Corrupt Republicans Use Insider Knowledge, Dump Stocks Before Market Crash

Editor’s note: Although the big offenders were Republican — likely acting on insider information — it was revealed after the below stories broke that Democratic Senator Dianne Feinstein did the same. Restoring Liberty has long maintained that corruption is endemic to both parties.

Third GOP Senator Caught Selling Equity Before the Market Crash — This Time up to $25 Million Worth

By Raw Story. On Monday, March 2nd, the Dow Jones Industrial Average set its biggest-ever point gain.

But Sen. Ron Johnson (R-WI) was massively selling.

Johnson, who has a net worth estimated at over $36 million, made a major transaction.

The exact amount is unknown, as ethics forms only require disclosure in broad ranges, but Johnson reported selling over $5 million that day — and potentially up to $25 million. . .

Sen. Richard Burr (R-NC) and Sen. Kelly Loeffler (R-GA) reported dumping stock before market crash. (Read more from “Third GOP Senator Caught Selling Equity Before the Market Crash — This Time up to $25 Million Worth” HERE)

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AOC Calls on Senate Intelligence Chairman Richard Burr to Resign for Stock Sell-Off Ahead of Pandemic

By NBC News. Rep. Alexandria Ocasio-Cortez, D-N.Y., is calling on Sen. Richard Burr, R-N.C., to resign after reports Thursday that the powerful Intelligence Committee chairman had privately warned well-connected donors of the dire impacts of the coronavirus pandemic last month while selling off up to $1.6 million of his own stocks.

Ocasio-Cortez said on Twitter that as chairman of the Intelligence Committee, Burr “got private briefings about Coronavirus weeks ago. Burr knew how bad it would be. He told the truth to his wealthy donors, while assuring the public that we were fine. THEN he sold off $1.6 million in stock before the fall. He needs to resign.”

Ocasio-Cortez was referring to two separate reports about Burr’s activities in February.

ProPublica reported that Burr — who co-wrote an op-ed for Fox News in early February saying “the United States today is better prepared than ever before to face emerging public health threats, like the coronavirus” — sold off the stock around mid-February, about a week before the market started to drop because of coronavirus concerns.

That included selling off up to $150,000 worth of shares of Wyndham Hotels and Resorts, which has lost two-thirds of its value, ProPublica reported. He also sold off up to $100,000 of shares of another hotel chain, Extended Stay America. (Read more from “AOC Calls on Senate Intelligence Chairman Richard Burr to Resign for Stock Sell-Off Ahead of Pandemic” HERE)

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Tucker Carlson Calls on Sen. Richard Burr to Resign Over Stock Dumping Reports

By Newsweek. Intelligence Committee Chairman Senator Richard Burr of North Carolina sold over $1 million in stocks, including stocks in two lodging and hospitality chains, in February before the coronavirus pandemic sent the markets into a tailspin according to Thursday reports.

Whether Burr’s decision to sell the stocks was influenced by information about the coronavirus has yet to be confirmed, but Fox News host Tucker Carlson said Thursday that Burr, co-author of a February op-ed piece which claimed that the U.S. was “better prepared than ever before to face emerging public health threats, like the coronavirus,” should resign from office and be placed on trial for insider trading.

“[Burr] had inside information about what could happen to our country, which is now happening,” Carlson said. “But he didn’t warn the public. He didn’t give a primetime address. Didn’t go on television to sound the alarm. He didn’t even disavow an op-ed he had written just ten days before claiming that America was, quote, ‘better prepared than ever for coronavirus.'”

“Instead, what did he do? He dumped his shares in hotel stocks so he wouldn’t lose money,” Carlson continued. “And then he stayed silent. Now, maybe there’s an honest explanation for what he did. If there is, he should share it with the rest of us immediately. Otherwise, he must resign from the Senate and face prosecution for insider trading.” (Read more from “Tucker Carlson Calls on Sen. Richard Burr to Resign Over Stock Dumping Reports” HERE)

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