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Dianne Feinstein, 3 Senate colleagues sold off stocks before coronavirus crash: reports


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Sen. Dianne Feinstein of California and three of her Senate colleagues reported selling off stocks worth millions of dollars in the days before the coronavirus outbreak crashed the market, according to reports.

The data is listed on a U.S. Senate website containing financial disclosures from Senate members.

Feinstein, who serves as ranking member of the Senate Judiciary Committee, and her husband sold between $1.5 million and $6 million in stock in California biotech company Allogene Therapeutics, between Jan. 31 and Feb. 18, The New York Times reported.:snip:

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Senators' stock sales may look sleazy, but they’re not insider trading

You can say a lot of things about the senators who sold stock while being briefed early on about the devastating effects of the coronavirus on the American public and now the stock market: They may be greedy, unethical and down-right stupid for thinking they could escape without getting noticed.

Or maybe they're just good investors (OK, hold the laughter).

But here's one thing they're almost certainly not: Criminal inside-traders.

Yes, I know that Republican Sens. Kelly Loeffler and Richard Burr (and some others) sure do look like they committed stock fraud known as insider trading by dumping their shares of stock before the collapse of the market based on information they received that isn't known publicly. :snip:

 

 

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