Senator Burr Dumped Stocks Before Public Knew What was Coming

This is how out politicians exit office as millionaires. In a just world, Senator Burr would be tarred and feathered.

The chairman of the Senate Intelligence Committee, Sen. Richard Burr, dumped between $582,029 and $1.56 million of his stock holdings as he was getting coronavirus warnings.

ProPublica reported that on February 13 Burr sold of stock holdings in 29 separate transactions. A week later the stock market started its downward trend, now losing about a third of its value.

Burr dumped $150,000 worth of shares of Wyndham Hotels and Resorts stock and $100,000 worth of shares of Extended Stay America.

The hospitality industry has been one of the worst shattered in this collapse.

18 Responses to Senator Burr Dumped Stocks Before Public Knew What was Coming

  1. Jason says:

    Time for prison.

  2. Kevin Scheunemann says:

    Agreed.

    They need to be gone.

  3. Kevin Scheunemann says:

    Diane Feinstein also did this, so I am including her in my comments.

    Liberals will fight for her to the death, because they will view ger with pure motives… being down for the intersectional PC cause.

  4. Pat says:

    One Democrat and three Republicans sold off stock after briefing. Shameful! They all should resign and be tried for insider trading.

  5. Pat says:

    Ron Johnson was one of the Republicans who dumped stock.

  6. jjf says:

    Yeah, but why was OurDumbSenator.com dumping PACUR stock?

    Kevin, even FOX News said Feinstein’s stocks are in a blind trust.  You don’t trust a blind trust?

  7. Le Roi du Nord says:

    Anyone that intentionally benefited from inside information should be prosecuted, R or D.

    Why was Burr warning his donors about the seriousness of the virus while trump was calling it a hoax?

  8. Pat says:

    Kevin,

    Please join me in denouncing Ron Johnson, and call for his resignation.

  9. Mar says:

    Pat, can you provide a link about Johnson. I can’t seem to find it.

  10. Owen Owen says:

    This was a story that liberals jumped on and got immediately exposed for being idiots. Johnson sold his private company to a PE firm. This showed up as a stock sale on his Senate reports, so the liberals jumped on it assuming that he dumped public stock in advance of the crash. In fact, it was a private sale that was not related to the public market or Coronopanic at all. Some folks lack the financial and business acumen to understand such transactions.

  11. Mark Hoefert says:

    can you provide a link about Johnson

    Not sure if there are stories about insider trading by Johnson, but there is this one.

    https://www.rawstory.com/2020/03/third-gop-senator-caught-dumping-stock-before-the-market-crash-this-time-up-to-25-million-worth/

    Ron Johnson sold equity in a privately held company.  Insider trading applies to publicly traded stock market transactions.

    Problem is people who don’t know shit from shinola on certain topics suddenly become “experts”, like on the topic of public traded equities versus privately held equities.

    “I deleted a tweet about Ron Johnson’s stock dump because “stock dump” wasn’t a accurate description — Johnson sold off his share in his family’s company — here’s the filing.”

    “Unlike Burr and Loeffler, Johnson is not a member of Senate health or intelligence committees.”

    “A San Francisco-based private equity firm, Gryphon Investors, has made an equity investment in Oshkosh-based Pacur LLC, the supplier of specialty plastic packaging materials to the medical device industry that was led by Wisconsin Sen. Ron Johnson prior to his election to the U.S. Senate in 2010.”

    Imagine the headlines if he was profiting from a company that might be seeing increased business due to the Corona virus.

     

  12. Mark Hoefert says:

    Sorry Owen, I was busy composing my comment while you posted yours, so it may seem like I am echoing what you said.

  13. Mar says:

    Gee, another liberal caught lying here.
    Shocking, just shocking.

  14. Pat says:

    I erred by misinterpreting the story and I apologize.

  15. Mar says:

    Thanks Pat. At least you have decency to admit to a mistake, unlike a certain other pathological liar here.

  16. Tuerqas says:

    The biggest advantage of the wealthy in the stock market is that most have professionals who react directly to market expectations and get them situated before the crashes.  This downturn was pretty obviously fore-casted to everyone, but 401k portfolios are not monitored like that.  Some group has to take a hit if the wealthy are to retain their money.  The system is set up for us to be the lambs at slaughter.  Most of the wealthy had their portfolios adjusted immediately and mitigated their losses.  Blame the system if you want, but most of the wealthy could ‘appear’ to have insider trading in their portfolios prior to this man-made downturn.  I would call it responsible money management.

  17. dad29 says:

    tarred and feathered.

    You’re an easy judge, Owen.  I started with rope and trees, some assembly required…..

  18. jjf says:

    O RLY, Dad29!  Who were you hanging?

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