Senators Sold Stock After Coronavirus Briefings in January

[kmiklas]

Perhaps we need a new "Inside Trading" category on ET?

Senators Sold Stock After Coronavirus Briefings in January
By
David Kocieniewski
March 20, 2020, 3:16 AM EDT Updated on March 20, 2020, 11:17 AM EDT
Four U.S. senators sold stock after receiving sensitive briefings in late January about the emerging threat of the coronavirus, sparking concerns that they put safeguarding their private finances before their duty to protect public health.

Senator Richard Burr, a Republican from North Carolina, and Kelly Loeffler, a Republican from Georgia, both completed their sales at a time when the Trump administration and GOP leaders were downplaying the potential damage the virus might cause in the U.S. and before drastic stock-market plunges set off by the pandemic.

(more)

Two other members of the Intelligence Committee, Senator Dianne Feinstein, a Democrat from California, and Senator James Inhofe, an Oklahoma Republican, also sold stock after the briefings, according to financial records.

https://www.bloomberg.com/news/arti...-stock-after-coronavirus-briefings-in-january

 

[ZBZB]

Did they buy vix calls?

 

[kmiklas]

Did they buy vix calls?

 

[FreakofNature]

I don't like politicians one bit, but they got a right to sell, it's not like they went full leverage short after selling their positions lol

 

[newwurldmn]

I don't like politicians one bit, but they got a right to sell, it's not like they went full leverage short after selling their positions lol

They shouldn’t have the right to buy in the first place. Lawyers and bankers have heavy restrictions on what stocks they can own.

 

[zdreg]

Perhaps we need a new "Inside Trading" category on ET?

Senators Sold Stock After Coronavirus Briefings in January
By
David Kocieniewski
March 20, 2020, 3:16 AM EDT Updated on March 20, 2020, 11:17 AM EDT
Four U.S. senators sold stock after receiving sensitive briefings in late January about the emerging threat of the coronavirus, sparking concerns that they put safeguarding their private finances before their duty to protect public health.

Senator Richard Burr, a Republican from North Carolina, and Kelly Loeffler, a Republican from Georgia, both completed their sales at a time when the Trump administration and GOP leaders were downplaying the potential damage the virus might cause in the U.S. and before drastic stock-market plunges set off by the pandemic.

(more)

Two other members of the Intelligence Committee, Senator Dianne Feinstein, a Democrat from California, and Senator James Inhofe, an Oklahoma Republican, also sold stock after the briefings, according to financial records.

https://www.bloomberg.com/news/arti...-stock-after-coronavirus-briefings-in-january

There are two other threads on the same subject preceding yours.
https://www.elitetrader.com/et/thre...eemed-member-of-congress.341929/#post-5042279

 

[cdcaveman]

They shouldn’t have the right to buy in the first place. Lawyers and bankers have heavy restrictions on what stocks they can own.

But then why would they go into poltiics in the first place lol

 

[bone]

They should all be investigated by the DOJ for insider trading. A pox on both parties. Spouses and family investigated as well. BOTH PARTIES.

 

[cdcaveman]

Because gov is gonna keep itself in check right haha

 

[Sig]

I don't like politicians one bit, but they got a right to sell, it's not like they went full leverage short after selling their positions lol

Actually Senator Loeffler, married to the chairman of the NYSE btw, went long web meeting stocks with the proceeds of her sales. So pretty much the same evil if you're trying to make a distinction between avoiding loss and profiting from inside info on a disaster. I think the distinction is moot anyway, but in her case pretty much pure evil regardless.