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Thread: Senator Dumped Up to $1.6 Million of Stock After Reassuring Public About Coronavirus

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    Senator Dumped Up to $1.6 Million of Stock After Reassuring Public About Coronavirus

    Intelligence Chair Burr’s selloff came around the time he was receiving daily briefings on the health threat.

    Soon after he offered public assurances that the government was ready to battle the coronavirus, the powerful chairman of the Senate Intelligence Committee, Richard Burr, sold off a significant percentage of his stocks, unloading between $582,029 and $1.56 million of his holdings on Feb. 13 in 29 separate transactions.

    As the head of the intelligence committee, Burr, a North Carolina Republican, has access to the government’s most highly classified information about threats to America’s security. His committee was receiving daily coronavirus briefings around this time, according to a Reuters story.

    A week after Burr’s sales, the stock market began a sharp decline and has lost about 30% since.

    On Thursday, Burr came under fire after NPR obtained a secret recording from Feb. 27, in which the lawmaker gave a VIP group at an exclusive social club a much more dire preview of the economic impact of the coronavirus than what he had told the public.

  2. #2
    Coconut King K4PIH's Avatar
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    They are all crooks. If they can hammer Martha then they should hammer these people!
    "Don't put it on the plate if you can't eat it!"

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    "Island Bartender" KG4CGC's Avatar
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    "Lock them up."

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    If he divulged confidential information to his cronies, that's a crime. They are apparently exempt from insider trading laws through a law the crooks passed for themselves. This is another type of corruption that needs to be rooted and booted.

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    Master Navigator KC2KFC's Avatar
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    They are not exempt from the laws. You may not have heard of this guy.

    https://www.cnn.com/2020/01/17/polit...ing/index.html

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    Quote Originally Posted by KC2KFC View Post
    They are not exempt from the laws. You may not have heard of this guy.

    https://www.cnn.com/2020/01/17/polit...ing/index.html
    I think that may be a different situation. He obtained the information he misused in his duties as a board member of a corporation. That is
    not the same as using information he obtained as a congresscritter, and it involved others profiting from it.

    I think at least Mr. Burr is guilty of sharing confidential info illegally, which is a crime. Since the GOP controls the hearings, I suspect the only one that will get hung is Ms. Feinstein.

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    Master Navigator KC2KFC's Avatar
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    Quote Originally Posted by K0RGR View Post
    I think that may be a different situation. He obtained the information he misused in his duties as a board member of a corporation. That is
    not the same as using information he obtained as a congresscritter, and it involved others profiting from it.

    I think at least Mr. Burr is guilty of sharing confidential info illegally, which is a crime. Since the GOP controls the hearings, I suspect the only one that will get hung is Ms. Feinstein.
    My guess is they will all get a mere slap on the wrist.
    Stay healthy my friends.

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    "Island Bartender" KG4CGC's Avatar
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    Quote Originally Posted by KC2KFC View Post
    My guess is they will all get a mere slap on the wrist.
    Sadly, this is probably most accurate.

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    It's an election year. My guess is they will all be exonerated, if not commended for their civic mindedness in sharing critical information with key rich people. Of course, this assumes that we have a Congress after the aid bill gets passed. We know the Senate is going to adjourn for at least a month, and there are lots of people in the House who are sick.

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