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Justice Department is looking into stock transactions made by Richard Burr ahead of market crash: CNN

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Before the Dow Jones markets crashed, Republican elected officials on key committees were caught selling off hefty sums of stocks. It’s a crime to use insider information from the government or the business to profit, but that’s exactly what economics experts think these officials did. Now at least one of those officials is being investigated, CNN reported Sunday.

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One, in particular, was Sen. Richard Burr (R-NC), who dumped $1.6 million in stocks after he tried to tell the American people that everything was fine and the country was prepared for the coronavirus.

According to CNN, the FBI and the SEC are coordinating in the early stages of an investigation, and they have reached out to Burr. His committee had received periodic briefings about the virus that were closed to the public, though they did not have a briefing the week Burr dumped his stocks.

“Burr’s sales represent a sizable share of his portfolio of stocks, according to his latest Senate financial disclosure documents filed in May 2019, although exact numbers aren’t possible because lawmakers only report trades as a range of dollar values,” CNN reported.

Burr’s lawyer Alice Fisher said that he “welcomes a thorough review of the facts in this matter, which will establish that his actions were appropriate.”

“The law is clear that any American — including a Senator — may participate in the stock market based on public information, as Senator Burr did. When this issue arose, Senator Burr immediately asked the Senate Ethics Committee to conduct a complete review, and he will cooperate with that review as well as any other appropriate inquiry,” the statement also said.

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Burr wasn’t the only one, Sen. Kelly Loeffler (R-GA) dumped 27 stocks between $1.275 million and $3.1 million at some point between January 24 and February 14, Senate records revealed.

“They also purchased three stocks at a value of $450,000-$1 million, including shares in Citrix, a software company that’s gained approximately 15% in value since Loeffler and her husband bought the stock last month,” CNN reported.

Loeffler denies any allegation that she did anything illegal.

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Sen. Dianne Feinstein’s (D-CA) husband sold $1.5 million and $6 million in stock of Allogene Therapeutics, a biotech company, in January and February. She said in a statement that she has nothing to do with her husband’s financial decisions. The company was a cancer treatment company and had nothing to do with the coronavirus, she said on Twitter.

Sen. Jim Inhofe (R-OK) sold off $180,000 and $400,000, in January, and another for $50,000-$100,000 in February. In a statement, he said he has no involvement in his investment decisions.

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Read the full report at CNN.com.


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Trump openly solicits payment to US treasury for his ‘approval’ of TikTok sale – which he is forcing

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President Donald Trump says he is allowing Microsoft to purchase the U.S. assets of the popular Beijing-based TikTok social media video sharing app, in a sale Trump personally is forcing.

In discussing what he sees as the broad portions of an agreement the President used a real estate term to openly solicit the payment that would have to be made to the U.S. Treasury.

"I said a very substantial portion of that price is going to have to come into the U.S. Treasury of the United States, because we're making it possible for this deal to happen," Trump told reporters Monday afternoon.

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Andrew Cuomo rips Trump like never before: ‘This was the worst government blunder in modern history’

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Gov. Andrew Cuomo (D-NY) on Monday accused President Donald Trump of presiding over "the worse government blunder in modern history."

At his daily COVID-19 briefing, Cuomo said that it was time for the president to hit the "reset button" on his handling of the pandemic.

"If we don't tell the truth on the reset, COVID will never end," the New York governor explained. "It will ricochet across the country. It will just bounce back and forth."

"This was a colossal blunder -- how COVID was handled by this federal government," he continued. "Shame on all of you. Six months, lives lost. Hit the reset button, yes."

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Trump snaps at Jim Acosta for reminding him of coronavirus death toll: ‘Fake news CNN’

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President Donald Trump on Monday snapped at CNN's Jim Acosta when he reminded the president that the novel coronavirus so far has killed 155,000 Americans.

During a question-and-answer session with reporters, the president boasted that the United States had done an "amazing" job at handling the COVID-19 pandemic, at which point Acosta interrupted him and tried to ask him about the 155,000 people who have died from the disease in just five months.

"The U.S. has so many deaths," Acosta said.

"Hold it!" Trump replied.

"So many countries around the world..."

"Fake news CNN," he said. "Hold it. We have done a great job in this country. We haven't been given enough -- not me, Vice President Pence, the task force -- have not been given the kind of credit."

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