Crime Sen. Kelly Loeffler Sold Millions in Stock After Coronavirus Briefing

according to this interview, her trades come exclusively from a third party advisor and that the purpose of using an advisor instead of her own discretion is to preempt questions about use of insider information.

but that doesnt rule out that she could have tipped the advisor with what she knew.

markets trade on news in general and even more so during a crisis, so you can bet insiders are making bank on these daily swings. not sure if this particular trade is actually an example of that, though.



Wow what a terribly absurd defense she gave in that video. If it's not "illegal" so to say, it's still incredibly unethical to say the things she said while cashing out tons. Some of it sounded like pure lies. Should be the showing to highlight that rules need to be revised so it can't be bent in this way.
 
IMO, public officials shouldn't be allowed to trade stocks in the first place. It's ludicrous that the people regulating businesses can invest in them. I don't think it would technically be insider trading to take your existing stock holdings, and base your decisions on regulations on what you already hold. IMO, they should be made to cash out as soon as they take office and maybe or maybe not be allowed to invest again after leaving office.

An "investigation" would be pretty damn simple for this case. Just find out what was said in the meeting, and if there was anything that wasn't publicly known that would have caused them to sell. I doubt there was considering the timeline and none of the other senators told the public about anything from the meeting they didn't know either. Otherwise, this would be forcing them to hold stock forever even after information is public.

YES. Senators and Congressman should have to cease all trading during their terms and for a determined period afterwards. It’s unbelievable that it is allowed.

I tend to believe that if the Constitution hadn’t been written before the US stock market began, we would have had a prohibition on trading by sitting Senators and Congressmen.
 
Also: Vote her out, Georgia. She was never elected in the first place. Same goes for the rest.
 
Politicians shouldn't be allowed to own stocks. Period.
 
Disgusting what these greedy Republicans did. They knew information that was not disclosed to the public yet and used that info to sell their shares.
 
The story is getting some traction here in Canada
 
YES. Senators and Congressman should have to cease all trading during their terms and for a determined period afterwards. It’s unbelievable that it is allowed.

I tend to believe that if the Constitution hadn’t been written before the US stock market began, we would have had a prohibition on trading by sitting Senators and Congressmen.
I suspect there would have been. Frankly, I think we'd see an entirely different class of people even running for office if that was their entire income and not a supplement to their day trading.

Congressional salaries with baller ass benefits is 2.5x the median HOUSEHOLD income in the country where they're supposed to be representative. It's way more than enough to be their only source of income. They shouldn't be allowed to invest or make outside income while in office, and there should be fairly short term limits so they have to rejoin the job market they've created for the rest of us.
 
Isn't it obvious? They share political leanings with the person. We see people defending politicians doing scuzzy things in here every day based, if we're being honest, on them being an R or a D. If Trump did end up shooting someone on the street people would be in here defending that too.
Have you been living under a rock? The left has been far more critical of the Democratic party than conservatives have been of the GOP. Even the so-called principled conservatives that once despised Trump are now finding themselves defending all the improprieties of his administration.

I'm not OK with it
i'm just wondering if they HAD given the public the same info, could they then have sold it?

b/c it's not insider at that pt? or do they have to wait for info from SEC reports
Yes, that would be allowed as they are no longer trading on exclusive knowledge.
Also: Vote her out, Georgia. She was never elected in the first place. Same goes for the rest.
She intends to spend $20 million of her own money to retain this seat. Illuminating insight into her recent actions.

 
Have you been living under a rock? The left has been far more critical of the Democratic party than conservatives have been of the GOP. Even the so-called principled conservatives that once despised Trump are now finding themselves defending all the improprieties of his administration.

Really? I *constantly* see the claim of "8 years and no scandals!" or "the biggest scandal about Obama was his tan suit" parroted about the Obama administration which is such a laughable rewrite of history, but it's treated as if it were fact. This is a direct result of of Democrats carrying water for the administration as things like operation fast and furious and the whole IRS targeting conservatives thing. Frankly, I think many Democrat supporters are at a point where they don't believe they have to deal with any of this because they've ceased to even recognize these types of things as wrongdoings. And hell, take a careful step back and look at Joe Biden seriously. This guy is as dirty as they come with sketchy as hell ties to gas companies in the Ukraine that result in familial benefit, has all but admitted that he's leveraged aide for personal benefit with his whole "If that prosecutor isn't fired by the time I leave" thing, and he's still the guy running. The party that is fronting this sleaze is the one you're saying holds their own to task?

