There’s something deeply disturbing about seeing someone profit from a disaster, and we’ve already seen a few examples in the present crisis. First it was the guys who bought up over 17,000 bottles of hand sanitizer in the hopes of selling them at a high markup. (After Amazon put a stop to their sales, the pair of hoarders donated the sanitizer.) Now we have reports that multiple US senators may have acted on inside information about the coronavirus pandemic, selling stocks in anticipation of a crash, even as they failed to warn the public about the danger posed by the virus. These allegations, if they are indeed true, show that even in a time of crisis, our elected officials are looking out for themselves rather than the public. ProPublica reports that North Carolina Republican Richard Burr, who was receiving daily coronavirus briefings as chairman of the Senate Intelligence Committee, “sold off a significant percentage of his stocks, unloading between $628,000 and $1.72m of his holdings,” a week before the stock market tanked. And while in public he was insisting that the government was capable of handling the virus, to well-connected constituents at the Capitol Hill Club he was warning that… Read full this story
- Sebi levies Rs 34 lakh fine on 2 entities for violating insider trading, disclosure norms
- Sebi levies Rs 18 lakh fine on 2 promoters of Oasis Tradelink for violating insider trading norms
- 'It looks even more like a ghost town': What it's like inside the US Senate amid coronavirus.
- Kelly Loeffler Claims Insider Trading Accusations Are Politically Motivated, ‘Designed To Distract’
- Senior IT worker at top tech law firm arrested for insider trading
- Laguna Niguel Couple Sued For Insider Trading Scheme
- Senators accuse Lusaka of disobeying House protocol
- Coronavirus latest: German retailers fear bankruptcy wave
- Coronavirus: Inside Perrie Edwards and Alex Oxlade-Chamberlain swish isolation pad
- Coronavirus: Inside Sweden’s unique and controversial approach to COVID-19
US senators accused of coronavirus insider trading are a symbol of moral bankruptcy have 316 words, post on www.theguardian.com at March 21, 2020. This is cached page on Europe Breaking News. If you want remove this page, please contact us.