Loeffler reports more stock sales amid insider trading allegations

[BeckyDem]

Politics 9 hours ago
By

Tia Mitchell Chris Joyner, The Atlanta Journal-Constitution

U.S. Sen. Kelly Loeffler’s most recent financial disclosures show that millions of dollars in stocks were sold on her behalf at the same time Congress was dealing with the impact of the coronavirus.

The largest transactions — and the most politically problematic — involve $18.7 million in sales of Intercontinental Exchange stock in three separate deals dated Feb. 26 and March 11. Loeffler is a former executive with ICE, and her husband, Jeff Sprecher, is the CEO of the company, which owns the New York Stock Exchange among other financial marketplaces.

During the same time period reflected on reports filed late Tuesday, the couple also sold shares in retail stores such as Lululemon and T.J. Maxx and invested in a company that makes COVID-19 protective garments. The Atlanta Journal-Constitution got the first look at these reports, covering mid-February through mid-March and shedding new light on Loeffler’s financial transactions during the pandemic. Previous reports — which have put Loeffler in the national spotlight — covered her trading during the first six weeks of 2020.

Loeffler provided the numbers to The Atlanta Journal-Constitution, and they were more exact than what would appear on a federal campaign finance disclosure.
https://www.ajc.com/news/state--regional-govt--politics/loeffler-reports-more-stock-sales-amid-insider-trading-allegations/YFPDT3pChO873nuzNKa44K/

[gibraltar72]

1. Department of Coincidences needs to look into this.

[Sherman A1]

2. I hope she gets to spend some quality time

with SEC investigators and perhaps some quality time with the justice and penal systems.

[BeckyDem]

3. +1. Its hard for me to type with my fingers crossed, but I am trying!

[Sherman A1]

5. Ah,

So I'm not the only one who has trouble typing with their fingers crossed.......

[malaise]

4. Get thee to the greatest page

Lock them up!

[justhanginon]

6. A lesson in how the rich get richer because having

too much money is never enough.
Would love to see her charitable contributions.

[TheBlackAdder]

7. I'm sure there was a whole shit show, with many actors, who all played part in this crime.

[crickets]

8. Dear me. I don't see reelection in the cards for you, sweetie. Buh-bye!

Good riddance.

[onenote]

9. I think these trades will pass muster.

By February 26, the market already had been on a downward trend for several days. (It peaked at 29,551 on Feb. 12 and was down to 27,081 (8.4 percent) at the close on February 25. Lots of people were selling. And by March 11, the market was down to 25018 -- over 15 percent from its high a month earlier).

Lots of people were being advised to dump stocks by then. Companies like Lulumon and TJ Maxx generally were doing even worse than the overall market.

This doesn't get Loeffler off the hook for the sales that were made before the market slide.

[BeckyDem]

11. Interesting, thank you.

[gratuitous]

10. "Stocks were sold on her behalf"

Don't you love the passive voice? As if all these transactions just executed themselves. Coincidentally just at the moment Loeffler had early notice and advance warning that some of her holdings would soon be losing a lot of money, and other stocks might soon see a big uptick. Amazing!