Vambo Posted March 20, 2020 Report Share Posted March 20, 2020 Sen. Richard Burr sold roughly $1.6M in stock before coronavirus crippled stock market, report finds Senate Intelligence Committee Chairman Richard Burr, R-N.C., may have cashed in before the stock market was in free fall due to the coronavirus outbreak, according to a new report. ProPublica alleged on Thursday that 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" in filings listed in the U.S. Senate Financial Disclosures website as he was regularly being briefed on the rising threat of the virus. Quote Link to comment Share on other sites More sharing options...
Vambo Posted March 20, 2020 Author Report Share Posted March 20, 2020 'DUMPED MILLIONS' Senator reportedly sold stock after closed-door coronavirus briefing Sen. Kelly Loeffler, R-Ga., has become the second lawmaker to have reportedly sold stock weeks before the coronavirus outbreak triggered a stock market downfall. The Daily Beast reported Thursday that Loeffler sold stock that was owned by her and her husband on Jan. 24, the same day she sat in on a closed-door coronavirus briefing as a member of the Senate Health Committee with the Trump administration, with Dr. Anthonly Fauci in attendance. According to the report, she sold stock in Resideo Technologies "worth between $50,001 and $100,000." The company's stock price "has fallen by more than half" since January. Quote Link to comment Share on other sites More sharing options...
calfoxwc Posted March 20, 2020 Report Share Posted March 20, 2020 I would think that's insider trading. Up to the lawyers/prosecutors. We'll see in the coming weeks/months. Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted March 20, 2020 Report Share Posted March 20, 2020 Well he's getting busted at a good time. Apparently were letting criminals out back onto the streets so no point in putting White Collar criminals in prison. 😏 Just for the record because all this virus shit has been pretty well common knowledge is it illegal and is it Insider? WSS Quote Link to comment Share on other sites More sharing options...
OldBrownsFan Posted March 20, 2020 Report Share Posted March 20, 2020 I am no fan of RINO Burr but there was already enough evidence by Feb 13 this coronavirus had the potential to be a serious crisis. I have never stockpiled supplies in my life but by that time I had stockpiled everything the CDC recommended for a flu pandemic. If owned stock I would have sold it. I don't know how anyone could have watched the leaked videos coming out of Wuhan China and not have been worried. Then when the reports came in that a person could have this virus for a number of days without symptoms while spreading it to others it seemed to me like this was going to almost be mission impossible to contain it. I went back to earlier thread about this virus and some of us were posting in late January how serious of a crisis this flu could be. On January 27 I posted that I saw that surgical masks were selling out and were in short supply. Posted January 27 Just checking I went to Walmart to see what is going on with surgical masks. Out of stock. Has the run on supplies needed for a flu pandemic already started? https://www.walmart.com/ip/Medical-Surgical-Face-Masks-500-Masks/104790359 Medical Surgical Face Masks (500 Masks) Average rating:4out of5stars, based on1reviews1 reviews Personal Touch $69.99 Out of stock https://www.zerohedge.com/markets/hurry-and-buy-them-hoarders-buy-it-n95-virus-masks-sell-out-across-us Here is why I would have sold stock and gotten out of the market. Posted January 27 Expert says coronavirus spreads before symptoms show as whistleblower claims 90,000 affected in China https://7news.com.au/news/health/expert-says-coronavirus-spreads-before-symptoms-show-as-whistleblower-claims-90000-affected-in-china-c-666302 What this means is all of the screenings and taking of temperatures etc...done at airports are not effective in keeping out this flu virus from coming into the United States. Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted March 20, 2020 Report Share Posted March 20, 2020 The good news is, according to a friend of mine who's an RN, most of the people who are wearing these things aren't doing it properly anyway so they're useless those instances. WSS Quote Link to comment Share on other sites More sharing options...
OldBrownsFan Posted March 20, 2020 Report Share Posted March 20, 2020 4 minutes ago, Westside Steve said: The good news is, according to a friend of mine who's an RN, most of the people who are wearing these things aren't doing it properly anyway so they're useless those instances. WSS I saw that too. I read where the surgical masks probably work best for a sick person to wear to keep from spreading virus vs. someone wearing a surgical mask to keep from getting the virus. Quote Link to comment Share on other sites More sharing options...
TexasAg1969 Posted March 20, 2020 Report Share Posted March 20, 2020 Two more senators also sold after the briefing, Dem Feinstein and Rep Inhofe. This is something I think we can all agree on. Either impeach them all (yes, you can do that to Senators) or prosecute them all for insider trading or both. Nothing worse than corrupt officeholders who reportedly hold the public trust. And I would not stop there because it looks as though some or all may have tipped off wealthy doners. Go after them all. https://www.bloomberg.com/news/articles/2020-03-20/senators-sold-stock-after-coronavirus-briefings-in-january Quote Link to comment Share on other sites More sharing options...
DieHardBrownsFan Posted March 20, 2020 Report Share Posted March 20, 2020 I'm pretty sure that would not be considerered insider trading. He just used his head. 1 Quote Link to comment Share on other sites More sharing options...
