Burr, who sold stock before pandemic, voted in 2012 against banning insider trading for Congress

[babylonsister]

Sen. Richard Burr, who sold stock before pandemic, voted in 2012 against banning insider trading for Congress
Timothy Bella
March 20, 2020 at 5:22 a.m. EDT


Sen. Richard Burr (R-N.C.) thought little of the 2012 bill that would ban insider trading for Congress, congressional staff and other federal officials.

“It’s ludicrous,” Burr said in a February 2012 radio interview about the Stop Trading on Congressional Knowledge (Stock) Act

.

The bill, aimed at prohibiting stock trading based on nonpublic information gleaned on Capitol Hill, overwhelmingly passed in the Senate by a 96-to-3 vote before being signed into law by President Barack Obama. Burr, one of the three senators to vote against the measure, described himself as a “brave soul” for going against the bill, according to a transcript of the radio interview posted to his Senate website.

“I mean, it’s insane,” he said of the insider-trading legislation for members of Congress.

His sentiments from eight years ago have become relevant again after Thursday’s report that Burr sold a significant share of his stocks last month before the coronavirus outbreak upended the markets.

more...

https://www.washingtonpost.com/nation/2020/03/20/coronavirus-richard-burr-stock/

[3catwoman3]

1. Pardon me while I...

...do NOT faint from shock.

[BKDem]

2. Lock him up! Lock him up!

Say it with me. Lock him up!

[GusBob]

3. He needs to be brave now for sure

Torches and pitchforks time

When we gonna get a comment from this jackhole

[ProfessorGAC]

4. While I Agree, Burr Was Slimy...

...is this really what that law was about.
Not a lawyer, but having worked in mgmt for a couple large publicly traded companies, I thought the law was about having material, non- public information.
By February, wasn't the risk of COVID19 public knowledge?
I'm not defending Burr, by any means but unless the 2012 law is different than the insider laws that affect employees & execs, not sure he would lose in court.

[denbot]

7. You are defending the indefensible.

What the public was being told by those in authority was that “this will disappear”, “hoax”, “politically motivated” et al.

That is what was public knowledge disseminated through our government at the time he dumped his stock.

[ProfessorGAC]

8. I'm Defending Nothing

Read more carefully. I specifically said I wasn't defending.
I'm questioning whether he can be prosecuted.
What part of me calling Burr slimy, in the title of my post, escaped you?

[denbot]

10. I guess if you stuck a gun in a tellers face but declared it wasn't a robbery.

Hey, it wasn’t a robbery.

[TreasonousBastard]

5. "Brave soul" my rosy red ass-- he's just a lowlife thief.

[Chainfire]

6. Oh come on people

It is just good business. Why would anyone want to serve without perks?

[MFGsunny]

9. Grifter is as grifter does. Not shocked anymore, but STILL ashamed he calls himself an American. n/t