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Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Conservative US ^ | 03.20.2020 | Natalie D.

Posted on 03/20/2020 5:05:12 AM PDT by USA Conservative

Anti-Trump GOP Senator Richard Burr is in deep trouble on Thursday after it was discovered the powerful chairman of the Senate Intelligence Committee dumped as much as $1.72 million in hotel stocks before the coronavirus panic hit the US while reassuring the public about coronavirus preparedness.

On Thursday, ProPublica reported on Burr’s decision on February 13 to sell somewhere between $628,000 and $1.72 million of his holdings in 33 different transactions; at the time, he was receiving daily COVID-19 briefings as the chairman of the Senate Intelligence Committee. The deals included a sale of $150,000 worth of shares of Wyndham Hotels and Resorts, which has since lost two-thirds of its stock price. He also sold up to $100,000 in shares of Extended Stay America — the value of those shares have since halved.

https://twitter.com/ossoff/status/1240761133218304005?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1240761133218304005&ref_url=https%3A%2F%2Fconservativeus.com%2Ffour-senators-dumped-millions-in-stock-after-closed-door-coronavirus-briefings-they-face-up-to-20-years-in-prison%2F

There was another case where a GOP senator was caught selling stocks.

Sen. Kelly Loeffler (R-GA), whose husband is the chairman and CEO of the New York Stock Exchange, began selling off more than a million dollars in stocks on the same day as the closed-door Senate meeting on Friday, Jan. 24, reports The Daily Beast.

“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.” Loeffler tweeted on January 24, 2020 — Loeffler reported her first stock sale (jointly with her husband) this very same day.

https://twitter.com/SenatorLoeffler/status/1220910430115241984?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1220910430115241984&ref_url=https%3A%2F%2Fconservativeus.com%2Ffour-senators-dumped-millions-in-stock-after-closed-door-coronavirus-briefings-they-face-up-to-20-years-in-prison%2F

Ron Johnson, the senior senator from Wisconsin, reportedly sold over $5 million in stock on March 2 and the number could be as high as $25 million.

The fourth senator being accused is Oklahoma’s Jim Inhofe, who reportedly sold up to $450,000 in stock in late February.

The senators were reportedly part of private briefings on the coronavirus pandemic and decided to sell their shares before the market crashed. They are being accused of insider trading and people are calling for them all to resign.

It doesn’ matter which party you support yous should answer for this crime.

They have to face justice for insider trading!

The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The bill prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.

The bill was introduced by Joe Lieberman, independent United States Senator for Connecticut, on January 26, 2012, and passed in the Senate by a 96–3 vote. Later the House of Representatives passed it by a 417–2 vote. The bill was supported heavily by vulnerable incumbents and signed into law by President Obama. According to the current United States Senate Select Committee on Ethics, “A member, officer, or employee of the Senate shall not receive any compensation, nor shall he permit any compensation to accrue to his beneficial interest from any source, the receipt or accrual of which would occur by virtue of influence improperly exerted from his position as a member, officer, or employee.”

The maximum prison sentence for an insider trading violation is now 20 years. The maximum criminal fine for individuals is now $5,000,000, and the maximum fine for non-natural persons (such as an entity whose securities are publicly traded) is now $25,000,000.

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TOPICS: Government; Health/Medicine; Politics; Society
KEYWORDS: california; coronavirus; covid19; diannefeinstein; feinstein; gop; insidertrading; jiminhofe; kellyloeffler; richardburr; ronjohnson
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To: maineman

Did you even read the post or just the headlne? The answer was right in the post:

“The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The bill prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.”

They should all go to jail, regardless of party. Members of Congress are required to file documents when they make financial transactions like this. We will soon know of the Democrats who did this as well.


21 posted on 03/20/2020 5:11:52 AM PDT by Taipei
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To: Diogenesis

When my 401k bottoms out these sleazes will be there to reinvest and double their money.


22 posted on 03/20/2020 5:12:27 AM PDT by hardspunned
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To: USA Conservative
Image result for martha stewart annoyed
23 posted on 03/20/2020 5:13:52 AM PDT by Leep (Everyday is Trump Day!)
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To: USA Conservative

Feinstein not mentioned in the article but it’s reported this morning that she dumped stock as well.


24 posted on 03/20/2020 5:14:16 AM PDT by jersey117
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To: hardspunned

Fox News reported that Feinstein was one of the senators.


25 posted on 03/20/2020 5:14:44 AM PDT by july4thfreedomfoundation (I'm triggered by liberals and other assorted moonbats.)
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To: USA Conservative

More click bait?


26 posted on 03/20/2020 5:14:57 AM PDT by McGruff (It came from China)
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To: sauropod

Thank you. I have questions on the transactions but I thought blind trusts, held by many, were allowed. I am betting that mutual funds were being sold, and the stock names well see are widely held within those. I dont imagine for a minute that these people were sitting at home on their Scott trade accounts and liquidating.


