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GOP Senators Sold Stock After Secret Coronavirus Briefing

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Senators Richard Burr and Kelly Loeffler got a private briefing about the coming pandemic. Then they dumped stocks before the market tanked. 

How can holding our elected officials accountable for their actions restore public trust and confidence in our government?

In recent weeks, there have been several reports of GOP senators selling off large amounts of stock shortly after receiving a confidential briefing regarding the potential impact that the coronavirus could have on the economy. This news has led to widespread outrage and suspicion among many American citizens.

According to reports, Senator Richard Burr of North Carolina, the chairman of the Senate Intelligence Committee, sold off between $628,000 and $1.7 million in stocks in February, shortly before the stock market began to experience a significant and sustained downturn. Similarly, Senator Kelly Loeffler of Georgia sold off between $1.2 and $3.1 million in stocks in late January and early February, including holdings in industries that could be significantly impacted by the pandemic, such as airlines and hotels.

While these sales are not illegal, many are questioning the ethics and judgment of these senators in light of their access to confidential information about the potential impact of the virus. Many are also questioning why these senators did not make this information public, or use their positions to advocate for stronger measures to protect Americans from the spread of the virus and its economic impacts.

The actions of these senators also raise broader concerns about conflicts of interest and the role of money in politics. Some have pointed out that Senator Burr, in particular, has a history of using his position for personal gain, including in his involvement with a real estate development company that has received millions in federal funding. Many argue that this kind of behavior erodes public trust in our elected officials, and contributes to a system in which the wealthy and powerful have more influence over our government than ordinary citizens.

In response to these concerns, several watchdog groups and Democratic lawmakers are calling for investigations into the stock trades made by senators before the pandemic began to wreak havoc on the economy. The Justice Department has also reportedly begun an investigation into Senator Burr’s activities.

The revelation that some senators may have profited from advance knowledge of the coronavirus’s impact on the economy is deeply troubling, and raises important questions about the role that money plays in our democracy. It is important that these questions are answered, and that our elected officials are held accountable for their actions in both the short and long term. Only then can we begin to restore trust and confidence in our government, and ensure that our leaders are working in the best interests of all Americans.