While Sens. Richard Burr and Kelly Loeffler sought to explain sales of stock, they weren’t the only elected officials to buy and sell stocks at key moments in the unfolding coronavirus crisis
While Sens. Richard Burr and Kelly Loeffler sought on Friday to explain sales of stock made at a time when they were reassuring the public about the coronavirus threat, they weren’t the only elected officials to buy and sell stocks at key moments in the unfolding crisis.
“The reality is that if you work on the Hill, or you work in government, you have access to information that the public doesn't have or, if they have it, they can’t always see the signal through the noise,” said Meredith McGehee, executive director of the watchdog group Issue One. “If you’re on the HELP Committee, you’re going to grasp threats much faster than the general public. You see things much more clearly.
Davis, the 10-term California Democrat who is a member of the House Armed Services and Education and Labor Committees, unloaded stock on Feb. 11 in the airline and cruise industries, two sectors that have since been ground to a halt by the pandemic nearly two weeks before the market tanked. Davis’ spokesman said she has a “third party handling her portfolio and does not play a role in the purchase or sale of her stocks.
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