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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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Politics

Biden Energy Secretary Subject of Ethics Complaint for Promoting Electric Company She Held $1.6 Million in Stock

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US Energy Secretary Jennifer Granholm
US Energy Secretary Jennifer Granholm

President Biden’s Energy Secretary Jennifer Granholm has received an ethics complaint for promoting an electric bus company she sat on the board of and held over a million dollars of stock in. She did so all while being a part of the executive branch in Biden’s administration.

Breitbart reports Granholm, “who oversees moving the country toward an electric vehicle transportation system and enjoys newfound powers after the passage of Biden’s infrastructure package — is facing scrutiny for promoting Proterra, a Burlingame, California-based electric bus company she sat on the board of and held 240,520 shares of stock in, which garnered her $1.6 million when she finally divested them 157 days after her nomination.”

Critics say Granholm has promoted Proterra in her official capacity as energy secretary and for hyping grant access to companies with connections to Proterra. Additionally, they say Granholm’s promotion of Proterra has increased its visibility and therefore the value of her stock before she was required to sell her shares due to ethics rules.

As of Monday, the company had a market cap of $2.6 billion. Granholm also promoted Burlingame, a California electric vehicle company, at the same time “Democrats in Congress were crafting – and ultimately passing – Biden’s $1.2 trillion infrastructure package, which dramatically increases Granholm’s authority as energy secretary to advance private sector companies in the transition to an electric vehicle-based transportation infrastructure” reports Breitbart.

The infrastructure package “grants as much as $174 billion to green vehicles and $456 billion to zero-emission buses to ‘replace 50,000 diesel transit vehicles and electrify at least 20 percent of our yellow school bus fleet’ and ‘to build a national network of 500,000 EV chargers by 2030.”

Breitbart reports:

Granholm’s involvement with Proterra started in March of 2017 when the company announced she would be joining its board ostensibly due to her experience with the automotive sector when she served as Michigan’s governor from 2003 to 2011. Proterra hoped to use Granholm’s “track record for producing a high-quality clean energy and transportation workforce in the Midwest” to launch the company into the “next phase of strategic growth and national deployment,” its press release explained. During her time on the board, Granholm supplemented her considerable income by simultaneously serving on the boards and consulting for various left-wing organizations as well, such as American Bridge PAC and Media Matters.

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