TWO SENATORS VIOLATE THE STOCK ACT BY SELLING OFF THEIR STOCK USING INSIDER INFORMATION FROM CLASSIFIED BRIEFINGS

Senators Burr & Loeffler

Two US Senators have been found to have sold off much of their holdings in publicly-traded securities, in advance of public knowledge of the extent of the upcoming dangers to the economy presented by the Coronavirus. Insider Trading, the illegal use of insider non-public information to gain a financial advantage has a counterpart in the US congress; its is known as the STOCK Act, for "Stop Trading on Congressional Knowledge Act." Passed in 2012, it prohibits members of Congress to trade securities, based upon knowledge that they acquire by virtue of their positions. There have been calls for his resignation.

One of the Senators actually gave a special talk, alerting members of a private organization to the dangers, based upon his inside knowledge, gained in classified briefings of the Intelligence Committee.The two Senators who have ben accused of violating the STOCK Act curiously sat next to one another during the Impeachment trial.