DUMPED

Congress Under Scrutiny for Coronavirus-Related Stock Trades

A number of lawmakers and some congressional staff made key stock trades in the weeks leading up to the market implosion.

A number of lawmakers and congressional staff are under increasing scrutiny following revelations that they made notable stock trades in the lead up to this month’s massive market decline. Senators Kelly Loeffler and Richard Burr both dumped millions in stocks following coronavirus-related briefings in the weeks leading up to the market drop. And on Saturday, Politico reported that Rep. Susan Davis unloaded thousands of dollars in stock for Alaska Air and Royal Caribbean cruises, both of which have been hit hard by coronavirus-related travel restrictions. Politico also reported that several congressional aides also made thousands of dollars in stock trades in industries directly affected by the coronavirus, including one staffer in Senate Majority Leader Mitch McConnell’s office and Senator Jeanne Shaheen’s office. Politico notes that while none of those transactions match the size of Burr or Loeffler’s market moves, over the past several months, numerous lawmakers have received classified and non-classified briefings about the effects of coronavirus.