Next comes the "Well, they're not even comparable! Trump is far worse." Of course Trump is worse, being all but an avatar for disinterested anything-to-pull-a-profit neoliberal business sense in politics paired with the wanton entitlement of a man who was born with a silver spoon up his ass. What is comparable is that the Democratic party and its voters are both willing to ignore wrongdoing on the part of their party and its prominent members in the blink of an eye, and even vociferously argue that they aren't wrongdoings. They're also very quick to forget them and just sort of never deal with them seriously if they can get away with it, which their voter base makes very easy. Frankly, if you can't see that, I'm guessing you're one of the people who is so used to doing it that you can't even see it being done any more. The fact that this thread was made without mention of Feinstein mentioned says all you need to know about the Democrats holding their own to account, as if Joe Biden's many sins being ignored didn't.

No, I'm sorry. The Democrats have a massive problem in dealing with their own dirty laundry - mainly that, if they can avoid it, they don't. The Republicans is a group of big business schills, but the Democrats are hardly much to write home about.
 
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Correct me if I'm wrong, but didn't Sen Diane Feinstein do the same thing with selling her stock?

or is this something completely different?
I genuinely wanna know if there is a difference.
 
Interesting how the TS still isn't including Feinstein. Hmm...
 
My original message was that bobgeese doesn't have a conscience but then I realized it might not be actually illegal. Unethical probably, hypocritical absolutely, but probably not illegal. And for strict GOP and Trump supporters like him, it doesn't matter as long as it makes the left tick. But like anything in life, the wave of politics will shift back to Democrats at some point and it'll be his turn to bitch and moan and for us to laugh at him. It's cyclical

We already laugh at his dumb ass tho.
 
Interesting how the TS still isn't including Feinstein. Hmm...

From what I understand, Feinstein and Inhofe also sold stocks, but weren't at the briefing. So the timing looks bad but it's a leap to assume they had insider knowledge or that it wasn't a scheduled transaction. On the other hand, what makes Barr and Loeffler's sales so damning is that they both attended a briefing where the severity of the pandemic was disclosed, and immediately began selling stocks, while also tweeting (Loeffler) and writing an op-ed (Barr) downplaying the virus to their constituents. Barr also got recorded telling a room full of wealthy donors, behind closed doors, about the impact of the virus, while at the same time publicly downplaying it to everyone else.
 
Loeffler is a hands-off trust she doesn't deal with (is advised later of moves they made in her interest) and you're talking about $3M in trades in a portfolio of someone with a net worth of $500M.
Meaningless.
Also, many people started about the same time and moved to cash because they saw this coming, hopefully with the intent to buy back in at these lower levels. But it isn't like others didn't see this coming and make moves based on their gut and what they saw in January and February.
I'm inclined to give Feinstein the benefit of the doubt as well, unless her husband is the advisor/fund handler, then that would be shady. Again, only a tiny percentage of her holdings (I assume).
Burr is a bit different. It was his entire portfolio, basically. If he had the same kind of advisor, fine. If not, then his is shady as well.
Doesn't mean illegal. I haven't heard much about the amount, net worth or whether Inhofe was offering the advisor defense.
 
Correct me if I'm wrong, but didn't Sen Diane Feinstein do the same thing with selling her stock?

or is this something completely different?
I genuinely wanna know if there is a difference.
According to @James Bomb the difference is that orange man bad.
 
According to @James Bomb the difference is that orange man bad.
Allogene Therapeutics is a biotech stock you idiot. Feinstein's blind trust sold it at $21.25 and it actually went up to $28.25 in early March, at the time when everybody who was not a Trump advisor already knew the situation was serious.

https://www.barrons.com/articles/se...2020-low-51583064907?siteid=yhoof2&yptr=yahoo


Fox News just shovels this shit and you morons wolf it down like popcorn. Is it too much work for you to look at a stock chart before you make an even bigger fool of yourself?
 

You're contorting yourself here to defend her when you know damn well that you'd be burning Pelosi at the stake with even less evidence.

And we don't know if any specific stocks were discussed at that meeting, but they were made aware of quarantine plans and operational policies to be imposed on workplaces. She still gained undue advantage learning that remote work would suddenly proliferate. Now if she bought those shares BEFORE the meeting then we could pat her on the back for her foresight.


Her story didn't break until a few hours ago, otherwise I would have included her too (along with the 2 additional senators caught up in this). I've wanted Feinstein removed my entire adult life. Fuck her too.

Loeffler and Burr began their selloff the very same day of the meeting. A few days later, Burr even wrote an op-ed painting an optimistic picture of the situation. Meanwhile, he continued selling substantial amounts of his holdings.

A silly partisan hypothetical in absence of a counterpoint.

Concession accepted.
 
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