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.
“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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BREAKING: House fails to pass stopgap funding bill to avoid government shutdown
The House of Representatives failed to pass a continuing resolution negotiated between conservative and moderate House Republicans in an effort to avoid a government shutdown.
The Spending Reduction and Border Security Act was introduced by Republican Rep. Byron Donalds of Florida on Sept. 18, following negotiations between the conservative House Freedom Caucus and centrist Main Street Caucus, as a compromise between divided factions of the House Republican Conference to achieve unanimity while avoiding a government shutdown. The bill failed the House by a vote of 198 yeas to 232 nays, with all Democrats voting against the bill.
The bill would fund the government until Oct. 31 and cut public spending by 8.1285%, according to the bill’s text. This would yield $1.59 trillion for one month until the House and Senate pass 12 appropriations bills to provide permanent funding for the 2024 fiscal year.
The Biden administration issued a statement on Friday staunchly opposing the bill, claiming that its cuts to public spending were too severe. It indicated that President Joe Biden will veto the bill if it is presented to him, which means it is unlikely to be passed by the Democratic-led Senate, either.
The Senate has been working on its own bipartisan continuing resolution to fund the government, which includes funding for Ukraine. House Republicans have criticized the bill, with Donalds saying that it is “dead on arrival” in the House.
Continue reading: Daily Caller
I will not be voting for another continuing resolution. pic.twitter.com/zV5AZDce2Z
— Rep. Matt Gaetz (@RepMattGaetz) September 22, 2023
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