Soon after he offered public assurances that the government was ready to battle the coronavirus, the powerful chairman of the Senate Intelligence Committee, Richard Burr, sold off a significant percentage of his stocks, unloading between $582,029 and $1.56 million of his holdings on Feb. 13 in 29 separate transactions.
And here’s the worst part:
Believe it or not, Sen. Burr’s activities were not illegal. There is no law against members of Congress using information that they gain through their position in the stock market. Burr is not one of the richest members of the Senate, but he was still able to avoid a 30% stock loss by using information that other investors didn’t have.
And we wonder how we elect people of middle class means to Congress and they retire millionaires. WTF? This should certainly be illegal. Particularly given that the inside information that he had should have been shared with the public…as soon as he knew it.
So not only has he put American lives at risk…he used that same opportunity to enrich himself (and probably his cronies).
After this has quieted down, well when we get a new Attorney General, this guy needs to answer for his inaction.