Or At Least It Didn't Used To Be
by Bob Walsh
A total of four U. S. senators are being jacked up for dumping personally owned stock just before the market tanked due to the Covid-19 virus. Until fairly recently it was completely legal for members of congress to trade on insider information they got as a result of their elected positions. How do you think they become rich? They can't get it ALL thru bribery.
Senate Intelligence Committee Chairman Richard Burr dumped a total of $1.7 million worth of stock in 33 separate transactions on February 13.
Senator Kelly Loeffler also dumped a few million dollars worth shortly after they received an early, closed-door briefing on the Covid-19 bug. Her sales totaled about $3.1 million and began on January 24.
Senators James Inhofe and Diane Feinstein also dumped several million worth of stock. Feinstein's money is in an (allegedly) blind trust. Inhofe says he is not involved in financial decisions of this type as does Senator Loeffler.
Common Cause has filed complaints with the Justice Department, the S.E.C. and the Senate Ethics Committee. Senator Burr has asked that the Ethics Committee take a look at his transactions, which were apparently self-generated.
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