It pains me to write this because Def-Con News isn’t about dumping on Republicans, but then again we aren’t like liberal outlets who think their side can do no wrong. Two Republican Senators reportedly dumped millions of dollars in stock after a coronavirus briefing and ahead of the the economic collapse to follow. If true, this is seriously f*cked up and as far as I can see, there’s no reason to believe there’s a perfectly innocent explanation for this.
I can’t really say this is some liberal media propaganda or an unfounded attack by democrats because this comes from Fox News:
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.
This followed another report from NPR, which alleged that Burr warned “a small group of well-connected constituents” at a luncheon in late February about the potential impact of the virus, according to a secret recording of the conversation that was obtained.
“There’s one thing that I can tell you about this: It is much more aggressive in its transmission than anything that we have seen in recent history,” Burr said in the recording. “It is probably more akin to the 1918 pandemic.”
Fox News also reports that Burr wasn’t the only Republican Senator to log a major stock dump:
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 on Thursday that Loeffler sold stock that was owned by her and her husband and January 24, which was the same day she sat in on a closed-door coronavirus briefing as a member of the Senate Health Committee with the Trump administration, which Dr. Anthonly Fauci was in attendance.According to the report, she sold stock in Resideo Technologies “worth between $50,001 and $100,000,” whose stock price “has fallen by more than half” since January.
The report also claims that Loeffler and her husband sold jointly owned stock worth between $1,275,000 and $3,100,000 during the January 24 and February 14 timespan, according to filed transactions.
Her husband, Jeffrey Sprecher, is the chairman of the New York Stock Exchange.
The original sources for both of these reports are from liberal outlets, but neither Senator is denying that they sold millions in stocks to avoid taking major losses, so let’s assume this it true. Considering both of them are U.S. senators who attended a briefing on the severity of the coronavirus and then proceeded to sell off their stocks, let’s also assume this is insider trading.
This is bad enough that Tucker Carlson is calling for at least Richard Burr to resign and be prosecuted:
Tucker Carlson calls for Senator Burr to resign and await prosecution for insider trading if he cannot provide a reasonable explanation for his actions. He goes on to say it appears that Senator Burr betrayed his country in a time of crisis pic.twitter.com/q7yJa5wjuA
— Acyn Torabi (@Acyn) March 20, 2020
If these were democrats doing this, and democrats probably did the same thing it just hasn’t been reported, I would be furious and be calling for them to be thrown in prison. I’m not a liberal hypocrite and wrong is wrong no matter who does it. If Burr and Loeffler exploited their inside knowledge on the coronavirus to save their fortunes, they need to go.