TexasAg1969 Posted March 20, 2020 Report Share Posted March 20, 2020 21 minutes ago, DieHardBrownsFan said: I'm pretty sure that would not be considerered insider trading. He just used his head. The implication was that they got detailed information about how this would affect the nation including the stock market. That makes it insider information. Quote Link to comment Share on other sites More sharing options...
OldBrownsFan Posted March 20, 2020 Report Share Posted March 20, 2020 1 hour ago, TexasAg1969 said: The implication was that they got detailed information about how this would affect the nation including the stock market. That makes it insider information. I think they should be investigated but I don't want to see anyone either democrat or republican get railroaded such as those calling for immediate resignations. https://www.redstate.com/elizabeth-vaughn/2020/03/20/1-2-3-4-senators-dump-stock-after-wuhan-virus-briefing-its-not-as-simple-as-that/ 1 Quote Link to comment Share on other sites More sharing options...
DieHardBrownsFan Posted March 20, 2020 Report Share Posted March 20, 2020 2 hours ago, TexasAg1969 said: The implication was that they got detailed information about how this would affect the nation including the stock market. That makes it insider information. That would be speculation. Quote Link to comment Share on other sites More sharing options...
TexasAg1969 Posted March 20, 2020 Report Share Posted March 20, 2020 3 minutes ago, DieHardBrownsFan said: That would be speculation. And an impeachment inquiry would find out exactly what it was and who else may be involved. Impeachment does not mean guilty as trumpy continues to boast. But it does mean you can investigate thoroughly and conduct hearings. Quote Link to comment Share on other sites More sharing options...
hoorta Posted March 20, 2020 Report Share Posted March 20, 2020 48 minutes ago, TexasAg1969 said: And an impeachment inquiry would find out exactly what it was and who else may be involved. Impeachment does not mean guilty as trumpy continues to boast. But it does mean you can investigate thoroughly and conduct hearings. Ag, you didn't need any insider information to know the market was going to take a serious hit. You couldn't count up the number of private investors who saw this coming and dumped their stocks. Quote Link to comment Share on other sites More sharing options...
Tour2ma Posted March 20, 2020 Report Share Posted March 20, 2020 11 hours ago, Westside Steve said: Just for the record because all this virus shit has been pretty well common knowledge is it illegal and is it Insider? Lot of circumstantial stuff around all of the Senators, but Burr is the one in the most jeopardy. While he publicly said in a published Op-Ed in I believe February that "we are better prepared.." etc. for the virus if it ca"me here, he was recorded telling a group of fatcat types that: RICHARD BURR: "There is one thing that I can tell you about this. It is much more aggressive in its transition than anything we have seen in recent history. It's probably more akin to the 1918 pandemic." That was information he was supposedly given in a classified briefing. And it is that dissemination of "material, non-public information" that hangs folks for insider trading. The above quote is from a transcript. The actual audio is out there somewhere. But presently there is nothing in the law that says a Congressman can't personally trade on info he here's. Is it seedy? Yup, but not illegal. Sen Imhoff was investigated a while back for the same thing and he's still serving as of now... but IIRC is retiring when his current term ends in 2021. 1 Quote Link to comment Share on other sites More sharing options...
JAFBF Posted March 20, 2020 Report Share Posted March 20, 2020 Can't leave these out. I'm sure there are plenty of others on both sides guilty of this. Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted March 20, 2020 Report Share Posted March 20, 2020 37 minutes ago, Tour2ma said: Lot of circumstantial stuff around all of the Senators, but Burr is the one in the most jeopardy. While he publicly said in a published Op-Ed in I believe February that "we are better prepared.." etc. for the virus if it ca"me here, he was recorded telling a group of fatcat types that: RICHARD BURR: "There is one thing that I can tell you about this. It is much more aggressive in its transition than anything we have seen in recent history. It's probably more akin to the 1918 pandemic." That was information he was supposedly given in a classified briefing. And it is that dissemination of "material, non-public information" that hangs folks for insider trading. The above quote is from a transcript. The actual audio is out there somewhere. But presently there is nothing in the law that says a Congressman can't personally trade on info he here's. Is it seedy? Yup, but not illegal. Sen Imhoff was investigated a while back for the same thing and he's still serving as of now... but IIRC is retiring when his current term ends in 2021. Not quite sure that I wouldn't do the same thing. No I'm not a politician but the bar slash/ restaurant I work at on Put-in-Bay is completely self-funded. The owners sell shares when they need money and pay it back at a good rate. No your share doesn't increase if the business does well what otoh you can always forfeit your interest and bail. Let's say I purchased a couple shares at 10 K apiece when I find out from an employee who talked to a manager and found out they were in deep trouble and going to close one of the properties. Or something like that. WSS Quote Link to comment Share on other sites More sharing options...
OldBrownsFan Posted March 21, 2020 Report Share Posted March 21, 2020 Even if RINO Burr escapes criminal responsibility I don't see him escaping the wrath of the voters of North Carolina. For now though he needs to be removed from his position in the Senate as chairman of the intel committee........it will be no loss with him gone https://thefederalist.com/2020/03/20/insider-trading-scandal-is-just-latest-reason-burr-should-be-removed-as-intel-chair/ Quote Link to comment Share on other sites More sharing options...
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