.

ICYMI, this creep wears suits and wingtip shoes with no socks.

[OnDoutside]

90. Someone should send him ones with pointy up arrows on them.

[Midnight Writer]

5. And he tipped off business lobbyists in a private meeting.

"The rich go first...is kind of a pattern of life".

[Brother Buzz]

19. Oh, but he had a full two week head start

He dumped his stocks on the 13th of February, and the Fat Cat confab was on the 27th.

[littlemissmartypants]

6. Here's his phone number:

Senator Richard Burr

202-224-3154

Let's call and tell him how we feel about this.

[OnDoutside]

8. Better to send it to SDNY !

[littlemissmartypants]

11. I left a message on his voice mail asking for a presser

To explain this crooked behavior, quoting the article.

[OnDoutside]

7. Oh, and #ETTD

[NCDem47]

9. We know this guy is a dirt bag

But this is shady beyond belief.

He needs to answer for this. But of course he won't or give it some fluff response. Not up for re-election until 2022, but I think he said he would not run again.

Man this is bad. I hope the residents of NC shun this guy and he gets heat, heat, heat and this tars Tills (the other NC Senator) this election cycle by association.

[littlemissmartypants]

12. He announced that he's retiring. nt

[rurallib]

26. I hope it is in a nice little cell in a cozy federal prison

[littlemissmartypants]

30. Me too. The crooked bastard has flown under the radar for too long.

He's never been about the NC people and has taken real money from the NRA. Here’s his number if you want to call and give him an earful. Stay encouraged, rurallib. ❤

202 224 3154

[Sneederbunk]

40. Comfortably.

[littlemissmartypants]

44. His wife is loaded, so yes, he didn't need to work to start with.

I use the word work loosely. He's been a grifter his whole career. He's a smug, entitled SOB.

Call him up and let him know how you feel about this, 2022243154. I did.

[tblue37]

64. it just shady, but *brazen*! nt

[malaise]

10. Is there a single one of them who isn't a crook?

I wonder how many of the other well tar heeled members cashed in?

[OMGWTF]

28. NO!

[Tweedy]

55. On the R side?

If there is, that person or person(s) is in hiding or suffering daily indignities, twitter attacks and name calling (rino, etc.)

[barbtries]

13. same motherfucker

who told a circle of friends the truth about the pandemic 3 weeks ago but couldn't be bothered to protect his constituents.

NC republicans. the very worst thing about living in this state.

[keithbvadu2]

32. He protected his favorite constituents with early warning.

[G_j]

48. yes

agreed

[paleotn]

53. The are a rather pernicious bunch....

That whole 9th congressional district fiasco is a case in point.

[The Velveteen Ocelot]

15. Does that count as insider trading? Even if it doesn't, it's really sleazy.

[Caliman73]

35. It should.

It sounds exactly like what put Martha Stewart in prison. She got a call from the owner of IM Clone just before they announced some failure of testing that was going to tank their stock. She sold while the stock was still in good standing avoiding loss.

Sounds exactly like that. Burr abused his position on the Intelligence Committee to act upon information unknown to the public, to avoid stock losses. Sounds like insider trading to me.

[The Velveteen Ocelot]

41. I think it probably does.

As I understand it, illegal insider trading occurs when someone trades stock on the basis of confidential information not available to the general public and doesn't report the transaction to the SEC. I don't know whether he made the SEC report but he apparently used confidential information.

[Marcuse]

54. Barr will get right on it.

[The Velveteen Ocelot]

57. I'm sure he will.

[StarryNite]

16. Smarmy bastard!

Lock him up!

[Mersky]

17. K&R!!!

[Jamastiene]

18. Like I pointed out to someone in another thread. The NC GOP

is all corrupt to that degree. And Trump filled his admin with tons of them and tons of them in are higher up in charge of the national GOP.

For everything they get caught doing, I can guarantee you they have done 99 or more other things that they did not get caught doing.

Nothing NC Republicans do every surprises me. There is no low too low for them to stoop. They are beyond corrupt. They are completely rotten to the core and NEVER get punished EVER for anything they do. So, they will just keep doing that stuff until someone breaks up the cabal down here. I wish people would have listened to me when I first started noticing this shit. Maybe, eventually, someone will look into it.

[greenjar_01]

20. To be fair, this was all public information: any sensible person would know the virus was bad

by February 13. Burr just acted on it. Seems hard to say "Trump should have known by January at the latest" and "How could Burr sell off on February 13??"

Now, does he come off as an unethical dickhole? Yes, for sure. But a reasonable person with a sense of risk factors should have been selling on February 13. No?

[grantcart]

24. He is chairman of the Senate intelligence Committee. He had highly classified info that

Wasn't available to the public.

[greenjar_01]

27. If a prosecutor can prove that he sold on the basis of insider information, fine

But there was sufficient public information that would have told a prudent investor to liquidate by that date. China was in total lockdown. The virus was known and coming. No?

[grantcart]

82. No that is not the test

The test isn't what the public knew but what information he knew that the public didn't have.

We now know that the CIA medical threat department was providing much more drastic assessments at the time he was selling his stock.

[greenjar_01]

96. Well, looks like he's going with the "public news reports" defense

[KayF]

36. he sold a week before the big selloff started

this suggests he knew something the analysts didn't. Maybe exactly what will come out in a criminal case.

[greenjar_01]

43. I agree, but there's a case to be made that he saw the writing on the wall

without deploying or using any of that sweet, sweet Intel Comm sizzurp.

