Tuesday, September 29, 2020
Please share
  • 28
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
    28
    Shares

GOP eager to hear from Senate colleagues on stock sales before COVID-19 hit

Must Read

Watch: Springdale teacher...

[youtube https://ww...

Watch: LRSD moves forward...

[youtube https://ww...

Watch: conway thief

[youtube https://ww...
Please share
  • 28
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
    28
    Shares

GOP eager to hear from Senate colleagues on stock sales before COVID-19 hit

Republicans are eager to hear from Senate colleagues who sold stock shares before the spread of the COVID-19 pandemic that sent the economy spiraling south.

Sen. John Barrasso, Wyoming Republican, said Friday lawmakers are expected to live by the law.

His comments come after a report emerged that Sen. Richard Burr, North Carolina Republican, and Sen. Kelly Loeffler, Georgia Republican, sold off stock interests in February ahead of the Dow taking a plunge due to the economic upheaval caused by quarantines and fear of the virus spread.


SEE ALSO: Sens. Richard Burr, Kelly Loeffler sold stock before steep market losses from coronavirus


Sen. Dianne Feinstein, California Democrat, has also been accused of selling off interests before the market crash.

“I expect to hear from each of them today,” Mr. Barasso told “Fox & Fridays.”



Mr. Burr, who chairs the Senate Intelligence Committee, sold about $1.7 million in January and February, according to The Associated Press. Several of the stocks were in hotel industry companies.

Pro Publica and The Center for Responsive Politics first published the information.

Mr. Burr’s sales came just prior to a speech he gave in February where he predicted schools would close and travel would be curtailed due to the coronavirus. The audio of the speech was released by National Public Radio.

The AP reported there is no information that Mr. Burr had inside information, and his committee did not have any briefings during the week when the stocks were sold.

Mr. Burr took to Twitter to blast the “tabloid-style hit piece,” saying NPR misrepresented his speech and that he relayed public information during his remarks.

“The message I shared with my constituents is the one public health officials urged all of us to heed as coronavirus spread increased: Be prepared,” Mr. Burr said.

Ms. Loeffler, who is up for reelection, sold off stock in January as lawmakers were being briefed about the crisis. She has dismissed allegations of wrongdoing.

“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,” she said on Twitter. “As confirmed in the periodic transaction report to Senate Ethics, I was informed of these purchases and sales on February 16, 2020 — three weeks after they were made.”

The New York Times, meanwhile, reported that Ms. Feinstein, the top Democrat on the Judiciary Committee, sold off between $1.5 milliion and $6 million in a California biotech company in January and February.

Her spokesperson dismissed any wrongdoing.

“All of Senator Feinstein’s assets are in a blind trust,” said Tom Mentzer, Ms. Feinstein’s spokesman. “She has no involvement in her husband’s financial decisions.”

The Associated Press contributed to this report.

Sign up for Daily Newsletters

- Advertisement -GOP eager to hear from Senate colleagues on stock sales before COVID-19 hit
- Advertisement -GOP eager to hear from Senate colleagues on stock sales before COVID-19 hit

Latest News

video

Watch: Springdale teacher...

[youtube https://ww...
video

Watch: LRSD moves forward...

[youtube https://www.you...
video

Watch: conway thief

[youtube https://www.you...
video

Watch: 12 cars broken int...

[youtube https://www.you...
video

Watch: Haunted house chan...

[youtube https://www.you...
- Advertisement -GOP eager to hear from Senate colleagues on stock sales before COVID-19 hit

More Articles Like This

- Advertisement -GOP eager to hear from Senate colleagues on stock sales before COVID-19 hit