Senators Richard Burr and Kelly Loeffler caught a lot of flak last week for their sales of stock made during a time when the Wuhan virus threat was front and center of media attention. Contrary to popular belief, these two weren’t the only elected officials to buy and sell stocks at sensitive moments during this crisis.
According to a POLITICO report, that several members of Congress “had traded shares at times or in industries that bore a relationship to the coronavirus threat.”
Several of the lawmakers who sold assets in the weeks approaching the market crash were California Congresswoman Susan Davis, who sold thousands of dollars of stock in Alaska Air and Royal Caribbean cruises.
A senior aide to Kentucky Senator Mitch McConnell made a mid-January purchase of Moderna, Inc., a biotechnology company that had announced earlier that month it would begin working on a coronavirus vaccine. Additionally, an aide to Senator Jeanne Shaheen, who serves on the Senate Foreign Relations Committee, sold stocks in companies including Delta Airlines in late January. Then the aide proceeded to buy stock in Clorox, Inc., which makes bleach and sanitary wipes.
The trades demonstrate the privileged information members of Congress enjoy when it comes to stock trading.
“The reality is that if you work on the Hill, or you work in government, you have access to information that the public doesn’t have or, if they have it, they can’t always see the signal through the noise,” declared Meredith McGehee, executive director of the watchdog group Issue One. “If you’re on the HELP Committee, you’re going to grasp threats much faster than the general public. You see things much more clearly.”
The North Carolina Republican is one of several senators, including Loeffler, California Senator Dianne Feinstein, Oklahoma Senator James Inhofe, and Georgia Senator David Perdue, who sold off stock at the end of January and the start of February as the Senate was holding more Wuhan virus briefings.
POLITICO noted the following:
It’s illegal for lawmakers and aides to trade stocks based on private information. But they are allowed to buy and sell shares based on public information they absorb on Capitol Hill so long as they disclose those trades within 30 days. That permissive approach to buying and selling stocks — the executive branch has much stricter rules — has drawn criticism from watchdogs who argue the freedom to trade isn’t as important as the need for the public to trust Congress to act only on its behalf.
Other members of Congress are expected to make money off companies developing ways to combat the disease. West Virginia congressman Rob Wittman bought between $1,001 and $15,000 of stock in the pharmaceutical company AbbVie Inc., on February 27, 2020 the day the company issued a statement saying it had donated one of its antiviral drugs to China as an experimental option for combatting the Wuhan virus and that it was looking into a research collaboration on potential options for treatment.
Wittman’s office declared he “does not have any involvement in investment decisions for his financial portfolio” and mentioned how AbbVie shares have lost value ever since. The office then added that Wittman’s original AbbVie purchase was for $1,218.
Cleveland Indians are Joining in the PC Radicalism by Discussing a Name Change
Even Major League Baseball is not exempt from political correctness.
The Washington Post reported that the Cleveland Indians are in the process of changing their name after the Washington Redskins announced their decision to review a potential name change before the NFL’s 2020 season.
“We are committed to making a positive impact in our community and embrace our responsibility to advance social justice and equality,” the Indians declared in a statement. “Our organization fully recognizes our team name is among the most visible ways in which we connect with the community. We have had ongoing discussions organizationally on these issues. The recent unrest in our community and our country has only underscored the need for us to keep improving as an organization on issues of social justice.”
— Cleveland Indians (@Indians) July 4, 2020
According to a report from The Athletic, the Indians leadership is expecting to discuss the matter with Native American leaders, fans, players, alumni, and staff within the organization before making a final name change.
The Washington Post pointed out that “The club de-emphasized its “Chief Wahoo” logo in 2016 in favor of the red ‘Block C’ logo.”
“We do have empathy for those who take issue with it,” Indians owner Paul Dolan commented about the logo in 2016. “We have minimized the use of it, and we’ll continue to do what we think is appropriate.”
In the 2018 season, “Chief Wahoo” was eliminated and the team no longer uses the logo.
The degree of cultural radicalism America is going through in 2020 is off the charts.
The Left is moving at breakneck speed in its efforts to transform America in every possible way, while most of the Right stays asleep.
Sex Crime4 days ago
Federal Judge Orders Epstein Victim’s Lawyers to Destroy Court Docs Related to Ghislaine Maxwell
Big League Wellness3 days ago
TRUMP WAS RIGHT: Medical Study Proves That Hydroxychloroquine Lowers COVID-19 Death Rate
Tech2 days ago
Twitter Software Engineer Advocates for Kidnapping and Violently Abusing Children of Republicans
Violent Left2 days ago
Minnesota Governor Asking President Trump to Declare Riots a Federal Disaster In Hope of Receiving Bailout Funds
Snowflakes4 days ago
Harvard Graduate Loses Job After Threatening to Stab Anyone Who Says ‘All Lives Matter’ on TikTok
Violent Left3 days ago
MUST READ: Journalist Michael Tracey Exposes How Black Lives Matter Terror Has Destroyed Minority Small Businesses in Minneapolis
Big League Wellness1 day ago
Dr. Fauci, NIAID Considers Purposefully Infecting Patients with COVID-19 to Develop Vaccine
States24 hours ago
Black Lives Matter Terrorists Show Up to Louisiana Courthouse with Guns to Menace Pro-Statue Protesters