Looks like we might have some insider trading taking place after a meeting where senators discussed the coronavirus situation, then all of a sudden at least four of them were found to have sold their stocks right before the market crashed.
So far the names are Dianne Feinstein, Richard Burr, Kelly Loeffler, and James Inhofe - 1 Democrat and 3 Republicans.
Keep in mind these are the only Senators who have been caught so far and there could be more, but always wait for the confirmed reports before naming anyone.
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Where does the information come from? It's apparently listed on a U.S. Senate website in which financial disclosures are made from members of the Senate.
Here's the juicy part of the disgusting act of selling stocks while making it seem like everything is OK, but it's not.
Feinstein and her husband sold "between $1.5 million and $6 million in stock in California biotech company Allogene Therapeutics, between Jan. 31 and Feb. 18, The New York Times reported.
When questioned by the newspaper, a spokesman for the Democrat from San Francisco said Feinstein wasn’t directly involved in the sale."
If anyone believes that Feinstein had no idea her stocks were being sold, that's a bunch of Joe Biden malarkey if you ask for my opinion.
Burr, one of the first to be caught, had "used more than 30 transactions to dump between $628,000 and $1.72 million on Feb. 13, according to ProPublica."
Burr then went on Twitter to act like he didn't do anything wrong and that NPR did a hit piece on him. Actually, Burr is just a huge slimeball who participated in a coronavirus meeting, made it seem like the market would be fine (by not telling everyone it probably wasn't) and then he sold off his stocks right before the market crashed.
MSN continued, saying that "Loeffler and her husband, Jeffrey Sprecher, chairman of the New York Stock Exchange, sold stock Jan. 24, the same day she sat in on a briefing from two members of Trump’s Coronavirus Task Force, The Daily Beast reported."
They dumped between $1.2 million and $3.1 million in stocks, but then bought some stocks in software that allows people to work from home. If that doesn't say "I know exactly what I am doing and why" then you are just clueless.
She purposely sold her other stocks, then bought stocks supporting a company that helps people work from home, knowing people would probably get stuck working from home. That wasn't a smart choice, that was deception to the American people. I believe she knew exactly what was going on and there's really no way to defend this.
But woe is me. Here goes Loeffler with her defense. It's never them, right? It's always someone else doing it.
She said about the Daily Beast article, "This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband's knowledge or involvement."
Find me one person who owns that much money in stocks and doesn't know what's going on. Give me a break, lady!
When it comes to Imhofe, it seems like he's just kind of an idiot. He sold "sold as much as $400,000 in stock all on Jan. 27, in companies such as PayPal, Apple and real estate company Brookfield Asset Management, The New York Times reported."
First of all, PayPal and Apple will always bounce back if they ever drop. That was a bad sell. PayPal will always make money and Apple sells phones for the cost of a mortgage payment, so they will always be fine. The real estate company, not so sure about that. Either way, this guy is the lesser of four evils.
All quotes in this article are from the much more detailed report on MSN.
Senate financial closure data can be discovered at this link.
As for the four Senators selling their stocks, they should all resign immediately as they are a disgrace to the country.
I don't care what political party you represent. If you're selling stocks while letting the American people believe the market will be fine, then you're deceiving us and withholding information that would've let some of us make the same financial decision for our own family.
This does not belong in our government.