Do you live in North Carolina?

Dkretden

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crbrenny

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Grew up in Charlotte, and my folks are still there, very sad to hear about this, disappointing for sure.
 

Buckster

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Wow, seriously? Is critical thinking dead?
Why is everybody making a big deal about the financial advisors making moves in the market based on available intel? Do you really think that these politicians, whether democrat or republican, actually manage their own portfolios?
The article says these transactions occurred on Feb 13. My own guy started making moves to cash/gold and other select stocks that could do well in the event of an outbreak on Jan 27. He doesn't have any special inside intel; he's just a proactive advisor.
What IS concerning to me is that all these overblown reports of politicians portfolio changes talk about serious money. Hundreds of thousands to millions of dollars. To quote the article "Burr is not a particularly wealthy member of the Senate: Roll Call estimated his net worth at $1.7 million in 2018". Seriously WTF? Net worth at 1.7M, and he is not wealthy by Senate standards??
 
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Dkretden

Dkretden

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Wow, seriously? Is critical thinking dead?
Why is everybody making a big deal about the financial advisors making moves in the market based on available intel? Do you really think that these politicians, whether democrat or republican, actually manage their own portfolios?
In this case, the answer is apparently “yes”. There is reporting that indicates that his assets are NOT in a blind trust and therefore, by definition, he controls them. Further, apparently he also said that he made the financial decisions to sell these stocks.

There were several other politicians who also did major sales during this time. If you notice, I didn’t post about them because..... their assets were in a blind trust — they literally had no control and were blind to anything their trusts were or were not doing. Not true for Burr.

Burr, apparently has said this:

“Burr has acknowledged selling the stocks because of the coronavirus but said he relied “solely on public news reports,” specifically CNBC’s daily health and science reporting out of Asia, to make the financial decisions. “ Source: https://apnews.com/27957dd84cbfaba7c8c26cd354711956

I, personally don’t Believe this and apparently some others across the political spectrum don’t either:

“Washington ethics experts from both political parties told ABC News they believe authorities should look into the details of the classified intelligence briefings Burr received during that timeframe.

Matthew Sanderson, a Republican, is an ethics lawyer with the Washington, D.C., firm Caplin & Drysdale. His firm is not involved in the civil case. He told ABC News he harbors doubts about Burr’s statement, calling it a "last gasp type of defense."

He said Burr’s assertion that he sold off his stocks based on television coverage of the outbreak would not explain why he, and not many other investors, acted on that public reporting.

"To me that doesn’t hold any water," Sanderson said.”

source: https://abcnews.go.com/Politics/investor-sues-sen-richard-burr-stock-sales-ahead/story?id=69783195

then, of course, there is this:

‘As chairman of the Senate Intelligence Committee, Burr was privy to what the Washington Post described as a surge of ominous intelligence warnings about the virus in January and early February. A week before his stock sales, Burr co-authored a Fox News column that sought to reassure Americans about the virus’

Hmmmmm......
 
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