Sen. Richard Burr found himself mired in controversy after an investigation by ProPublica/The Center for Responsive Politics revealed that he and his wife sold numerous stock shares following confidential briefings on the coronavirus pandemic.
Cox added that “Burr’s been fairly open about [the fact] that we did have this intelligence briefing. We do know that was much richer than the information that was in the public domain. So we have those pieces about what he knew. And then you put that in relatively close proximity to when he knew that information and when he traded, that is particularly damning for him.” — Richard Burr March 20, 2020 ‘It wasn’t just one or two stocks’Back on Feb.
But, according to NPR, he told a private group only a few weeks later that the coronavirus “is much more aggressive in its transmission than anything that we have seen in recent history. It is probably more akin to the 1918 pandemic.” “The reason that it is is because insiders started to devise ways of doing it when it became easy to detect,” he told Yahoo Finance. If I was the CEO of a public company, it’s hard for me to trade in advance of a positive earnings announcement in my own account without being detected. Over time, people started to tip their friends and relatives so that they could do the trading for them: ‘hey, I’ll give you a tip and you just kick it back to me this way.
The stake sold was in Resideo Technologies, whose stock price lunged more than 50% in the following weeks. Loeffler and her husband, Jeffrey Sprecher , sold 26 more stocks through the month of February. Loeffler also purchased stock in Citrix, a tech company that provides teleworking software. Amid the controversy, Loeffler announced in a Wall Street Journal op-ed that she and her husband would be liquidating their individual stock shares.
I believe that they're all corrupt, to a greater or lesser degree.