Questionable timings and alleged insider information has led to a DoJ probe.
In the past several weeks, reports emerged of several senators who may have utilized inside information obtained from senate member briefings to manipulate the sale of stocks for large profits.
Obviously, with COVID-19 taking up such a large portion of
the airwaves, this story hasn’t seen much daylight since the initial report.
The senators in question are Richard Burr (R-NC), Kelly Loeffler (R-GA), Dianne
Feinstein (D-CA), and Jim Inhofe (R-OK).
And while the sales haven’t been confirmed to violate any Senate rules or break any laws, the outcry from citizens may have helped get a Department of Justice investigation underway.
Senator Burr has come under the most fire, but has defended his
position by stating that he was only using public information to make his sale
decisions. While it is certainly possible that Burr was utilizing only what the
public had access to, the timing of the sale in regards to rising COVID-19
rates and the hits it dealt to the markets is what seems most suspicious. To
his credit, Burr did request a Senate Ethics Commission review of his sale to
ensure it met all standards.
This look into stock sales is necessary to ensure transparency.
This includes holding my own side accountable for any impropriety.