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Sen. Loeffler’s Stock Liquidation ‘is essentially a guilty plea,’ says Opponent

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Screenshot 2020 04 08 09.57.03

Georgia Sen. Kelly Loeffler and her CEO husband will liquidate their individual stock share positions, after more than a month of controversy over purchases and sales of millions of dollars of stocks during the onset of the coronavirus outbreak, but her Senate challenger’s campaign team says it’s nothing short of ‘a guilty plea.’

“She’s less credible than the Chinese government. Same advisors, different funds and no blind trust?  We’re not buying it,” said Dan McGlan, spokesman for Rep. Doug Collins

Loeffler issued her statement Wednesday in an opinion editorial submitted to the Wall Street Journal. Loeffler announced that she and her husband CEO Jeff Sprecher would be liquidating those stocks shortly after her interview with Fox Business host Maria Bartiromo and a day after SaraACarter.com published a story regarding her failure to name the broker of her stock portfolio.

Loeffler, however, continued to defend her stock sales and said that “I have never used any confidential information I received while performing my Senate duties as a means of making a private profit.” She posted her opinion piece on Twitter with a statement saying “my husband and I are liquidating our holdings in managed accounts.”

“I’m not doing this because I have to. I’m doing it to move beyond the distraction and put the focus back on the essential work we must all do to defeat the coronavirus,” she added.

Her spokesperson told this reporter in a story published Tuesday that “allegations of improper trading are based purely on cherry-picking dates and misrepresenting transactions contained in Senator Loeffler’s Periodic Transaction Reports (PTRs), rather than any actions that Sen. Loeffler took. For years, her stock portfolio has been managed independently by third-party advisors who plan the investment strategy and implement trades.”

However, Dan McLagan, spokesman for Rep. Doug Collins, who is challenging Loeffler for her Senate seat, said on Wednesday that her refusal to name her broker calls into question the stocks traded during the pandemic.

“This is essentially a guilty plea and Georgians who just saw their retirement plans crater while she profited are not going to agree to the plea deal,” said McLagan. “She’s less credible than the Chinese government. Same advisors, different funds and no blind trust?  We’re not buying it. “

Collins has not yet issued a direct statement on Loeffler’s decision to liquidate the stocks but had said earlier that he was “sickened” by the trades and purchases during a time when so many people had lost their jobs and lives.

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Nation

Remote Learning Lowered Test Scores in Every State; Minority Students Hit the Worst

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Remote Learning

A paper published by the National Bureau of Economic Research (NBER) shows remote learning has had a negative impact on students’ test scores in every state. Not only were students across the country affected, minority students were impacted the most.

According to the publication, remote learning led to declines in test scores for English and math, when compared to scores of students who went to schools with more in-person learning. “Our research shows that test score losses are significantly larger in districts with less in-person learning,” said Emily Oster, professor of economics at Brown University.

“This suggests, yes, that virtual learning was – and is – less effective than in-person learning, at least as measured by school-based testing” added Oster. “Passing rates in math declined by 14.2 percentage points on average; we estimate this decline was 10.1 percentage points smaller for districts fully in-person,” the study found.

The research combined “district-level schooling mode data from the 2020-21 school year,” “district-level test score data from 2015 to 2021” and “demographic data from the NCES,” according to the study.

Data was collected from students in third to eighth grades in 12 states: Colorado, Connecticut, Florida, Massachusetts, Minnesota, Nevada, Ohio, Rhode Island, Virginia, West Virginia, Wisconsin, and Wyoming.

Score declines showed variations by state, as well. Virginia “which had the most complete virtual learning time, along with Colorado, saw an almost 32% drop on math test scores in the 2020-21 school year when compared to the 2018-19 school year” reports Tampa Free Press.

Wyoming, however, “which had the most in-person learning, along with Florida, saw just a 2.3% drop in English, the study found.”

“Changes in English Language Arts (ELA) were smaller than math scores overall, but drops in scores were greater in districts with larger black and Hispanic populations and students eligible for free and reduced lunch prices” reports Tampa Free Press.

“Districts that have a larger share of black and Hispanic students and less in-person schooling also saw a greater decline in ELA test scores than those with more in-person schooling. “

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