Sens. Richard Burr, Kelly Loeffler Face Calls to Resign Over Stock Sales

[Celerity]

https://www.msn.com/en-us/news/politics/sens-richard-burr-kelly-loeffler-face-calls-to-resign-over-stock-sales/ar-BB11sd6r

Senators Richard Burr and Kelly Loeffler have faced calls to resign after it was revealed that the Republican lawmakers sold off stock holdings before the COVID-19 epidemic crashed markets. Both of the senators reportedly attended briefings on the novel coronavirus outbreak and publicly sought to calm nerves as they dumped chunks of their portfolios ahead of market turmoil in March.

ProPublica reported on Thursday night that North Carolina Sen. Burr, the Senate Intelligence Committee chairman, sold between $628,000 and $1.7 million worth of stock on February 13. The stock dump came days after he co-authored a Fox News op-ed claiming the United States was "better prepared than ever before to face emerging public health threats, like the coronavirus."

Following the news of Sen. Burr's stock sell off, the Daily Beast reported that Sen. Loeffler of Georgia recorded a sale of stock on January 24 — the day of an all-senators briefing with administration health officials that covered the COVID-19 outbreak. In a Thursday night Twitter post reacting to the news of the stock dumps, former Democratic primary candidate Andrew Yang said: "If you find out about a nation-threatening pandemic and your first move is to adjust your stock portfolio you should probably not be in a job that serves the public interest."

"Burr knew how bad it would be. He told the truth to his wealthy donors, while assuring the public that we were fine," Rep. Alexandria Ocasio-Cortez (D-NY) tweeted on Thursday. "THEN he sold off $1.6 million in stock before the fall. He needs to resign." The freshman congresswoman also called on Sen. Loeffler to resign over her stock dump in a later tweet.

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[MartyTheGreek]

1. So that means Trump knew of the seriousness too and lied during the early briefings?

Can someone match up the dates? Someone that tracks this stuff closely? This truly shows their black hearts!

[Bernardo de La Paz]

3. Check the dates in this WaPo vid compilation, includes Kudlow (check him too)

Link to tweet

[Bernardo de La Paz]

2. Sen Johnson (R) reportedly sold $25 million of $36 million net worth. Not ordinary or small sale. nt

[Celerity]

5. this is NOT what I want it to be, but here is a Rawstory (hardly Rethug friendly) article on it

GOP’s Ron Johnson sold equity before the market crash — but it doesn’t appear to be related to coronavirus outbreak

https://www.rawstory.com/2020/03/third-gop-senator-caught-dumping-stock-before-the-market-crash-this-time-up-to-25-million-worth/

Questions have been raised about Sen. Ron Johnson (R-WI) selling stock before the onset of the coronavirus crisis in the United States. But the financial transaction does not appear to be related to the outbreak of the deadly virus.

On Monday, March 2nd, the Dow Jones Industrial Average set its biggest-ever point gain. But Sen. Ron Johnson (R-WI) was massively selling. Johnson, who has a net worth estimated at over $36 million, made a major transaction.

Link to tweet

The report of Johnson’s sale came shortly after Sen. Richard Burr (R-NC) and Sen. Kelly Loeffler (R-GA) came under fire for their dumping stock before the market crash. Burr and Loeffler had received briefings on the coronavirus outbreak prior to selling. Unlike Burr and Loeffler, Johnson is not a member of Senate health or intelligence committees.

Link to tweet

Johnson’s sale was reportedly related to a family business which is not publicly traded on an exchange.

Link to tweet

Johnson’s sale was reportedly announced February 11th, and had been in the works for months.

[Bernardo de La Paz]

6. Thanks for providing some background re sale planned for months. . . . nt

[Celerity]

7. yw

[Bernardo de La Paz]

4. Burr one of three Sen to vote against Insider Trading law STOCK act in 2012. . . . nt

[DarthDem]

8. Good info

Link for that so I can share it? Thanks.

[Bernardo de La Paz]

9. Burr (R), Bingaman (D), Coburn (R). Kirk (R) was "not voting"

Measure Number: S. 2038 (Stop Trading on Congressional Knowledge Act of 2012 )
Measure Title: An original bill to prohibit Members of Congress and employees of Congress from using nonpublic information derived from their official positions for personal benefit, and for other purposes.

https://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=112&session=2&vote=00014

[DarthDem]

10. Thank you!

So three Republicans (one retired, one defeated) and one Democrat (also retired). Burr is the only one left in the Senate who voted against it.