Corrupt Republican U.S. Senator Richard Burr of North Carolina sits on the U.S. intelligence committee. After receiving a briefing in February on the likely devastating economic impacts of the coronavirus, he told members of a rich folks club called the Tar Heel Circle about what was coming and how devastating the coronavirus was going to be. It costs $500 to $10,000 to gain membership into the Tar Heel Circle. Members represent major corporations based in North Carolina and major campaign donors.
They now had inside knowledge during the meeting of what was going to happen and, if they had any brains, they got out of the market, like Burr did.
Corrupt U.S. Senator Diane Feinstein also sits on the intelligence committee and she received the same information as Burr. Allegedly through her husband, she sold hundreds of thousands of dollars of stock and escaped just before the financial and economic hurricane hit the United States. She is as guilty as Burr of insider trading and both should be charged with insider trading.
Republican Senator Kelly Loeffler sold over three million dollars of shares after a private briefing in the U.S. Senate about the likely negative economic impacts of the coronavirus. Loeffler claims she has a third party manage her shares and she had nothing to do with the sale of her assets. Of course, just like Feinstein, she could have passed on information to the third party. Her rationale sounds flimsy.
Nowadays the 1 percent steal about 38 percent of all income produced in the United States compared to 8 percent in 1980. Three men own more wealth than the bottom 50 percent of the population. Control of the political process and the corruption of both major political parties, as well as the conservative/corporate wing of the United States Supreme Court, has made this possible. Receiving insider information on the coronavirus and its likely financial impact on the United States is just one small reason why income and wealth inequality in the United States and throughout the world over the last forty years has grown.
None of these corrupt senators bothered to tell the public of what was coming. Corruption reigns throughout the congress. Do not expect a serious congressional investigation.
