In addition to Senator Richard Burr (R-N.C.), a second Republican in the upper chamber has been caught dumping stock after receiving a briefing on the coronavirus pandemic, saving her millions of dollars.
Senator Kelly Loeffler (R-GA) took office back in January, and just two weeks later she participated in a coronavirus briefing. As proof, she tweeted about it.
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. #gapol https://t.co/5866TrrEFc
— Senator Kelly Loeffler (@SenatorLoeffler) January 25, 2020
That very same day, Loeffler and her husband dumped millions of dollars worth of stock from companies that lost significant value these last few weeks as the pandemic ravages the United States and causes economic panic.
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“The Senate’s newest member sold off seven figures worth of stock holdings in the days and weeks after a private, all-Senators meeting on the novel coronavirus that subsequently hammered U.S. equities,” the Daily Beast revealed, going on to write that Loeffler “reported the first sale of stock jointly owned by her and her husband on January 24, the very day that her committee, the Senate Health Committee, hosted a private, all-Senators briefing from administration officials, including the CDC Director and Anthony Fauci, the head of the National Institutes of Health of the United States, on the coronavirus.”
Just like Senator Burr, Loeffler received a briefing on just how bad the pandemic could get and she used the inside information to dump stocks before they lost their value, a possible violation of the Stock Act.
“Between January 24 and February 14, by contrast, Loeffler reported selling stock jointly owned with her husband worth between $1,275,000 and $3,100,000, according to transaction reports filed with Senate ethics officials,” the report continued. “The fifteen stocks that Loeffler reported selling have lost more than a third of their value, on average, since she reported offloading them.”
Americans did not get the same benefit of a warning like these Republican lawmakers did. Instead, these GOP senators have been insisting that all is well and that Americans should not worry all while they ran to the stock market to sell off their holdings to guarantee they wouldn’t lose their own money.
In fact, Loeffler even posted a video on her Twitter feed on March 10th assuring Americans that is economy is “strong.”
Concerned about #coronavirus? Remember this:
The consumer is strong, the economy is strong, & jobs are growing, which puts us in the best economic position to tackle #COVID19 & keep Americans safe.
Update following meeting with @realdonaldtrump, @VP, & @StevenMnuchin1: pic.twitter.com/H9t2D6x19k
— Senator Kelly Loeffler (@SenatorLoeffler) March 10, 2020
If it was “strong,” she and Burr would not have rushed to sell their stocks.
Loeffler has only been in office for a couple months and she’s already corrupt. One wonders how many more Republicans betrayed the country for their own financial gain.
Featured image via screen capture
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