Two more senators made hefty stock sales before the coronavirus pandemic tanked global markets, records revealed as two other lawmakers who dumped millions in shares faced mounting calls to resign.
Sens. Dianne Feinstein and Jim Inhofe sold as much as $6.4 million worth of stock in the weeks before panic about the coronavirus sparked a worldwide selloff, according to disclosure filings first reported by the New York Times.
The additional revelations came amid widespread outrage toward GOP Sens. Richard Burr and Kelly Loeffler, who reportedly sold shares after getting briefings on the coronavirus threat.
Feinstein, a California ********, sold $500,001 to $1 million worth of stock in a company called Allogene The****utics on Jan. 31, less than a month before panic about the virus caused markets to plunge, Senate records show. Her husband sold $1,000,001 to $5 million worth of Allogene shares on Feb. 18, according to financial disclosures.
And Inhofe, an Oklahoma **********, dumped as much as $400,000 worth of stock on Jan. 27, records show. He sold shares in five different companies including Apple, PayPal and Brookfield Asset Management, according to a disclosure report.
Feinstein spokesman Tom Mentzer said her husband made the transactions, not the senator herself.
“All of Senator Feinstein’s assets are in a blind trust, as they have been since she came to the Senate,” Mentzer said in an email. “She has no involvement in any of her husband’s financial decisions.”
Inhofe said he is not involved in his investment decisions. The senator asked his financial adviser in December 2018 to move his portfolio entirely out of stocks and into mutual funds in December 2018 “to avoid any appearance of controversy,” he said.
“My adviser has been doing so faithfully since that time and I am not aware of or consulted about any transactions,” Inhofe said in a statement.
The revelations came as figures across the political spectrum said Burr and Loeffler should resign for using sensitive information to cash in before fears about the virus tanked global stock markets.
“It is stomach-churning that the first thoughts these Senators had to a dire & classified #COVID briefing was how to profit off this crisis,” Rep. Alexandria Ocasio-Cortez (D-NY) said on Twitter Thursday night.
Sens. Dianne Feinstein and Jim Inhofe sold as much as $6.4 million worth of stock in the weeks before panic about the coronavirus sparked a worldwide selloff, according to disclosure filings first reported by the New York Times.
The additional revelations came amid widespread outrage toward GOP Sens. Richard Burr and Kelly Loeffler, who reportedly sold shares after getting briefings on the coronavirus threat.
Feinstein, a California ********, sold $500,001 to $1 million worth of stock in a company called Allogene The****utics on Jan. 31, less than a month before panic about the virus caused markets to plunge, Senate records show. Her husband sold $1,000,001 to $5 million worth of Allogene shares on Feb. 18, according to financial disclosures.
And Inhofe, an Oklahoma **********, dumped as much as $400,000 worth of stock on Jan. 27, records show. He sold shares in five different companies including Apple, PayPal and Brookfield Asset Management, according to a disclosure report.
Feinstein spokesman Tom Mentzer said her husband made the transactions, not the senator herself.
“All of Senator Feinstein’s assets are in a blind trust, as they have been since she came to the Senate,” Mentzer said in an email. “She has no involvement in any of her husband’s financial decisions.”
Inhofe said he is not involved in his investment decisions. The senator asked his financial adviser in December 2018 to move his portfolio entirely out of stocks and into mutual funds in December 2018 “to avoid any appearance of controversy,” he said.
“My adviser has been doing so faithfully since that time and I am not aware of or consulted about any transactions,” Inhofe said in a statement.
The revelations came as figures across the political spectrum said Burr and Loeffler should resign for using sensitive information to cash in before fears about the virus tanked global stock markets.
“It is stomach-churning that the first thoughts these Senators had to a dire & classified #COVID briefing was how to profit off this crisis,” Rep. Alexandria Ocasio-Cortez (D-NY) said on Twitter Thursday night.
Comment