WASHINGTON, DC – Here at Law Enforcement Today, we take pride in the job we do and the stories we bring you. We expect to be be called out IF we get a story wrong and we are not afraid to tell the stories about the cops who do things the wrong way. It’s called accountability and integrity.
Too bad the mainstream media doesn’t have those particular tools in their toolbox.
Earlier this week, we brought you the story of Richard Burr and Kelly Loeffler, two republican senators who are facing scrutiny from both public sources and the media about their stock-dumping shortly after a COVID-19 briefing. Almost every major news outlet has a story about the two.
Ironically, Senator Dianne Feinstein and her husband dumped close to $6 million in stock just days before the stock took almost a 25% drop. And each of those outlets have very little to say about her financial move.
And why would they report on her selling the stocks? They will never turn on one of their own.
The media is quick to call out GOP Senators when they sold stocks based on privy information,
But they forgot to call out Senator Feinstein, who sold anywhere from $1 million to $5 million in stock after a closed-door Coronavirus briefing.
— Ryan Fournier (@RyanAFournier) March 20, 2020
Even Alexandria Ocasio-Cortez tweeted her disdain.
Members of Congress should not be allowed to own individual stock.
We are here to serve the public, not to profiteer. It’s shocking that it’s even been allowed up to this point.
— Alexandria Ocasio-Cortez (@AOC) March 20, 2020
But the mainstream media? Crickets.
On a side note there, Alexandria, it is called capitalism. Members of Congress are allowed to make money…as long as they do it legally and it isn’t based strictly off of under-the-table lobby money.
Now, back to Feinstein and the stock market.
True Pundit reported that Feinstein, the ranking member of the Senate Judiciary Committee, and her husband sold between $1.5 million and $6 million of stock in biotech company Allogene Therapeutics, between January 31st and February 18th.
Allogene’s co-founder and executive chairman has been quarantined as part of the pandemic. The company and its co-founder were reportedly working to help pinpoint a vaccine for the virus and according to the company, its co-founder has been quarantined since last week. The shares that Feinstein and her husband held in Allogene have dropped 20-25% in value since the stock was liquidated.
In numerous outlet’s coverage of these stock sells, they all spent ample amounts of time on Burr and Loeffler. Feinstein was an “oh, by the way” sentence or two at the end of the stories.
Never mind the fact that what the Feinsteins unloaded was roughly $6 million. Burr, Imhofe and Loeffler didn’t dump that much combined.
It should be noted that whether the dollar amount was $6 million or just $6, if the shares were sold as part of information they were privy to that the American public was not, they violated the law and should be held accountable.
And that is exactly what Tucker Carlson said on his Thursday night segment.
“There is no greater moral crime than betraying your country in a time of crisis.”
He went on to say that Burr needed either to resign and face prosecution, or come out with an “honest explanation” of how he knew to offload all that stock just one week before the market drop by 30% if he wasn’t guilty of insider trading.
The conservative Fox News host said in response to the report:
“He had inside information about what could happen to our country, which is now happening, but he didn’t warn the public.
He didn’t give a prime time address. He didn’t go on television to sound the alarm.”
Burr allegedly dump $1.56 million in stocks, which included shares of hotels and resorts. Selling off stock, in and of itself is not a big deal.
But when you are being briefed daily on what could happen to the economy as the chair of the Senate Intelligence Committee, and you sell off close to $2 million just days before the stock market takes a nosedive, it becomes a very big deal.
Senator Burr’s spokesperson said:
“Senator Burr filed a financial disclosure form for personal transactions made several weeks before the U.S. and financial markets showed signs of volatility due to the growing outbreak.
As the situation continues to evolve daily, he has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy.”
According to ProPublica, his biggest sales included companies that are among the most vulnerable to an economic slowdown.
He dumped up to $150,000 worth of shares of Wyndham Hotels and Resorts, a chain based in the United States that has lost two-thirds of its value.
And he sold up to $100,000 of shares of Extended Stay America, an economy hospitality chain. Shares of that company are now worth less than half of what they did at the time Burr sold.
The assets come from accounts that are held by Burr, belong to his spouse or are jointly held.
Loeffler and her husband sold stock worth a total of between $1.2 million and $3.1 million. In addition to the sales, they also purchased stock in a maker of software that helps people work at home – just before millions of Americans were forced to leave their offices because of the outbreak.
Loeffler slammed reports that she had inside information as a “ridiculous and baseless attack” in a pair of late-night tweets.
I want to set the record straight: This is a ridiculous & baseless attack. I don’t make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband's knowledge or involvement.
— Kelly Loeffler (@KLoeffler) March 20, 2020
“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.
As confirmed in the periodic transaction report to Senate Ethics, I was informed of these purchases and sales on February 16, 2020 — three weeks after they were made.”
A night after Carlson went on the air and demanded that Burr resign if his stock dump violated any laws or was unethical, Loeffler appeared on his show to “set the record straight.”
Big thanks to @TuckerCarlson for having me on last night to set the record straight. I have nothing to hide and will continue to be accessible and transparent in my work to deliver real results for Georgia families. #gapol #gasen pic.twitter.com/voqFk2DBbv
— Kelly Loeffler (@KLoeffler) March 21, 2020
Ironically, as Carlson points out, Feinstein said that her husband made those stock moves and she had nothing to do with it. Loeffler said that her moves were made by a third-party trader without her knowledge.
The difference between the two?
For the mainstream media. Feinstein’s answer was taken at face value and they have steered relatively clear of her. Loeffler however, is being skewered with Burr and Imhofe as unethical lawbreakers.
Dems are Also Dirty: Senator Dianne Feinstein Sells Trading Stock Before Global Pandemic Hit https://t.co/8EcUJ0biZh
— Big League Politics (@bigleaguepol) March 21, 2020
And before we think it is only Feinstein, Charlie Kirk dropped this gem of a tweet regarding Nancy Pelosi and her stock market endeavors.
Nancy & Paul Pelosi bought 5,000 shares of Visa stock as Congress was crafting new credit card regulations
2 days later—they sold their stocks for $20 higher than they bought them
Republicans created a “Pelosi provision” to curb insider trading
Yet she calls Trump corrupt?
— Charlie Kirk (@charliekirk11) March 20, 2020
When will the mainstream media stop giving Democrats a pass?
They defended and made excuses for Hillary Clinton through numerous scandals.
They have continued to protect Joe Biden even though he admitted to doing exactly what they wanted Trump impeached for not doing.
And now, they are turning a blind eye to Democrats who may have broken the law through insider training.
So much for accountability or integrity.
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