Glad he was able to dump his 1.6m portfolio

3/20/2020 9:47:41 AM

Richard Burr and his wife Brooke sold between $581,000 and $1.5 million in publicly traded stocks on February 13 and didn't buy any new positions, according to the Center for Responsive Politics.






[Edited on March 20, 2020 at 10:55 AM. Reason : ]

3/20/2020 10:48:30 AM

This asshole is done politically

Hopefully

3/20/2020 11:20:30 AM

https://twitter.com/TwinklingTania/status/1240827417087770624

Quote :

"According to stock sales disclosures by Senators after a closed door briefing on January 24 about the Coronavirus threat, the following senators sold stocks: Senator Richard Burr Senator Kelly Loefner Senator Dianne Feinstein, Senator Ron Johnson Senator Jim Inhofe"

Fucking Feinstein lol

3/20/2020 11:20:45 AM

I didn't verify this

Quote :

"Reminder: In 2012, the Senate passed the Stop Trading on Congressional Knowledge Act (STOCK Act) by a 93-2 vote. One of the two who voted against it was Richard Burr."

3/20/2020 11:38:23 AM

https://twitter.com/lachlan/status/1240991730540961793?s=21

Good thread. Burr and especially Loeffler look to have some real exposure here. Johnson, Inhofe and especially DiFi look pretty innocuous.

Remember, nuance does exist and it’s important.

But as for this thread title. Yes. 100%z

3/20/2020 11:47:47 AM

Yeah, that Citrix buy from Loeffler after dumping her stuff is shady.

3/20/2020 12:05:58 PM

Ol’ Dick Burr circa 2009, after telling his wife to pull all their cash out of the bank earlier in 2008 (likely also using insider Info):

Quote :

" Absolutely I'd do it [again],"

https://www.huffpost.com/entry/burr-encourages-run-on-ba_n_187085

Guy has been looking out for himself for a while now. I wish we could have gotten rid of him in 2016, but if we can get him to resign in disgrace before he retires, that’d be a small win. The potential for two senate races in November (if we go special elections route) has me salivating.

3/20/2020 12:39:10 PM

String him up and all of the other offenders. Also the worst of it is knowing how serious the situation was and covering it up for so long.

3/20/2020 12:39:57 PM

Quote :

"Johnson, Inhofe and especially DiFi look pretty innocuous. "

Why are we excusing Feinstein, or any of these people? They sold with insider knowledge of an upcoming crisis, believing it to be the right personal decision. They all cashed out.

[Edited on March 20, 2020 at 12:41 PM. Reason : .]

3/20/2020 12:40:22 PM

Feinstein is claiming all her stock assets are in a blind trust. The stock her husband sold was like a cancer drug company, which just doesn’t seem as damning as the other sales I’ve seen listed.

It seems possible they were just selling assets.

[Edited on March 20, 2020 at 12:45 PM. Reason : Those claims need to be verified, but it seems likely it’s a nothingburger from the info I’ve seen.]

3/20/2020 12:43:23 PM

I'm not inclined to give them the benefit of the doubt but we'll see.

3/20/2020 12:45:36 PM

I got flamed on here for talking shit about feinstein during the 2018 election. It made no sense that voters picked her over the progressive opponent. She has always been a corporate shill.

3/20/2020 1:18:52 PM

Quote :

" Why are we excusing Feinstein, or any of these people? They sold with insider knowledge of an upcoming crisis, believing it to be the right personal decision. They all cashed out."

I mean, read the thread. Inhoffe (sp?) in particular didn’t cash out. He was making transactions left and right all year long. Didn’t make any particularly curious trades and continued to be fully invested.

Facts and nuance matter. No members of Congress should actively manage portfolios and we should pass a law banning it. No argument here.

[Edited on March 20, 2020 at 2:02 PM. Reason : X]

3/20/2020 2:02:14 PM

Not that I enjoy defending congress critters, and I fully acknowledge that their public speech didn't match their personal behavior, but they sold their stock at the same time I decided to buy a bunch of stuff from Costco in anticipation of having to live out of my freezer. I was anticipating the quarantines. I wish I had anticipated that the markets would go as deeply to shit as they did so that I too could have sold off my investments. That was a consequence of Covid-19 that I just didn't think of. Selling off your stuff while telling the public not to worry is shitty. But realizing the potential need to divest didn't require access to non-public information. I'll wager that their briefing specifically outlined potential market effects, but, again, anticipating those effects didn't require access to non-public knowledge.