[Sneederbunk]

21. May want to check stock transactions by other committee members.

[dweller]

22. i hope they look into

Tillis and Meadows
too

✌🏼

[spanone]

23. The entire gop is rotten to the core.

[kimbutgar]

25. He should resign immediately

Can you imagine the outrage from the right wing media if a Democratic senator did that?

[ooky]

29. Susan Collins is concerned.

[malaise]

31. All of them need to be investigated

every single one of them

[ooky]

39. Yes. You can bet there are more of them who did what he did. nt

[MerryBlooms]

37. Doubtful. Check her fucking accounts!

[gibraltar72]

34. Department of Coincidences needs to look into this.

[kysrsoze]

38. That fucker belongs in prison.

[FiveGoodMen]

97. ...awaiting that final shot.

[MerryBlooms]

45. The way these assholes have written the laws, he

most likely didn't even break a law and will skate through with the millions. I don't know if I'm even angry or surprised. I'm just kinda Meh, figures. Same with all of them, they'll make millions off us dying, campaign off people donating billions, win reelection and make more millions. The money that has been spent on campaigns makes me want to vomit, especially now since even some politicians aren't even willing to slip US a few bucks because we're laid off. Fuckers.

[Wounded Bear]

47. How very swampy...

[lettucebe]

49. Insider trading much?

Hope this gets investigated and he goes straight to prison for insider trading. I'd thought these folks were not supposed to have stock holdings, for this exact reason.

[Pillow talk]

51. no repercussions. That's where we are. the question is.. how did we get here?

[FiveGoodMen]

98. Every time they cheated, we "looked forward"

That's how.

[Lars39]

52. Prison time for these assholes.

[PA Democrat]

56. K & R for visibility.

[beachbumbob]

58. but HER EMAILS!!!!!!!!!!!!!and what about Benghazi?

[GusBob]

59. LIHOP!

Need a new term
Let it happen on purpose to make money

[liberalmuse]

60. It's time to get rid of the stock market.

And this story is going to be all over the place. He needs to be ejected from the Senate and go to prison. I hope the lives of millions of Americans is worth it.

I think we need to check everyone on the Senate Intelligence committee who neglected to tell the American people that they'd better prepare for COVID-19. There are more heinous pieces of shit in the GOP than Burr, no doubt.

[dlk]

61. No doubt, the Barr Justice Department will get right on it

[dem4decades]

62. Is there any way to hold his feet to the fire?

[tblue37]

63. AOC (quite rightly) has called on him to resign. nt

[Jarqui]

65. Trump's delay in acknowledging the virus

may well have been to protect his rich pals - to give them time to dump their investments before the rest of the world did.

[WhiteTara]

66. He is such a criminal.

May he be caught and treated like the criminal he is.

[NBachers]

67. Republican ex-Congressman reports to prison on April 21st for insider trading. Burr needs to go too.

Democrat Nate McMurray is running to fill his open seat in western New York's 27th District. McMurray's election is set for April 28th. He's got a lot of support in his district. Our donations will help push him over the edge and give western New York the Democratic representation they deserve.

https://www.whec.com/livingston-county-ny-news/start-of-chris-collins-prison-sentence-delayed-to-april/5662588/

[Kyblue1]

69. Didn't Martha Stewart go to prison for much less? But she was a Democrat

[AllaN01Bear]

70. getting so fed up with this nonsense .

and they always seem to get away with it too also.

[trof]

72. YOU SON OF A BITCH!

That is the lowest form of grafting cheating repug politician.

[ecstatic]

73. Please tell me this is illegal.

[kairos12]

74. Massive insider trader. Put him in prison. You know that vampire Kushner

did the same thing.

[warmfeet]

75. So we all just put up with this?

Nothing to see here, right? Corruption is so normalized that nothing happens to perpetrators? This behavior is okay since no one gets punished. That is what makes it okay.

[Docreed2003]

77. Screw him...he should be held account under the rules instituted by Obama

Which he, coincidentally I'm sure, voted against!

[Peregrine Took]

78. I don't see this covered on cable news at all.

Is the SOB goona skate on this due to the virus news?

[dem4decades]

79. Morning Joe today said Burr was a friend, come on Joe, report on this! or r you still a Republican

[Evolve Dammit]

80. Indict, prosecute etc. Insider trading slam dunk. DOJ? Oh DOJ? Oh yeah. Barr is boss. Done.

Nothing to see here...

[Dem2theMax]

81. Hang the bastard.

In a public square, televised for all to see.

These people are evil incarnate. How in the world is money more important than the lives of human beings?

I don't think the Bang Your Head On The Wall Smiley will do anymore. I'm ready to go to the closest wall and actually start doing it myself.

[BigDemVoter]

83. FUCKING repigs. . .

Every goddamned single one of them.

[zentrum]

84. Swamp rat.

Insider Trading.

[Yo_Mama_Been_Loggin]

85. Can he be prosecuted for insider trading?

I'm not so sure in this case.

[McCamy Taylor]

86. Mitch will protect him

[ramen]

88. What a strange coincidence. It's almost as though HE FLAGRANTLY

ENGAGED IN INSIDER TRADING WHILE DECEIVING HIS ELECTORATE SORRY CAPS LOCK GOT STUCK FROM RAGE

[DallasNE]

91. Who Was In That "VIP Group" & How Much Stock Did They Dump

On insider information. They would all be subject to insider trading as well as Burr.

[CanonRay]

93. This fucker need to be in handcuffs

At least file an ethics complaint

[Gothmog]

95. Lock him up

Link to tweet

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[FiveGoodMen]

99. The money pales in comparison to the public health damage from not telling US about it right away