GOP eager to hear from Senate colleagues
on stock sales before COVID-19 hit
Washington Times,
by
Alex Swoyer
Original Article
Posted By: Ribicon,
3/20/2020 11:14:34 AM
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.(Snip) Mr. Burr’s sales came just prior to a speech he gave in February
Better check on the Democrats also, no expulsion as it could hand control of Senate to the enemy, (D)
6 people like this.
Reply 2 - Posted by:
justavoter 3/20/2020 11:29:15 AM (No. 352078)
In the words of Rooster Nester, the southern fried feather duster, "I say, I say, I say, boy, dem stocks is all in a blind trust, I couldn't sell one a dem tangs if I wanted to. What chu say, boy"
Believe that and I got a trailer truck load of toilet paper to sell ya.
3 people like this.
Reply 3 - Posted by:
BillW. 3/20/2020 11:35:35 AM (No. 352087)
And Chuckie is getting away with threatening the Supreme Court.
8 people like this.
Reply 4 - Posted by:
HotRod 3/20/2020 11:40:42 AM (No. 352093)
Is now the best time to address that? It's important, but there are more pressing matters. The statute of limitations will ensure that insider trading investigations and punishment will be available for a pretty long time.
2 people like this.
Reply 5 - Posted by:
MDConservative 3/20/2020 11:43:32 AM (No. 352097)
"Lawmakers are expected to live by the law." That's a hot one!
9 people like this.
Reply 6 - Posted by:
Jesuslover54 3/20/2020 11:51:35 AM (No. 352113)
Didn't we hear some time ago that members of Congress are exempt from insider trading when they learned stuff about market moves in the course of their Congressional activities?
I seem to recall that there was a move to cancel that perk but probably never happened.
2 people like this.
Reply 7 - Posted by:
DaddyO 3/20/2020 11:58:36 AM (No. 352121)
A lot of people dumped stock as the markets tanked. I don't judge anyone for looking after their own interests, although I would be happier if they stayed.
2 people like this.
Reply 8 - Posted by:
Skeptical1 3/20/2020 12:10:09 PM (No. 352138)
It's easy to get people mad, and hard to get them to look at and think about the evidence. Did the government really have some kind of secret knowledge about the epidemic that other people didn't have? Do these big-shot senators really make their own investment decisions, or are they made by high-priced financial advisors? Personally, I've been uneasy about the market for a long time, and if I weren't a "buy and hold" style investor, I might have made the same trades even without the benefit of a secret briefing. On the other hand, it does seem possible that intelligence agencies had some secret knowledge about the price war between the Russians and Saudi's. If somebody was trading energy stocks, that might look suspicious.
0 people like this.
Reply 9 - Posted by:
whyyeseyec 3/20/2020 12:25:59 PM (No. 352161)
@#4 - Yes, now is the time to pounce!! Nobody is going to look at nefarious stock sales at a later date. Senator's will claim they're going to look into it but they won't. Justice delayed is justice denied.
6 people like this.
Reply 10 - Posted by:
hershey 3/20/2020 12:46:19 PM (No. 352180)
I'm thinking now is the time to by when prices are low....
2 people like this.
Reply 11 - Posted by:
NYbob 3/20/2020 4:18:58 PM (No. 352438)
People are envious of anyone who timed the market, but did you really think a 5,000, 10,000 run up in the market wasn't going to get a haircut? Did you think the Fed writing itself blank checks to float the dollar into 'unexplored territory,' for the last 10 years would not ever be questioned by a crisis? If you are an investor now is the time to buy some stocks you have been following, or at least watching them very closely. If you are retired and depending on stocks I hope you enjoyed the very unusual explosion in the market, but you didn't take any profits during the march up from 11,000 DOW? Over 60 is the time to balance the portfolio, but with a hot market I guess it is harder. Just don't cry because things are off peak. It's a rollercoaster, not a smooth, endless, Duquesne Incline.
The real lesson here is, anyone with investment savings should think seriously about using the investment firms these senators are using.
0 people like this.
Reply 12 - Posted by:
judy 3/20/2020 5:16:55 PM (No. 352492)
According to Fox News 4 are involved...Burr, Inhoff, Feinstein & Kelly the appointed Senator
1 person likes this.
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Dump all your hotel stocks just in the nick of time? Crafty.