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‘Bless Your Stock Dumping Heart’: GOP’s Kelly Loeffler Sold Off Stocks After COVID-19 Briefing — and Nobody’s Buying Her Explanation
Sen. Kelly Loeffler (R-GA) sold off stock holdings after hearing a private briefing on the coronavirus outbreak that has since shredded the U.S. economy — and nobody’s buying her explanation.
The Georgia Republican was among four senators — including Sen. Richard Burr (R-NC), Sen. Jim Imhofe (R-OK) and Sen. Dianne Feinstein (D-CA) — who dumped stocks after hearing the private, all-senators briefing last month about COVID-19’s threat to public health and the economy.
Loeffler tweeted about the briefing at the time, saying she appreciated hearing from President Donald Trump’s top health officials, but privately sold off many of her holdings and picked up shares in a software company that has since made money off teleconferencing work in the period of social distancing.
The senator defended herself on Twitter after the transactions became public.
“This is a ridiculous and baseless attack,” Loeffler tweeted. “I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband’s knowledge or involvement.”
This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband’s knowledge or involvement.
— Senator Kelly Loeffler (@SenatorLoeffler) March 20, 2020
But other social media users weren’t convinced.
Oh bless your stock dumping heart.
— andy lassner (@andylassner) March 20, 2020
— Bonnie J (@bonnielep) March 20, 2020
Except for the fact you and other senators sold stocks after being in meetings about a pandemic, the fact that you also bought stocks in teleconferencing companies you knew would do well, and the fact your husband is the chairman of the NY Stock Exchange, this defense checks out!
— Mike Drucker (@MikeDrucker) March 20, 2020
insider trader says what
— Jeff Tiedrich (@itsJeffTiedrich) March 20, 2020
And the fact that you had inside information and may have accidentally (on purpose) SHARED that information with these anonymous “third party” financial advisers? Hmm? I’ll wait. Meantime, over a THIRD of my investments have vanished.
— Montgomery Granger (@mjgranger1) March 20, 2020
A few points to consider:
1. She had NO stock transactions reported at all prior to the very day of the briefing.
2. Her portfolio sold 19 stocks and only bought 2
3. The stocks she did buy were in telecom, which stood to benefit from millions of people being forced to WFH https://t.co/xyNrGVPHnv— Sam Stein (@samstein) March 20, 2020
Cool cool.
I’m sure the $250k of stock you bought in the company that makes software to allow people to work from home was just a crazy coincidence.
— Darwin Brender a’ Brandis (@DTBbyTheSea) March 20, 2020
YOUR HUSBAND IS THE PRESIDENT OF THE NEW YORK STOCK EXCHANGE.
— Saeed Jones (@theferocity) March 20, 2020
Soooo… what you are saying is this is all just a big coincidence. It just so happened that you sold stock for the first time as a senator on the very day you got the briefing. Could happen to anyone. pic.twitter.com/WnCFJ9VM3N
— Mash (@thisismash) March 20, 2020
Seriously? You really think we’re going to fall for this? pic.twitter.com/tmvmuL1I6c
— Khashoggi’s Ghost (@UROCKlive1) March 20, 2020
lol you’re one of the most hated people in the country right now
— David Klion (@DavidKlion) March 20, 2020
We believe you. We’re sure that you pay no attention at all to your investments and had no communication with your financial advisors even indirectly because money is not important to you, right?
— David Cay Johnston (@DavidCayJ) March 20, 2020
You’re telling us that your husband is the NYSE chair, and he doesn’t make investment decisions on his own?
— Mike Prevost 🇫🇮🇪🇺🏳️🌈🌱 (@MikePrevost3) March 20, 2020
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