Earned on the epidemic: in the United States are demanding the resignation of senators from insider stock trading

Several politicians and prominent journalists in the US from both flanks of the political spectrum demanded the Republican Senator Richard Burr to voluntarily resign, accusing him of insider trading in the shares and concealing important information about the impact of the pandemic of 2019 coronavirus-nCoV, the BBC reports.

Заработали на эпидемии: в США требуют отставки сенаторов из-за инсайдерской торговли акциями

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Burr, who heads the Senate intelligence Committee, from February 13 this year, began to sell belonging to him and his wife shares, measured in the amount of 688 thousand to 1.72 million. The securities were sold in 33 separate transactions.

Members of Congress, and any Federal officials forbidden to engage in insider trading. This prohibition was established by the law “to Stop trading on the knowledge of the Congress” (STOCK), adopted in 2012 under the Obama administration. Burr was one of three senators who voted against this law.

The position of the head of the intelligence Committee of the Senate gave Richard Burr (distant relative of the third President of the United States Aaron Burr) the ability to obtain top secret information provided by US intelligence. According to Agency Reuters, in February of this year American intelligence agencies on a daily basis, reported to senators about the danger and rate of spread of the virus 2019-nCoV.

In mid-February, the us stock market was near historic highs. In March, a week after the sale of all shares Berra, he experienced a catastrophic decline, eliminate the entire increase over the three years of the administration of the trump.

Last Tuesday, the public radio station NPR has published on its website an audio recording of the meeting, Berra with a group of high-ranking supporters of the Republican party, held February 27 in the state of North Carolina, represented by the Senator. He said that NPR “knowingly and irresponsibly misrepresented” the meaning of his speech.

The day before President Donald trump said that concerns about the new epidemic is exaggerated and morbidity from 2019 coronavirus-nCoV in the near future will go on recession.

“It’ll all be gone one day a miracle will happen and all this will disappear”, — said the head of the White house, who promised yesterday that the number of deaths from a new disease in the United States will not exceed zero.

Speaking to his supporters the next day, Senator Burr painted a less optimistic picture.

“There is one thing I want to tell you about the current issue, he said. — This virus is much more aggressive and much faster passed than anything we faced in modern history… Perhaps the situation will be worse than it was with the Spanish flu pandemic in 1918”.

A few days before this, on 7 February, Senator Burr, together with the influential Senator Lamar Alexander published an article in which it claimed that the US is much better than other countries in the world prepared to deal with any epidemic.

According to “Voice of America”, a Republican Kelly Loffler, which is in the Senate of Georgia, became the second Senator who sold their shares immediately after a secret briefing about the impending financial disaster in pandemic of 2019 coronavirus-nCoV. It is also a call for resignation.

Loffler, which is included in the Senate Committee on health, sold stock on “millions of dollars” within a few weeks after the Senate held a secret meeting about the possible consequences of a pandemic.

On Thursday evening Loffler wrote on Twitter the following explanation: “I don’t take investment decisions about your stock portfolio. Investment decisions are made by several third-party consultants without my knowledge or the knowledge of my husband.” She called the accusations against her “senseless and baseless attack.”

Husband Loffler, Jeffrey Craig Sprecher, is the Chairman of the new York stock exchange.

Loffler and her husband participated in 29 transactions with the shares after the meeting, which was held in the Senate on January 24. Only two transactions were sales. One of the operations for the purchase of shares, was associated with a technology company that sells software for remote work.

Senator from the Democratic party Feinstein and other lawmakers had also sold shares before the collapse of stock markets due 2019 coronavirus-nCoV.

Many commentators and politicians calling for an investigation against legislators, who were accused of insider trading.

“The actions of the senators Barr and Loffler should be investigated by the authorities and the Senate Committee on ethics. If you have evidence that they resorted to insider trading, they should be charged and they will have to stand trial,” said Julian Castro, a former official of the Obama administration and the ex-applicant for a nomination from Democratic party on elections of the President of the United States 2020.

The journalists of The Daily Beast Lachlan Brands urged to pay attention to the overall picture of the operations with shares of the legislators. He notes that the operations of several senators, including Feinstein referred to above, cannot be directly linked to the briefing, which was conducted by the legislators. According to Mark, transactions with shares of the legislators that are in question are different from the situation with Barr and Loffler.

As reported ForumDaily:

  • A new virus was discovered in the Chinese city of Wuhan in December 2019. In 2020 it covers all continents except Antarctica. On 11 March, the President of the United States Donald trump has imposed a ban on entry into the United States from the EU. The ban came into force on Friday, March 13, and will last at least 30 days. In particular, it will affect people visiting the Schengen area for the last 14 days.
  • On 13 March, the tramp of coronavirus introduced in the U.S. nationwide state of emergency.
  • March 11, the who declared the situation with coronavirus pandemic, covering more than 110 countries. With symptoms COVID-19 caused by a coronavirus, can be found here.
  • The virologist’s advice on how to protect themselves from infection — the link.
  • Using the panic in the society because of the epidemic, the scammers have come up with several schemes to get victims ‘ personal data and money. The most common ones can be found here.
  • Panicked due to emergency, Americans are buying up large quantities of toilet paper, but can’t explain why it during an outbreak.
  • Trump has signed a law granting paid leave due to the coronavirus. Who can count on paid holidays, please click here.
  • All the news about the coronavirus please refer to our special projects.



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