The next time you are grocery shopping and feeling a nervous because some kitty litter and three expired cans of lima beans are the only things left on the shelves, just take a deep breath and relax. Senators Richard Burr (R-NC), Kelly Loefner (R-GA), Ron Johnson (R-WI), Jim Inhofe (R-OK) and Dianne Feinstein (D-CA) are going to be okay! Thanks to a closed-door briefing they attended in January (a meeting you were not invited to), they were able to make some quick stock sales and shore up their fabulous wealth before the American economy was crippled by coronavirus. They’re going to be fine!
Dianne Feinstein led the charge by selling almost $6 million in stocks before the market started tanking a couple of weeks later. The rest of the Senators all managed to preserve between $1 and $5 million apiece by using their special-access insider information.
This is, of course, felony “insider trading” and a violation of the federal STOCK Act. All of the dopes on TV who were quick to accuse Donald Trump of “treason” over a phone call to the Ukraine president last summer should maybe update their dictionaries after this. Can you think of a more disgusting betrayal of one’s own country during a time of national crisis than what these senators did?
They took information that they were privy to because of their political positions. And rather than running for the nearest microphone and sounding the alarm for the American back in January, they rushed to save their own wealth. They sold stocks that tanked as a direct result of the Chinese virus outbreak, while talking up the economy and telling Americans not to worry.
Trump-hating weirdo Richard Burr sold about $1.7 million worth of hotel stocks immediately after he learned about the dangers of the Chinese virus. Burr was already one of the most disliked members of the US Senate, partly because of his weirdness and partly because of his constant dishonesty.
As for the weirdness, he once climbed out the window of his Senate office to avoid an interview with a reporter. What kind of adult behaves that way? And let’s not forget that as chairman of the Senate Intelligence Committee, Burr used his power to prolong the Russian collusion hoax by continuing to investigate President Trump’s family long after the rest of America realized there was nothing to the hoax.
Kelly Loefner just so happens to be married to the chairman of the New York Stock Exchange. Between the day of the Senate’s private January briefing and mid-February, she and her husband suddenly made 29 stock trades. They sold stocks that tanked after the virus panic started to get really bad. They also suddenly purchased a quarter of a million dollars’ worth of stock in a telemedicine software company; that stock went up.
Loefner, Burr and the others are now claiming that they have their stocks set up in blind trusts and insist they did nothing wrong. How could anyone believe that?
Loefner sent out a tweet on March 10 that read, “Concerned about #coronavirus? Remember this: The consumer is strong, the economy is strong, & jobs are growing, which puts us in the best economic position to tackle #COVID19 & keep Americans safe.”
By that point, she had already sold off stocks that had been devastated by the Chinese virus and bought stocks in companies that were suddenly flourishing because of the bug. Burr wrote an op-ed about how everything was hunky-dory, and we were all safe after he preserved his own wealth by dumping stocks with insider information.
Phew! I’m glad those guys are okay!
The backlash to the Chinese virus panic is going to be furious. Politicians who are shutting down the greatest economy in the world don’t seem to realize just how bad things are getting out here in real America. Their palaces are not going to save them from the retribution they deserve if these shutdowns last much longer.
I don’t care if these senators are Democrats or Republicans. What they did was disgusting and there is no excuse for their actions. All 100 US Senators were in that late-January briefing. Five of them (that we know of so far) took decisive action to save themselves at the expense of the country.
They must resign and face criminal charges for insider trading immediately. If they don’t resign and are not investigated and prosecuted for this, Washington, DC may be surprised by the fury that’s boiling out here in heritage America right now.