I want to feed a lot of congress into the woodchipper, but this isn't one of the things that makes me feel that way. Maybe. We'll see how I feel about this specific duplicity over time.

3/20/2020 2:25:50 PM

It doesn't matter if it "required" non public information, the bar for insider trading is quite low when they decide to enforce it, and this clears that bar by miles. They had access to material non public information and traded on it.

Quote :

"got flamed on here for talking shit about feinstein during the 2018 election. "

[citation needed]

[Edited on March 20, 2020 at 3:00 PM. Reason : E]

3/20/2020 2:50:00 PM

If the SEC prosecutes them I'm not going to lose sleep over it.

But, it's not like they bought a bunch of put options. If they did... #teamwoodchipper

3/20/2020 5:19:20 PM

Trading aside, What about how they didn't do their job in sharing critical information, broke their oath, and are negligent in thousands of additional deaths?

3/20/2020 5:39:59 PM

Yes. That exactly. Especially the ones who literally went on cable news and lied about it for WEEKS.

Also, that aside, ban any active management of equities for any sitting members of Congress.

3/20/2020 5:54:18 PM

He's a Republican and I'm not sure the laws apply to them.

3/20/2020 8:23:07 PM

Holy shit. Tucker grilled Loeffler. Yeah his nationalistic views or whatever but he is always straight forward and is doing great work on this. Its going to go a long way towards turning his viewers and thus the republicans against these assholes.

3/20/2020 8:44:46 PM

https://twitter.com/markmobility/status/1245368546693197831?s=21

The other half dozen instances I’m willing to give some semblance of a benefit of the doubt to; even Burr tbh.

But man, Loefler is (or should be) in a world of trouble.

4/1/2020 3:04:35 PM

Loeffler's is only obviously worse than Burr's because she and spouse are WAY richer than Burr. If Burr had the market dick size Loeffler has he would've done the exact same.

Hang them both.

4/1/2020 3:10:12 PM

^^ #teamwoodchipper

4/1/2020 4:24:23 PM

So why are they still members of Congress?

Charlie fucking Kirk tweeted she should be out. And Tucker Carlson called for them to resign. When these two agree a R is in trouble then you know it should be a done deal.

4/3/2020 12:53:07 AM

shame doesn’t exist anymore

especially in the GOP

4/3/2020 11:02:24 AM

https://www.npr.org/2020/04/16/836126532/senator-burrs-pre-pandemic-stock-sell-offs-highly-unusual-analysis-showsc

Quote :

"Senator Burr's Pre-Pandemic Stock Sell-Offs Highly Unusual, Analysis Shows Sen. Richard Burr's sale of up to $1.7 million in stock shortly before the recent market crash was one of the lawmaker's only market-beating trades since record-keeping began eight years ago, according to a new study. The new analysis, presented by researchers at Dartmouth University, shows just how unusual the North Carolina senator's transactions were. On a single day, Feb. 13 of this year, Burr unloaded a significant portion of his net worth — a departure from his typically low-volume trading history. The Senate Intelligence Committee Chairman was generally a poor stock-picker, said Bruce Sacerdote, an economics professor at Dartmouth who worked on this analysis along with two of his students. In fact, most U.S. senators over the course of the past eight years have only found middling success in the stock market, their study found. Between 2012 and present, Burr picked stocks that performed poorly: On average, six months after he bought a stock, it was down .8% relative to stocks in the same industry; after a year, his stocks were down by 6% compared to that benchmark. "Burr has relatively lousy performance over the broad period," says Sacerdote. "It's not like he's a stock-picking genius." Burr also did not typically trade in high frequencies. Between 2012 and 2019, he made on average 3.2 stock sales transactions per quarter. But on Feb. 13 of this year, Burr made more than 30 stock sales. .... .... (more) "

[Edited on April 16, 2020 at 3:45 PM. Reason : ]

4/16/2020 3:44:40 PM

Pretty difficult to believe the claim that no one knew how bad covid would be when the chair of the Senate Intelligence Committee obviously fucking knew

4/16/2020 8:50:27 PM

https://www.latimes.com/politics/story/2020-05-13/fbi-serves-warrant-on-senator-stock-investigation?_amp=true&__twitter_impression=true

5/13/2020 10:53:06 PM

^^

5/13/2020 11:32:46 PM

Not a big fan of twitter people suggesting this is payback for Burr’s cmte producing a reasonable Russia report. Burr was mentioned in the Mueller report as a backchannel to the whitehouse. Isn’t it just as likely that a battered, overly politicized DOJ needed a win that plays well in public and among rank and file prosecutors? Burr isn’t a victim.

