Media reports allege stock sales by Sens. Burr, Loeffler were timed close to a coronavirus briefing, but illegality is not clear
by Rachel Koning Beals
A former federal prosecutor and other attorneys weighed in Thursday as media reports questioned recent stock selling by prominent lawmakers who were reportedly privy to early, frequent warnings about the risks of coronavirus, and in at least one case publicly downplayed such risks, while unloading their investments.
Recent stock selling by Sen. Richard Burr, R-N.C., and Sen. Kelly Loeffler, R-Ga., were in the spotlight as worries about the deadly COVID-19 pandemic and its crippling effect on the global economy has wiped out roughly 30% from the stock market since late January. Stocks US:SPX US:DJIA were higher Thursday as central banks took more unprecedented action to shore up financial markets.