Sen. Dianne Feinstein of California and three of her Senate colleagues sold off stocks worth millions of dollars in the days before the coronavirus outbreak crashed the market, according to reports.
The data is listed on a U.S. Senate website containing financial disclosures from Senate members.
Feinstein, who serves as ranking member of the Senate Judiciary Committee, and her husband sold between $1.5 million and $6 million in stock in California biotech company Allogene Therapeutics, between Jan. 31 and Feb. 18, The New York Times reported.
When questioned by the newspaper, a spokesman for the Democrat from San Francisco said Feinstein wasn’t directly involved in the sale.
“All of Senator Feinstein’s assets are in a blind trust,” the spokesman, Tom Mentzer, told the Times. “She has no involvement in her husband’s financial decisions.”
The Tide Has Turned on DEI in Nearly Every Major Institution, But Teachers and Educators Refuse to Ditch It
Hawaii RNC members pay their way to represent state: ‘It’s not a cheap hobby’
Cruz back in Texas after photo of him boarding plane sparks backlash ahead of winter storm
‘I Went to Princeton and Harvard!’: Michelle Obama Complains About Being Known as ‘Barack Obama’s Wife’
Johnson warns House Republicans to ‘stay healthy’ as GOP majority shrinks to the edge
Navy Under Secretary Hung Cao says personnel discharged over vaccine mandate were ‘failed’
Pentagon plans to give South Korea primary role in deterring North Korea threats under new strategy
Minnesota ‘on the clock’ as HHS threatens penalties over childcare fraud scandal
Man who allegedly threatened to shoot ICE agents had rifles, body armor and ammo cache, feds say
RNC regroups and recalibrates for midterm election fight
Anonymous letter to California GOP chapter calls for war on ICE, urges agents be sent ‘home in a body bag’
Thousands march through Minneapolis, swarm Target Center demanding ICE removal from Minnesota
Christians Beaten, Abducted in Nigeria as Church Service Attacked, Prayer Books Desecrated, and Worship Instruments Broken
FBI Director Kash Patel hails transfer of Most Wanted fugitive Alejandro Rosales Castillo after Mexico arrest
GOP Rep. Releases Footage to Preemptively Crush Democrats’ ICE Detention Facility Stunt
“All of Senator Feinstein’s assets are in a blind trust. She has no involvement in her husband’s financial decisions.”
Reports identified the three other senators as Richard Burr of North Carolina, Kelly Loeffler of Georgia and James Inhofe of Oklahoma, all Republicans.
Burr, chairman of the Senate Intelligence Committee, used more than 30 transactions to dump between $628,000 and $1.72 million on Feb. 13, according to ProPublica.
The report said the transactions involved a significant percentage of the senator’s holdings and took place about a week before the impact of the virus outbreak sent stock prices plunging to the point where gains made during President Trump’s term in office were largely erased.
“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 Burr spokesperson said. “As the situation continues to evolve daily, he has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy.”
Burr was an author of the Pandemic and All-Hazards Preparedness Act, a law that helps determine the federal response to situations such as the coronavirus outbreak, ProPublica reported. Burr’s office would not comment on what kind of information Burr might have received about coronavirus prior to his stock sales, the outlet reported.
The Tide Has Turned on DEI in Nearly Every Major Institution, But Teachers and Educators Refuse to Ditch It
Hawaii RNC members pay their way to represent state: ‘It’s not a cheap hobby’
Cruz back in Texas after photo of him boarding plane sparks backlash ahead of winter storm
‘I Went to Princeton and Harvard!’: Michelle Obama Complains About Being Known as ‘Barack Obama’s Wife’
Johnson warns House Republicans to ‘stay healthy’ as GOP majority shrinks to the edge
Navy Under Secretary Hung Cao says personnel discharged over vaccine mandate were ‘failed’
Pentagon plans to give South Korea primary role in deterring North Korea threats under new strategy
Minnesota ‘on the clock’ as HHS threatens penalties over childcare fraud scandal
Man who allegedly threatened to shoot ICE agents had rifles, body armor and ammo cache, feds say
RNC regroups and recalibrates for midterm election fight
Anonymous letter to California GOP chapter calls for war on ICE, urges agents be sent ‘home in a body bag’
Thousands march through Minneapolis, swarm Target Center demanding ICE removal from Minnesota
Christians Beaten, Abducted in Nigeria as Church Service Attacked, Prayer Books Desecrated, and Worship Instruments Broken
FBI Director Kash Patel hails transfer of Most Wanted fugitive Alejandro Rosales Castillo after Mexico arrest
GOP Rep. Releases Footage to Preemptively Crush Democrats’ ICE Detention Facility Stunt
NPR reported that Burr made ominous comments about coronavirus behind closed doors last month.
“There’s one thing that I can tell you about this: It is much more aggressive in its transmission than anything that we have seen in recent history,” Burr said at a Feb. 27 meeting of business leaders in Washington. “It is probably more akin to the 1918 pandemic.”
Loeffler was appointed to the Senate in December by Georgia Gov. Brian Kemp after incumbent Sen. Johnny Isakson resigned because of health issues – despite allies of President Trump having urged Kemp to select Rep. Doug Collins instead.
Loeffler and her husband, Jeffrey Sprecher, chairman of the New York Stock Exchange, sold stock Jan. 24, the same day she sat in on a briefing from two members of Trump’s Coronavirus Task Force, The Daily Beast reported.
Between that day and Feb. 14, the couple sold stock worth a total between $1.2 million and $3.1 million, the report said. In addition to the sales, they also purchased stock in a maker of software that helps people work at home – just before millions of Americans were forced to leave their offices because of the outbreak, the report said.
Loeffler slammed the Daily Beast report as a “ridiculous and baseless attack” in a pair of late-night tweets.
The Tide Has Turned on DEI in Nearly Every Major Institution, But Teachers and Educators Refuse to Ditch It
Hawaii RNC members pay their way to represent state: ‘It’s not a cheap hobby’
Cruz back in Texas after photo of him boarding plane sparks backlash ahead of winter storm
‘I Went to Princeton and Harvard!’: Michelle Obama Complains About Being Known as ‘Barack Obama’s Wife’
Johnson warns House Republicans to ‘stay healthy’ as GOP majority shrinks to the edge
Navy Under Secretary Hung Cao says personnel discharged over vaccine mandate were ‘failed’
Pentagon plans to give South Korea primary role in deterring North Korea threats under new strategy
Minnesota ‘on the clock’ as HHS threatens penalties over childcare fraud scandal
Man who allegedly threatened to shoot ICE agents had rifles, body armor and ammo cache, feds say
RNC regroups and recalibrates for midterm election fight
Anonymous letter to California GOP chapter calls for war on ICE, urges agents be sent ‘home in a body bag’
Thousands march through Minneapolis, swarm Target Center demanding ICE removal from Minnesota
Christians Beaten, Abducted in Nigeria as Church Service Attacked, Prayer Books Desecrated, and Worship Instruments Broken
FBI Director Kash Patel hails transfer of Most Wanted fugitive Alejandro Rosales Castillo after Mexico arrest
GOP Rep. Releases Footage to Preemptively Crush Democrats’ ICE Detention Facility Stunt
As confirmed in the periodic transaction report to Senate Ethics, I was informed of these purchases and sales on February 16, 2020 — three weeks after they were made.
— Senator Kelly Loeffler (@SenatorLoeffler) March 20, 2020
