4 Senators Sold Off Stock Ahead of Coronavirus Threat

Headline Roundup March 20th, 2020

Senators Richard Burr (R-NC), Dianne Feinstein (D-CA), James Inhofe (R-OK) and Kelly Loeffler (R-GA) sold off stocks potentially worth up to several million dollars ahead of the stock market's COVID-19 coronavirus-fueled downturn, according to multiple reports. The moves raise questions about possible violations of the STOCK act.

Right-rated outlets generally focused coverage more on Feinstein; left-rated outlets concentrated more on the three Republicans, primarily Burr and Loeffler.

From the Right
316

Sen. Dianne Feinstein of California and three of her Senate colleagues sold off stocks worth millions of dollars in the days before the coronavirus outbreak crashed the market, according to reports.

The data is listed on a U.S. Senate website containing financial disclosures from Senate members.

Feinstein, who serves as ranking member of the Senate Judiciary Committee, and her husband sold between $1.5 million and $6 million in stock in California biotech company Allogene Therapeutics, between Jan. 31 and Feb. 18, The New York Times reported.

When questioned by the...

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From the Left
316

WASHINGTON — Senator Richard M. Burr sold hundreds of thousands of dollars’ worth of stock in major companies last month, as President Trump and others in his party were still playing down the threat presented by the coronavirus outbreak and before the stock market’s precipitous plunge.

The stocks were sold in mid-February, days after Mr. Burr, Republican of North Carolina and the chairman of the Intelligence Committee, wrote an opinion article for Fox News suggesting that the United States was “better prepared than ever before” to confront the virus. At...

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From the Center
316

Four senators sold stocks shortly after a January Senate briefing on the novel coronavirus outbreak, unloading shares that plummeted in value a month later as the stock market crashed in the face of a global pandemic.

According to financial disclosures, Sens. Kelly Loeffler (R-Ga.), Jim Inhofe (R-Okla.), Dianne Feinstein (D-Calif.) and Richard Burr (R-N.C.) each sold hundreds of thousands of dollars in stocks within days of the Senate holding a classified briefing on Jan. 24 with administration officials on the threat of the coronavirus outbreak.

The sales raise questions about...

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