Senators Cashed in Their Stocks Before the Crash After Private Coronavirus Briefing
Certain stories that are coming out in the wake of the coronavirus spread make you wonder just how cruel and ghoulish people can be. Senator Kelly Loeffler’s actions are absolutely reprehensible. Can you believe that she was briefed on the coronavirus before the spread had become truly difficult for citizens to cope with?
Instead of taking the information that she was given and informing others, she decided to enrich herself and it is shameful. She deserves every last bit of scorn that she is going to receive for what she done. She even tweeted on January 24 about her constructive meeting with President Trump and acted as if we had nothing to worry about.
According to the Daily Beast:
The Senate’s newest member sold off seven figures worth of stock holdings in the days and weeks after a private, all-senators meeting on the novel coronavirus that subsequently hammered U.S. equities.
Sen. Kelly Loeffler (R-GA) reported the first sale of stock jointly owned by her and her husband on Jan. 24, the very day that her committee, the Senate Health Committee, hosted a private, all-senators briefing from administration officials, including the CDC director and Anthony Fauci, the head of the National Institutes of Health of the United States, on the coronavirus.
That first transaction was a sale of stock in the company Resideo Technologies worth between $50,001 and $100,000. The company’s stock price has fallen by more than half since then, and the Dow Jones Industrial Average overall has shed approximately 10,000 points, dropping about a third of its value.
It was the first of 29 stock transactions that Loeffler and her husband made through mid-February, all but two of which were sales. One of Loeffler’s two purchases was stock worth between $100,000 and $250,000 in Citrix, a technology company that offers teleworking software and which has seen a small bump in its stock price since Loeffler bought in as a result of coronavirus-induced market turmoil.
She began to sell off her stock that same day! If there was nothing to worry about, why would she start to sell everything off? She is the second Senator to have sold their stocks in anticipation of the coronavirus pandemic. Senator Richard Burr also alleged to have sold off nearly $2 million in hotel stocks before the coronavirus panic had the chance to strike.
Burr emulated Loeffler’s actions by reassuring the general public about the coronavirus while quietly dumping stocks. Senators are supposed to be operating in the interest of the general public and instead, they are only looking to line their own pockets. The stocks that Loeffler sold went into the tank soon after, with their prices dropping by at least half.
Appreciate today’s briefing from the President’s top health officials on the novel coronavirus outbreak. These men and women are working around the clock to keep our country safe and healthy. #gapol https://t.co/5866TrrEFc
— Senator Kelly Loeffler (@SenatorLoeffler) January 25, 2020
To make matters even worse, Loeffler even purchased stocks that she believed would rise in the wake of the panic. You have to be one soulless person to view the world in this way. These are the people who have been elected and given the chance to hold public office. Unfortunately, they also hold American lives in their hands and there is very little that can be done now.
The time for action has come and gone. We are now going to have to play catch up as we untangle all of the webs of lies that were woven when we were not looking. How did Kelly find the gumption to stand in front of the public and flat out lie about what was actually taking place? She was downplaying the issues that would be caused by the coronavirus while preparing herself for them.
Loeffler was assuring everyone that the economy was strong as she was dumping stock and quietly preparing to collect more money once the panic set in. She should be jailed for this behavior and so should any public official that chose to use their advance knowledge for their own personal gain.
Americans deserve better than senators who are not looking out for them and willing to allow their families to perish. Heartless decisions like these come with serious consequences and we hope that these senators are brought to justice as quickly as possible. Otherwise, this sort of behavior is going to continue to run rampant and we will be sending a clear message that it is perfectly acceptable.
All of the money that these senators have earned at the expense of the American people should be handed over to them, so that they are able to survive this challenging financial period. Insider trading is the sort of scam that hurts all kinds of innocent people and anyone who was willing to look the other way on these decisions also needs to be held responsible.
To make matters even worse, Loeffler did not even ascend to her post by the traditional means. She was appointed instead. The people of Georgia won’t even have the chance to vote her out anytime soon. These actions should turn into the sort of media firestorm that is sure to blow up in her face and we hope that no one loses sight of that in the midst of the current hysteria.
This is the sort of disgusting corruption that is being placed on full display for the American people. While Americans like to believe that other nations are the ones who are responsible for widespread corruption, nothing could actually be further from the truth. We go through all of the same problems as any other developed country.
These actions are felonious and we sincerely hope that a trial is conducted when all is said and done. If con artists like these senators think that they are going to get away with their sadistic behavior. All those who believed that Hillary Clinton needed to be sent to prison for her e-mails need to be speaking out just as loudly about this disgusting sort of behavior.