Higher-ups knew about the impending epidemic of the virus so they sold stocks in advance
What kind of trust to the government can be discussed, even if high-ranking Senators take advantage of the national epidemic in their personal financial interests. Recently it became known that four "the people’s choice" sold their stocks immediately after a briefing on coronavirus in late January.
And although each of those caught in such urgent speculations has an excuse in the form of "I do not follow hundreds of thousands of dollars" or "my husband manages this money," the people's trust in the Senators fails.
Following a January 24 meeting with Donald Trump about a possible national threat to the coronavirus, Sens. Kelly Loeffler (R-Ga.), James Inhofe (R-Okla.), Dianne Feinstein (D-Calif.) And Richard Burr (R-N.C.) Sold their stocks for a total of more than $ 5.3 million.
This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband's knowledge or involvement.— Senator Kelly Loeffler (@SenatorLoeffler) March 20, 2020
According to financial disclosure forms, all four senators sold their assets in two stages, the first stage of sales took place from January 24 to January 31, when information about the impending stock market crash became available at a briefing, then, after almost a week, the second stage came when the coronavirus already been recorded in the USA. Between February 5 and February 20, senators got rid of the remaining stocks, reports The Hill.
“Senator Burr filed a financial disclosure form for personal transactions made several weeks before the U.S. and financial markets showed signs of volatility due to the growing coronavirus outbreak,” a spokesperson for Burr told ProPublica regarding the stock sales.