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Sen. Loeffler Reports Additional Millions Of Dollars In Stock Sales

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Senator Kelly Loeffler’s recent financial disclosures, obtained Tuesday by The Atlanta Journal-Constitution, show that she sold millions of dollars in stocks in addition to her mid-February sales.

The recent sale included three separate transactions amounting to a whopping 18.7 million in Intercontinental Exchange stock, according to the report. Notably, her husband, Jeff Sprecher is the CEO of Intercontinental Exchange, Inc. (ICE) and Chairman of the New York Stock Exchange.

Additionally, the filings revealed that the Senator sold stocks she had in two major retailers, Lululemon and T.J. Maxx, and invested in COVID-19 protective gear.

The news of the recent transactions comes as the lawmaker faces scrutiny for alleged insider trading that occurred in the first few weeks of 2020. The earlier financial decisions were made after Loeffler received a private briefing just before the coronavirus shut down the American economy. However, Loeffler, who is a former investment professional, has denied those claims saying she didn’t have knowledge of the sale.

“Senator Loeffler filed another Periodic Transaction Report (PTR) and the facts are still the same. These transactions are consistent with historical portfolio activity and include a balanced mix of buys and sells. Her stock portfolio is managed independently by third-party advisors and she is notified, as indicated on the report, after transactions occur,” a Spokesperson for Sen. Loeffler told SaraACarter.com on Wednesday.

The comment continued, “Sen. Loeffler continues to operate with integrity and transparency – following both the spirit and the letter of the law. While some will continue to make baseless accusations devoid of facts, Senator Loeffler will continue working to keep Americans safe and provide much-needed relief to Georgia families and businesses impacted by COVID-19.”

Sens. Dianne Feinstein, D-CA, Richard Burr, R-NC, James Inhofe, R-OK face similar fire for making stock sales after receiving the same briefing. Earlier this week, Burr’s lawyers said he would be willing to participate in an “inquiry” into the stock sales as the Justice Department prepares for an investigation, according to reports.

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Economy

With gas prices at record highs, Biden CANCELS gas lease

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“We did it, Joe” memes of Vice President Kamala Harris and Joe Biden are popping up all over social media alongside individuals photographs of the horrendously high prices they have to pay at the gas pump to fill their cars.

Biden has no intention of fixing it, as proven by the administration’s recent decision to actually cancel an oil and gas lease win the Gulf of Mexico and Alaska’s Cook Inlet.

This is nothing short of purposeful destruction of America. The Interior Department told The New York Post that the Cook Inlet lease sale would not move forward because of a “lack of industry interest in leasing in the area.”

In the Gulf of Mexico, the department canceled two lease sales, citing “conflicting court rulings that impacted work on these proposed sales.”

The timing is outrageous, considering “as of Thursday morning, the national average price of a gallon of regular gas stood at $4.418, according to AAA — the highest on record and $1.41 higher than at this time last year.”

Additionally, the scenario also displays just how much federal judges tend to completely disagree with his actions. “Biden imposed a moratorium on the sale of new leases one week after his inauguration, but the order was later blocked by a Louisiana federal judge who granted a preliminary injunction to 13 states that claimed they would suffer ‘irreparable injury’ from the White House move” writes The Post.

At least federal judges are watching out to keep our country afloat, let along thriving, considering our own President and Vice President will not.

Republicans and energy industry representatives are fuming over the decision. “Yesterday, Americans paid the highest price for gasoline in history,” tweeted Sen. Marco Rubio (R-Fla.). “At the same time Biden just canceled our largest pending American oil & gas lease sale.”

“Gas prices are at a record high, and Biden just canceled oil and gas leases in Alaska and the Gulf,” added Sen. Tom Cotton (R-Ark.). “Joe Biden is directly responsible for the high cost of gas.”

“It’s almost like the Biden administration WANTS gas prices to go higher” said Pennsylvania US Senate GOP candidate Carla Sands

“The President has spoken about the need for additional supplies in the market, but his administration has failed to take action to match that rhetoric,” Frank Macchairola of the American Petroleum Institute told CBS News, calling the cancellations “another example of the administration’s lack of commitment to oil and gas development in the US.”

“In the kind of price environment that we’re seeing, there are negative consequences to shutting off oil and gas development, both politically and practically,” he added.

If the administration had moved forward with the Alaskan lease, it would have covered more than 1 million acres, according to The Hill.

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