(AmericanProsperity.com) – Members of Congress are under scrutiny for dumping stocks before the government took measures to handle the coronavirus pandemic. They’re being accused of insider trading practices that allowed them to rake in millions of dollars weekly before the stock market crashed. If true, this is a serious problem.
The Senators in question are:
- Richard Burr (R-NC)
- Kelly Loeffler (R-GA)
- Dianne Feinstein (D-CA)
- James Inhofe (R-OK)
They sold as much as $11 million in stocks potentially based on insider trading tactics. House members and their senior staff are also under scrutiny by the media. Reports suggest the elected officials in question publicly expressed optimism over what COVID-19 could do to the economy, but privately expressed alarm.
North Carolina Attorney General Josh Stein has called for an investigation into Burr’s activities.
Last week’s reports about Sen. Burr’s decision to unload some of his stock holdings before the stock market crashed are extremely troubling. The people of North Carolina deserve ethical and law-abiding public officials. 1/https://t.co/tEW44T8iy5
— Josh Stein (@JoshStein_) March 24, 2020
Burr was recorded in mid-February telling constituents that the pandemic was more aggressive than anything in recent history. On Monday, Burr was sued by shareholders of Wyndham Hotels and Resorts alleging he had insider information and sold his shares to protect his profits.
In 2012, Congress passed the STOCK Act to prevent members of Congress from profiting off non-public information they learn as government officials. Burr voted against the legislation.
It will be interesting to learn the facts… if we ever get them.
~Here’s to Your Prosperity!
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