One of Loeffler’s 2 purchases was stock worth between $100,000 and $250,000 in Citrix, a technology company that offers teleworking software and which has seen a small bump in its stock price since Loeffler bought in as a result market turmoil. As a longtime Senate staffer, I helped draft the Stop Trading On Congressional Knowledge Act, or the STOCK Act, which was designed to apply in situations just like this. Senator Dumped Up to $1.7 Million of Stock After Reassuring Public About Coronavirus Preparedness Congress should consider prohibiting significant outside business activities for all members, and limit any securities trading to diversified funds, with all trades first precleared by an appropriate ethics office. When the headline is *shocking* but you keep reading and: Imagine caring so little for your constituents that you publicly praise the Trump administration's coronavirus readiness—thereby feeding them false assurance—all the while running a million-dollar firesale of your stocks. They dumped stock. Here's what you need to know. Republican senator from Georgia dumped stock after senate briefing, at the same time tweeting that the economy is strong and democrats over-hyping Coronavirus. This Certifies your purchase of 1 hour of English tutoring credit. There is great satisfaction in relationships and growth that result from these settings. ", Not one but two Republican senators tonight get caught dumping their stock portfolios based on information only available to them and just before the coronavirus pandemic tanks the entire market. Elementary School Math tutoring for 1 hour $ 38.00. Sen. Kelly Loeffler (R) dumped more than $1 million worth of stock after a coronavirus briefing. Nobody with whom I spoke— on either side of the political aisle—disagreed. Congressional filings show that some members sold millions of dollars in investments, while another sold a very significant percentage of his total net worth and privately issued a grave warning to wealthy donors while publicly taking a much more sanguine tone. Sen. Kelly Loeffler Dumped Millions in Stock After Coronavirus Briefing. In other words, she violated the STOCK Act, and was insider trading, because pulling money out of tourism and putting it into tele-working is an AMAZING coincidence. She also purchased several stocks during this period, including Citrix, which produces teleworking software and could have been impacted by the coronavirus outbreak.". I am not in a position to judge whether the recent transactions by some senators violated the STOCK Act or, for that matter, other federal laws or ethics rules. For any one on one private sessions in either of these areas, please email me at stockrk@hotmail.com to schedule sessions. Senators got a private briefing from heads of CDC and NIH in January. Senator Kelly Loeffler (R-GA) has been accused by various media outlets of profiting off of inside government knowledge of the virus. Profitable trades … The Daily Beast: Republican Sen. Kelly Loeffler sold off seven figures worth of stock holdings in the days and weeks after a private, all-senators meeting on the novel coronavirus that subsequently hammered U.S. equities. Brent Bozell: NY Post's Hunter Biden story censored by Facebook, Twitter -- Big Tech votes for Biden, New polls in key battlegrounds raise concerns for Trump, Trump targets suburban women at Pennsylvania rally, Mötley Crüe drummer Tommy Lee plans to leave US if Trump wins re-election. The law clearly and directly imposes a duty on government officials to not trade while in possession of material, nonpublic information “derived” from their positions or “gained in the performance” of their jobs. How US Senators used insider information on #coronavirus to enrich themselves by selling stock, Sen. Kelly Loeffler (R-Ga) Dumped Millions in Stock After Coronavirus Briefing, "Sen. Kelly Loeffler (R-GA) reported the first sale of stock...on January 24, the very day that her committee, the Senate Health Committee, hosted a private, all-Senators briefing from administration officials, including the CDC Director and Anthony Fauci", Sen. Kelly Loeffler Dumped Millions in Stock After Coronavirus Briefing - The Daily Beast. SEN BURR SEEKS ETHICS REVIEW OF HIS STOCK SALES IN RUN-UP TO CORONAVIRUS CRISIS, AFTER SCATHING REPORT, "I relied solely on public news reports to guide my decision regarding the sale of stocks on February 13,” Burr said in a Friday statement defending himself. Senator Kelly Loeffler, the wealthiest member of Congress, also dumped millions in stock after the coronavirus briefing. “The 15 stocks Loeffler reported selling have lost more than a third of their value since she reported offloading them. #InsiderTrading. The STOCK Act is a useful tool to combat corruption, but it isn’t sufficient. They were all selling their stocks. The Georgia Republican is the second senator who has gotten rid of their holdings right as the stock market went bad. The latest coronavirus controversy shows why members of Congress shouldn’t be allowed to trade stock at all. . More evidence for what I've been saying: The Republican Party is an organized crime syndicate, not a political party. Clients are required to pay in advance for courses when they register. The same should obviously hold true for governmental insiders. Show more. According to Roll Call, Burr's net worth was approximately $1.7 million in 2018. LOCK HER UP: Again: Today we learned that not one but two U.S. senators sold stocks after receiving briefings on the coronavirus threat. Dianne Feinstein, D-Calif., and Jim Inhofe, R-Okla., sold large amounts of stock before the market crashed due to concerns about the coronavirus, igniting accusations from critics of possible insider trading. Only comparable thing I recall- in terms of clear corruption- is those ABSCAM videos from 1970s of Congressmen taking bribes on camera. 1000000 in stock. Ultimately, the STOCK Act overwhelmingly passed both chambers of Congress and was signed into law on April 4, 2012. , not-yet-public deal does n't make those financial decisions of Congressmen taking bribes on camera political Party s name the... Misusing the material, nonpublic information—commonly called insider trading—is illegal Sign and send the:!, ” Bookbinder said easily learn about potential abuses, and if any laws broken! 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