Economy

Sen. Kelly Loeffler Denies Insider Trading Allegations, Fails Again To Name Stock Manager

Published

2 years ago

April 8, 2020

Senator Kelly Loeffler, R-GA, is continuing to deny allegations of insider trading surrounding stocks she sold before the coronavirus hit the U.S. markets and failed to answer questions regarding who manages those stocks, during an interview Wednesday with Fox Business host Maria Bartiromo.

Sen. Loeffler’s ‘peek-a-boo trust’ Raising Speculation As She Refuses To Name Broker

“I have not profited. I never sought to profit from my position at the Senate. I’m here to serve all Georgians. In fact, I donate my paycheck to good charities around Georgia doing hard work serving our citizens,” Loeffler told Bartiromo.

She added, “I went to the Senate after a nearly three-decade career in the private sector, in financial services, where I conducted myself with the highest levels of integrity. Third party managers manage all of our investments. I have no communication with them. And this is cherry-picking for dates and times around events that are completely unrelated to my investment manager’s decisions or any meetings or communications I have had.”

Loeffler recently sold $46,027 worth of stock in the online travel company Booking Holdings just before President Donald Trump banned travel to most of Europe, according to Sara A. Carter’s reporting. That sale was in addition to what she sold $18.7 million in stocks she sold during February and March.

Allegations of insider trading began to surface when Loeffler purchased stocks that would perform well in a pandemic. For example, she invested in DuPont, which manufactures COVID-19 protective garments and Citrix, a telecom company.

Of her purchases, Loeffler told Bartiromo that the decisions were made by third party managers and that she “had no involvement in and had nothing to do with any meetings I’m in.”

Dan McLagan, the spokesman for Rep. Doug Collins’ campaign, Loeffler’s opponent in the upcoming Senate race, told Sara A. Carter that Loeffler’s inability to answer key questions, including answering to the identity of her stock broker, is concerning.

“Loeffler apparently has a ‘peek-a-boo trust’ rather than a blind one,” said McLagan. “She’s more concerned about her personal profit than the little people she represents with their petty worries about illness, late mortgages and cratered retirement plans.”

When asked by Carter, Loeffler denied any knowledge of the transactions and said that she’s only “notified of transactions after they occur.” Loeffler, however, failed to answer the following questions Carter sent to her office:

What type of third party broker does Sen. Loeffler have?
Who is the broker? Is there a an advisor between the broker and Sen. Loeffler?
Why not a ‘qualified blind trust?’
Questions regarding her shares of Booking Holdings are now public – according to her report of shares sold and purchased- On March 6 purchased Booking Holding -she was with President Trump at the CDC when it purchased. Then days later March 10-11, Sen. Loeffler sold off $46,027 (this was just before President Trump restricted Travel from Europe to the United States? Can you explain why these shares were sold so soon after?
What is a general comment you can provide to constituents about the situation that you are now in and what can be done to prevent this from happening again?
Would you have done anything differently?

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Economy

No help at our border, but Biden announces $5 billion going to bike paths, wider sidewalks

Published

2 days ago

May 17, 2022

Sara Carter Staff

In the world of Democrat delusion, they think $5 billion is necessary, at this point in time, to make bike paths and widen side walks. You cannot make this up. They have approved $40 billion in aide to Ukraine in a heartbeat under President Biden, while having rejected former President Trump’s request for a mere $5 billion to secure our border.

The news also comes as fentanyl and the drug overdoses are the number one cause of death in the U.S. There’s also an increase in human smuggling and extortion to pay to cross the border. But no; let’s make some bike paths and widen sidewalks. That is an immediate emergency.

Transportation Secretary Pete Buttigieg announced Monday that money will be used over five years under his department’s new “Safe Streets & Roads for All” program. The $5 billion ini federals funds will be used “to slow down cars chia more speed cameras, carve out bike paths and wider sidewalks and urging commuters to public transit” reports Daily Mail.

“The aim will be to provide a direct infusion of federal cash to communities that pledge to promote safety for the multiple users of a roadway, particularly pedestrians and bicyclists.” The announcement also coincides with the six-month anniversary of President Biden’s infrastructure legislation, and the beginning of the 2022 “infrastructure week.”

The desire to fix roads is a noble one, as “road traffic injuries also are the leading cause of death among young people aged 5-29. Young adults aged 15-4 account for more than half of all road deaths” reports Daily Mail, which adds:

Still, much of the federal roadmap relies on cooperation from cities and states, and it could take months if not years to fully implement with discernible results – too late to soothe 2022 midterm voters unsettled by this and other pandemic-related ills, such as rising crime.

The latest U.S. guidance Monday invites cities and localities to sketch out safety plans in their applications for the federal grants, which are to be awarded late this year.

It cites examples of good projects as those that promise to transform a high-crash roadway, such as by adding rumble strips to slow cars or installing speed cameras, which the department says could provide more equitable enforcement than police traffic stops; flashing beacons for pedestrian crosswalks; new ‘safe routes’ via sidewalks or other protected pathways to school or public transit in underserved communities; and other ‘quick build’ roadway changes designed with community input.