5/14/2020 5:07:40 AM

We should see if DOJ leaks a raid on Loefler now too.

I mean, fuck Burr, but any assumption of DOJ regularity under Barr is Glenn Greenwald level of cognitive dissonance.

5/14/2020 6:50:34 AM

well you are definitely right that any move the DOJ makes should rightly be viewed with extreme skepticism at this point.

also:

Quote :

"The potential for two senate races in November (if we go special elections route) has me salivating."

If Burr resigns/gets arrested (before Sept 4th? not sure on the exact special election deadline), North Carolina will IMMEDIATELY become the 2020 epicenter for control of the Senate, and thus probably the country.

5/14/2020 7:40:26 AM

Burr's brother in law also sold stocks at the same time. I think it would be easier to prove insider trading if there were communications between the two. Loeffler may be under investigation, but I don't think there would be a need for her phone records. Who knows though, I don't trust Burr's DoJ one bit

5/14/2020 7:45:18 AM

rofl, look what Burr changed his tweeter pic to https://twitter.com/senatorburr?lang=en

5/14/2020 8:14:18 AM

Why would he do that? I don't understand the motive.

5/14/2020 8:59:38 AM

Loeffler hasn't been served warrants, doesn't appear under investigation. Burr has. Both dumped a FUCK TON of stocks. Burr is less friendly with Trump.

I think this is a passive aggressive warning

5/14/2020 9:01:15 AM

Stepping down as chair of the intel committee.

5/14/2020 12:18:36 PM

So the play is to put someone in charge that'll go after Biden?

5/14/2020 1:02:19 PM

^ if they don't go after loeffler too, or release some credible info why her trades were different, we'll know that was a barr hit job on burr. Really disturbing though we even have to question whether the FBI is colluding with the President to install lap dogs throughout government.

5/14/2020 1:08:14 PM

Feinstein said the FBI asked her questions, loeffler was no comment

5/14/2020 1:44:37 PM

They seized Burr's phone, so he likely had a text or email to his brother-in-law warning him about a market downturn. Feinstein and Loeffler might not have anything as incriminating.

Intel committee also backed the Mueller Report findings about Russian interference, so he was probably on a shit list or two.

5/14/2020 3:51:54 PM

Well we all know what this means in regards to punishment. He'll be made governor shortly. Either that, or NC will be rewarded with a third(!!!) GOP senator.

5/15/2020 10:35:19 AM

it seems the SEC is looking into this. he's already gotten over $500k in donations for his legal support, much from other senators

10/28/2021 6:09:37 PM

WTF

10/28/2021 8:14:58 PM

Quote :

" Burr's brother in law also sold stocks at the same time. I think it would be easier to prove insider trading if there were communications between the two."

As this post suggested…yeah there was communication.

Quote :

" The SEC, in a new filing in its civil case, said that Burr, at 8:45 a.m. on Feb. 13, 2020, called his stockbroker to sell more than $1.65 million worth of stock, "all but one of the equities in his and his wife's joint individual retirement account ... portfolio." At 11:32 a.m. that day, Burr called Fauth's cellphone, according to the filing in U.S. District Court in Manhattan. "The call lasted 50 seconds." At 11:33 a.m., a minute or less later, Fauth called his primary stockbroker's landline, the SEC said. After failing to reach his first broker, Fauth called a second broker within two minutes and "directed her to sell several stocks in his wife's account," the filing reveals."

https://apple.news/ApvPHWpM_RpapVi3AVVh-eA

Fuck em

10/30/2021 7:52:16 AM

As a 7/66 holder I think it’s criminal for them not to operate in a blind trust while in office. Congressional office private conversations are too prone to front run a trade. If I did it my license would be at risk. It’s not a generic party issue imho. Both sides are privy to non public material information. If I tell you about inside info and you trade on it we both go to jail and I lose my licenses. Even if you didn’t know I was giving you NPI. They get a way with insider trading with no impunity.

What’s worse here is that anyone he leaked the info to and anyone they leaked info to can be prosecuted but the Congress people skate by the SEC.

[Edited on November 25, 2021 at 2:13 PM. Reason : .]

11/25/2021 1:57:38 PM