27 posted on 03/20/2020 5:16:29 AM PDT by SueRae (An administration like no other.)
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To: USA Conservative

Loeffler just lost her slot in the jungle primary to Doug Collins. Can Collins go on to win in the general? Or will a Democrat gain GA’s Senate seat? Fingers crossed.


28 posted on 03/20/2020 5:18:47 AM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room.)
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To: USA Conservative

That senators could not sell stock as the virus became a threat is preposterous. I seriously doubt this law applies.
A LOT of you are jumping to throw GOP senators out and flip the Senate.
They SOLD something they owned. They didn’t receive a penny of “compensation”.
They didn’t need inside information to make this decision.
This is silliness. They receive “private briefings” all the time, and they are allowed to sell stock.
If you want to make it illegal for senators to have investments, do that.


29 posted on 03/20/2020 5:19:20 AM PDT by Williams (Stop Tolerating The Intolerant)
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To: stockpirate

think they are exempt from insider trading laws...in fact pretty sure they are...
I think you are right.

I’ve heard that before. Explains why there are so many congress millionaires


30 posted on 03/20/2020 5:20:25 AM PDT by Hang'emAll (If guns kill people, do pencils misspell words?)
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To: hardspunned

She’s always involved in quick rich schemes. If there is an illegal insider profit making plan involving Congress you can bet she’s at the head of the line!


31 posted on 03/20/2020 5:20:26 AM PDT by dowcaet
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To: USA Conservative

I would not get too excited here. I read years ago that Congress exempted members from inside trading laws.

How do you think all these public servants become millionaires?


32 posted on 03/20/2020 5:20:38 AM PDT by CIB-173RDABN (I am not an expert in anything, and my opinion is just that, an opinion. I may be wrong.)
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To: USA Conservative

The information they acted on wasn’t exactly a secret. I acted on it weeks before they apparently did. The market was getting toppy, and it was pretty clear that a highly contagious disease shutting down huge cities in China was not going to remain sequestered there. How could it, unless international travel was completely and immediately banned?


33 posted on 03/20/2020 5:21:55 AM PDT by rightwingcrazy (;-,)
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To: USA Conservative

It’s not illegal for Congress. They, shockingly, exempted themselves.

While I am not happy about this, I demand that these Senators face the same justice that the democrats face.

This is the space the democrats thrive in. Jail/Resignation for thee but not for me.

And here is how this will go. A month or two later (after the resignations of the GOP Senators which hands Chuck Schumer the Senate. After impeachment is re-opened) we will discover that key democrat Senators did the same thing.

We will be outraged and call for their resignations!! Injustice we will scream. Demo rats or demon crats we will curse. Our guys resigned, now they should, we will decry!!! Sucker Carlson will take a break from virus fear mongering and lead the charge.

And the democrats will smile that cute little smile. They will show remorse and promise to pass laws preventing Congress persons from insider tradinf trading. Then, they will extend the middle finger, continue in office Robert Mendez style, and proceed with re-impeachment.

But we will tell ourselves how pure we are, how much better we are.

#Losing


34 posted on 03/20/2020 5:23:48 AM PDT by FlipWilson
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To: Taipei

Wasn’t that highly touted law gutted in the dead of night shortly after it was passed?


35 posted on 03/20/2020 5:24:00 AM PDT by Durus (You can avoid reality, but you cannot avoid the consequences of avoiding reality. Ayn Rand)
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To: Diogenesis
<>"THEY BEGAN IT AND PROFITTED FROM IT."<>

Yes they did!

When the people in the know run for the exits, everyone follows.

This is a good chance to sort the grifters from the good guys.

Government will not fix itself so if we can't jail them at least we can vote them out and ostracize them from society.

36 posted on 03/20/2020 5:24:54 AM PDT by Aevery_Freeman (So, Wuhan China had a Bio-weapons Lab...who knew?)
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To: USA Conservative
Congress passed laws that exempt itself from certain laws. I believe Congress is exempt from insider trading laws. It's not fair but we've elect these people and they create the laws.

https://www.foxnews.com/us/congress-exempt-from-several-federal-laws

37 posted on 03/20/2020 5:25:11 AM PDT by JesusIsLord
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To: USA Conservative

>Yaw< Yeah, when ever.


38 posted on 03/20/2020 5:25:58 AM PDT by SkyDancer ( ~ Just Consider Me A Random Fact Generator ~ Eat Sleep Fly Repeat ~)
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To: USA Conservative

Wasn’t there some special law that exempted Congress from insider trading?


39 posted on 03/20/2020 5:26:41 AM PDT by 9YearLurker
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To: USA Conservative

They will not be charged. They are the swamp.


40 posted on 03/20/2020 5:26:46 AM PDT by LoveMyFreedom
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