This is not good. The Chairman of the Senate Intelligence Committee, Richard Burr (R-NC), and the Senate’s newest member, Kelly Loeffler (R-GA), both sold millions of dollars worth of stock after a closed-door briefing on the extent of the viral spread. The briefing happened in January and both then began selling.
Loeffler and her husband own the New York Stock Exchange, which further complicates matters — or to be accurate, they own the company that owns the NYSE.
Burr has been radio silent since the allegations were made. Senators must disclose stock sales and those disclosures were just made.
Loeffler, for her part, says that neither she nor her husband had no knowledge of the stock sales and purchases because she handed over control of her portfolio to outside advisers upon going into the Senate. If she can show she put her stocks in a blind trust and can back that up, she will have a measure of survivability. Her opponents are going to try to destroy her over it. But if she is telling the truth, she should be able to weather the storm.
If, however, she just had outside advisers who made the calls and it was not a blind trust, she’s going to have a hard time getting people to believe her and will need to consider resigning. In the present age, a lot of people just won’t be able to shallow that she didn’t somehow interfere with a blind trust. I’m not sure I know a person who’d believe there wasn’t interference if it was an independent arrangement that wasn’t a blind trust.
On Richard Burr, Tucker Carlson is already calling for his resignation, even though the Democrat Governor of North Carolina would be able to fill the seat.