Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘Richard Burr’

Greedy Corrupt U.S. Senators

Posted by Warm Southern Breeze on Monday, April 20, 2020

Appointed Georgia Senator Kelly Loeffler, R

The United States Senate is controlled by a corrupt cabal of Republicans, none of whom are racial/ethnic minority. It’s LITERALLY (at least on the GOP side) an all-White enclave – with one extraordinary exception: Tim Scott of South Carolina – the Senate’s only Black Republican.

Yesterday at his incessant bully pulpit coronavirus harping press conference, the Liar in Chief claimed to not have known about her insider trades. That, strangely coming from a man who prides himself in, and publicly boasts about having all sorts of knowledge, and whom is known to be well-attuned to media (especially television, and Twitter) of all kinds.

Here’s the pertinent excerpt from the “Remarks by President Trump, Vice President Pence, and Members of the Coronavirus Task Force in Press Briefing” (linked above) held in the James S. Brady Press Briefing Room, April 19, 2020, 6:28 P.M. EDT:

Q: Mr. President, why on that task force did you include Senator Kelly Loeffler? There’s some questions about whether she may have —

THE PRESIDENT: Well, because she’s the senator from a great state, a state that I love: Georgia.

Q: But there’s some insider trading issues with her.

THE PRESIDENT: Well, I — that, I don’t know. I really don’t know about that. But she’s a senator from Georgia, and she was included in the list, absolutely.

Go ahead. A couple of more. Go ahead, please. Yeah.

Most folks want to talk about Richard Burr, the first known case of Insider Trading on coronavirus information in the Senate..

But when we’re talking about Insider Trading, let’s not forget the gubernatorially-appointed Georgia Republican Senator Kelly Loeffler, whom $old million$ of dollar$ of $tock THE VERY DAY (January 24) she attended a private, Senators-only meeting about coronavirus, and Tweeted about it. The Daily Beast was the first news outlet to report her nefarious deed.

But, let’s take a look at who’s shafting the American public by NOT playing fair and square and abusing their insider knowledge:

• Richard Burr, Republican North Carolina Senator – Net Worth $3M+

• Kelly Loeffler, Republican Georgia Senator – Net Worth $500M+

• James M. Inhofe, Republican Oklahoma Senator – Net Worth $9M+

• Ron Johnson, Republican Wisconsin Senator – Net Worth $30M+

Senator Richard Burr, R-NC

• Diane Feinstein, Democrat, California Senator – Net Worth $90M+

Nope, no trend or common denominators at all. Totally random. /sarcasm

All Senators,
80% Republican,
60% Male,
97% White,
100% Multi-Millionaires

• When he retires from the Senate in 2022, Burr will have been in Congress (House & Senate) a TOTAL of 27 years

• Loeffler is married to the CEO of the company that owns the New York Stock Exchange, and numerous other fims, is a political “newbie” appointed by Georgia Republican Governor Brian Kemp to temporarily fill the unexpired 2016 term of Johnny Isakson who resigned 31 December 2019 to care for his Parkinson’s disease. Loeffler intends to campaign for the office during a Special Election.

• Inhofe has been in Congress 33 years, and 17 years in Oklahoma State & Local politics TOTAL POLITICAL TIME=50 years

• Johnson is a political newcomer, and was first elected in 2010 to the US Senate
TOTAL POLITICAL TIME=10 years

• Feinstein was first elected to the Senate in 1992, before that she was 18 years in California Local politics
TOTAL POLITICAL TIME=46 years

Here’s a very simple solution:

Require all such financial assets (stocks, bonds, securities, including real estate, etc.) to be placed into a Blind Trust for the duration of their term of office.

Problem solved.

Insider trading by Congress? It’s time to fix the law

By Patrick Augustin, Francis Cong and Marti G. Subrahmanyam, Opinion Contributors — 04/19/20 01:30 PM EDT


Is trading by Congress illegal? Should members of Congress be allowed to trade financial securities that are sensitive to private information? The “coronavirus trades” made by Sen. Richard Burr (R-N.C.) and his wife just prior to the March ’20 market crash raise these questions and signal the need for changes to the law. Some proposals go as far as banning stock trading by members of congress outright. The other extreme is to allow full discretion. The right solution is in between: Only allowing public officials to trade securities based on broad market indices.

The concern over insider trading by members of Congress is not new. Academic research shows that investment strategies that mimic trades by members of thU.S. Senate and thHouse of Representatives outperform the market by more than Read the rest of this entry »

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