Senators fight controversy surrounding stock sales as coronavirus spread

A group of senators became embroiled in controversy over their sale of stocks after it was reported they made the maneuvers right before the stock market plunged while the country and the rest of the world grappled with the coronavirus crisis. The lawmakers, who come from both the Republican Party and Democratic Party, are facing allegations of insider trading, spurred by reports, some of which appear to be unfounded, that some of them were receiving secretive congressional briefings on the COVID-19 virus outbreak around the time they sold major holdings.

It all started with an NPR report Thursday featuring a recording of Senate Intelligence Committee Chairman Richard Burr during a luncheon, where the Republican warned about the growing threat. ProPublica then published a report about Burr’s February stock dumps, implying the sales flowed from daily intelligence community briefings he had been receiving about the COVID-19 virus. Another senator, Georgia Republican Kelly Loeffler, got roped into the controversy when the Daily Beast published a report about her financial disclosures showing large stock sales, hinting these sales happened due to information gleaned from a Health Committee briefing the same day last month.

Ensuing reports of seemingly suspiciously timed sell-offs ensnared Democratic Sen. Dianne Feinstein of California and Republicans such as Sen. Jim Inhofe of Oklahoma, Sen. David Perdue of Georgia, and Sen. Ron Johnson of Wisconsin, leading to concerns about improper stock trading. The Democratic Senatorial Campaign Committee even launched attacks based on some claims against GOP lawmakers. All the senators have denied wrongdoing, and President Trump said during a coronavirus briefing at the White House on Friday, “I find the whole group very honorable people."

https://www.washingtonexaminer.com/news/senators-fight-controversy-surrounding-stock-sales-as-coronavirus-spread

Mar-a-Lago closes as more become infected with coronavirus

President Trump’s Mar-a-Lago resort in Florida has closed because of the coronavirus crisis. During peak season, the club closed Monday for a deep cleaning after several guests were confirmed to have the coronavirus. The president’s property was supposed to be open the rest of the week but has remained closed, according to the New York Times. Several other Trump Organization properties are also cutting back on operations, the report said.

Trump’s family business has cut staff from hotels in New York and Washington, D.C., and has stopped taking reservations in Las Vegas. The president’s golf courses in Los Angeles and the Miami area are closed. “As an organization, we are following federal, state, and local direction and guidance very carefully,” Eric Trump said. The president’s son said the Trump Organization, unlike larger hotel chains, had the flexibility to make decisions about closures and layoffs on a case-by-case basis. “All of the associates in our company are family, and we are all awaiting the moment this pandemic is defeated so we can reopen and get back to work, running the best assets in the world,” he said.

https://www.washingtonexaminer.com/news/mar-a-lago-closes-as-more-become-infected-with-coronavirus