Thu Apr 2, 2020, 11:04 PM

FM123 (9,936 posts)

Kelly Loeffler sold at least $18 million more in stocks before the coronavirus crash than previously

(Vox) Sen. Kelly Loeffler sold at least $18 million more in stocks before the coronavirus crash than previously reported.
Loeffler is one of many lawmakers under fire for suspicious stock-trading activity following a coronavirus intel briefing.

Sen. Kelly Loeffler (R-GA) benefited from stock trades worth millions of dollars shortly before the general public was alerted to the severity of the Covid-19 crisis, selling off shares in industries that have been adversely affected by the coronavirus pandemic and buying shares of companies that have benefited, according to an Atlanta Journal-Constitution (AJC) report published late Tuesday.

Loeffler, who sits on the Senate Health Committee, first began selling stocks on January 24 — the same day that committee held a private all-members session on Covid-19 — and continued making trades in late February and early March.

According to her latest financial disclosure, which the senator provided to the AJC, her largest transaction involved the sale of $18.7 million in Intercontinental Exchange stock in three separate deals dated February 26 and March 11.

https://www.vox.com/policy-and-politics/2020/4/1/21202900/kelly-loeffler-stock-sales-coronavirus-pandemic

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9 replies	Author	Time	Post
Kelly Loeffler sold at least $18 million more in stocks before the coronavirus crash than previously (Original post)	FM123	Apr 2020	OP
So she knew about the dangers but GA's governer didn't?!?	BigmanPigman	Apr 2020	#1
+1	crickets	Apr 2020	#3
If the Republicans lose the Presidency and Senate in November.....	OAITW r.2.0	Apr 2020	#2
If you ever wonder how much is enough for the wealthy	gratuitous	Apr 2020	#4
Is the Justice Dept. giving Loeffler a pass on insider trading because her husband is president of	dlk	Apr 2020	#5
They're giving all the non-Burr Repukes a pass, at least as far as the headlines go.	RockRaven	Apr 2020	#8
I wonder if the statute of limitations will run before we have a Democratic administration	dlk	Apr 2020	#9
Her early sales were suspicious but the Feb 26 and March 11 transactions are not	onenote	Apr 2020	#6
She didn't just sell. She also BOUGHT certain stocks. Like Clorox.	RockRaven	Apr 2020	#7

Response to FM123 (Original post)

Thu Apr 2, 2020, 11:07 PM

BigmanPigman (49,418 posts)

1. So she knew about the dangers but GA's governer didn't?!?

Someone should see if Kemp dumped stocks too.

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Response to BigmanPigman (Reply #1)

Thu Apr 2, 2020, 11:13 PM

crickets (25,112 posts)

3. +1

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Response to FM123 (Original post)

Thu Apr 2, 2020, 11:08 PM

OAITW r.2.0 (19,107 posts)

2. If the Republicans lose the Presidency and Senate in November.....

there are a lot of Republicans going to jail. Too many lines have been crossed. They are in with Trump/Putin.

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Response to FM123 (Original post)

Thu Apr 2, 2020, 11:18 PM

gratuitous (81,192 posts)

4. If you ever wonder how much is enough for the wealthy

Here's your answer: It's never enough.

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Response to FM123 (Original post)

Thu Apr 2, 2020, 11:22 PM

dlk (10,527 posts)

5. Is the Justice Dept. giving Loeffler a pass on insider trading because her husband is president of

the stock exchange. One wonders...

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Response to dlk (Reply #5)

Fri Apr 3, 2020, 12:14 AM

RockRaven (12,845 posts)

8. They're giving all the non-Burr Repukes a pass, at least as far as the headlines go.

Headlines fueled by "on the condition of anonymity" sources. Access journalism all the way. Stories planted on purpose by people a) in the know and b) with an agenda, i.e. Trump and Barr toadies -- which in the case of Barr are exponential toadies.

And the agenda is burning Burr (who was not "Nunes" enough for Trump et al) whilst sparing the other GrOPers.

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Response to RockRaven (Reply #8)

Fri Apr 3, 2020, 07:36 AM

dlk (10,527 posts)

9. I wonder if the statute of limitations will run before we have a Democratic administration

The Republicans’ pervasive and even in-your-face corruption is a cancer that’s been eating away our democracy. It only gets worse over time.

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Response to FM123 (Original post)

Fri Apr 3, 2020, 12:03 AM

onenote (40,033 posts)

6. Her early sales were suspicious but the Feb 26 and March 11 transactions are not

Don't get me wrong -- her January transactions should be investigated and acted upon. But the facts are that her February 26 and March 11 transactions are unassailable.

By February 26, the market already had been on a downward trajectory for several days. (It peaked at 29,551 on Feb. 12 and was down to 27,081 (8.4 percent) at the close on February 25. And by March 11, the market was down to 25018 -- over 15 percent from its high a month earlier).

In other words, by the time these transactions took place, lots of people were being advised to dump certain stocks and buy others. I was receiving such advice from my financial advisor. And companies like Lulumon and TJ Maxx, which generally were doing even worse than the overall market, were obvious choices to be sold.

This doesn't get Loeffler off the hook for the sales that were made before the market slide. But if we start screaming to "lock up" anyone who made market-savvy trades after the market already was cratering, I bet we're going to find a bunch of Democrats did the same thing.

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Response to FM123 (Original post)

Fri Apr 3, 2020, 12:09 AM

RockRaven (12,845 posts)

7. She didn't just sell. She also BOUGHT certain stocks. Like Clorox.

I know the article includes mention of it, but the headline is missing half the story (or, b/c of the non-linear significance of accumulating evidence, more than half).

She is, more even than Burr, the person who ought to be in the sights of investigators. If we had a Department of Justice which was more focused on the justice part than the department part. Which we don't.

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