"What's in It for Me?": Alleged Insider Trading Off of Pandemic, Peach State GOP Senator Kelly Loeffler Sold Out Americans and Georgians to Make Millions
November 29, 2020
Profits before people. Senator Kelly Loeffler (R-GA) is running for reelection on January 5. (Wikipedia)
BUZZFLASH UPDATE
As America has increased its economic chasm over the last few decades since the “Reagan Revolution” turned the US economy over to millionaires, billionaires and corporate plundering, Republican politicians have increasingly blurred the line between being elected representatives and members of the oligarchy.
The January 5 Georgia senatorial runoff offers two such examples: Georgia GOP Senators David Perdue and Kelly Loeffler. Perdue stands accused of insider trading while on the Senate Banking Committee, and other insider trading. The Associated Press also detailed that Perdue used insider knowledge about the COVID pandemic, before it was announced to the public, to make millions by selling a stock, Cardlytics, while it was high, then rebuying at a much lower price after the initial pandemic news sent the market tumbling.
Loeffler also stands accused of profiting off of pandemic trading, as noted in an April NPR article, “Stock Trades After Coronavirus Briefing Complicate Loeffler's Reelection Bid.” Both the Republican Senate Ethics Committee and Trump’s DOJ cleared both Perdue and Loeffler of charges, as is generally the case with wealthy GOP politicians and the stock market. (A DOJ investigation into COVID-related insider trading by the former Chair of the Senate Intelligence Committee, Richard Burr (R-NC), appears, however, to still be active. It will probably quietly be dropped before the end of the Trump administration.)
Perdue’s net worth is more than $15 million; Loeffler, whose husband’s company owns, yes owns, the New York Stock Exchange, has a combined net worth with her hubby of more than $800 million dollars, making her the richest person in the Senate.
When it comes to the people of Georgia choosing senators on January 5 who will represent their interests and not the financial profiteering of Loeffler and Perdue.
That may be why #NobodyLikesKelly as the video below shows: