Unelected appointee Sen. Kelly Loeffler of Georgia is under fire for selling off stock shortly after a Senators-only meeting about the coronavirus in February.
Big League Politics reported on Loeffler’s suspicious sell-off on Thursday:
Sen. Kelly Loeffler (R-GA), who was appointed to her post undemocratically against the wishes of President Donald Trump, has been revealed for selling stock shortly after a private briefing on the coronavirus.
She and her husband sold off a stunning seven figures worth of stock options after the Senate Health Committee held a private meeting with all Senators to brief them about the growing coronavirus epidemic.
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“Appreciate today’s briefing from the President’s top health officials on the novel coronavirus outbreak. These men and women are working around the clock to keep our country safe and healthy,” Loeffler wrote in a tweet about the briefing at the time.
Loeffler dumped stocks worth between $50,001 and $100,000 in Resideo Technologies following the hearing. The stock for Resideo has dropped by half since that point, as the Dow Jones has tanked by losing roughly 10,000 points.
She also made a buy of between $100,000 and $250,000 in Citrix, a tech firm specializing in teleworking that has bucked the market during its downturn due to the increased demand for remote networking because of coronavirus.
Fox News attempted to cover for Loeffler, who is the favorite candidate of the Republican Party establishment, by painting her as a diligent public servant fighting to help the ordinary people as they are devastated by the coronavirus pandemic.
She appeared on “America’s Newsroom” on Friday where she made excuses for her disreputable behavior.
“So, if you actually look at the personal transaction reports that were filed, it notices at the bottom that I’m only informed of my transactions after they occur — several weeks. So, certainly, those transactions — at least on my behalf — were a mix of buys and sells. Very routine for my portfolio,” Loeffler told Fox News host Ed Henry.
“Who are these third-party advisers? They seem to have a good idea about where the market was headed,” Henry retorted.
“Well certainly I am not involved in the decisions around buying and selling,” she said, alleging that she understands zilch about her own finances.
“I come out of the financial services industry where I have over 20 years of experience of dealing and complying with very strict standards around material non-public information. I’m the only chartered financial analyst in the Senate,” Loeffler added, rattling off credentials that make it seem very dubious that she knew nothing of her own stock being sold.
Henry asked if it was a “conflict” of sorts because Loeffler’s husband is the CEO of the company that owns the New York Stock Exchange. Loeffler defended her insider connections and gave lip service to the public.
“I’m up here in Washington working for hard-working Georgian families and families across our country so that the American dream can stay intact. I’ve spent the last ten days, 24/7, around the clock, working to hear the stories of our hard-working Georgians – waitresses, hospital administrators, state and county public health officials – to figure out what is needed,” she said as Henry cheered her on.
While Henry gave Loeffler an easy interview, he did hit her with one question at the end that exposed the RINO lawmaker.
“If the Securities Exchange Commission or other entities like the Senate Ethics Committee want to look at this, are you going to cooperate fully?” he asked Loeffler.
“Absolutely,” Loeffler responded with her body language giving her away, as she nodded her head as if to say “no.”
The entire interview can be seen here:
Loeffler will be on the ballot against Rep. Doug Collins, who was President Trump’s endorsement for the position, in November.