GOP Sen. Richard Burr's response to coronavirus insider-trading reports ranges from weak denial to 'lol'
Sen. Richard Burr (R-N.C.), chairman of the Senate Intelligence Committee, responded Thursday night to two damaging reports showing his bifurcated public-private responses to the COVID-19 coronavirus outbreak.
First, NPR News reported that Burr had issued a dire warning about the coronavirus at a Feb. 27 private luncheon in North Carolina at the same time he was publicly more upbeat about America's preparedness for a pandemic. Then, ProPublica examined Burr's new financial disclosure forms and found that he sold between $628,000 and $1.72 million of his stock holdings in 33 separate transactions on Feb. 13, his largest stock selling day in at least 14 months. The stock market has since plummeted about 30 percent.
Burr called NPR's article, which included a recording of his comments, a "tabloid-style hit piece" that left the wrong impression Americans weren't properly warned about the coronavirus, citing tepid comments from President Trump and other officials. Burr spokeswoman Caitlin Carroll responded to the reports of possible insider trading by noting that "Burr filed a financial disclosure form for personal transactions made several weeks before the U.S. and financial markets showed signs of volatility due to the growing coronavirus outbreak." When NPR asked about Burr's stock sales, Carroll replied: "lol."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Burr was one of only three senators who voted against the 2012 STOCK Act, which requires senators and their staff to regularly disclose their stock trades and explicitly bars them from using nonpublic information for buying and selling shares. In 2009, after hearing a report about banking troubles from Treasury Secretary Hank Paulson, Burr publicly recalled telling his wife "to go to the ATM machine, and I want you to draw out everything it will let you take." Fox News host Tucker Carlson and Rep. Alexandria Ocasio-Cortez (D-N.Y.) were among those who called on Burr to explain or resign.
Trump, who isn't friendly with Burr, watches Carlson's show regularly and is known to value his opinion. At the same time, Burr isn't the only GOP senator who made questionable stock sales while downplaying the virus, and this scandal may yet end up hitting closer to home. Peter Weber
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
The Pentagon faces an uncertain future with Trump
Talking Point The president-elect has nominated conservative commentator Pete Hegseth to lead the Defense Department
By Justin Klawans, The Week US Published
-
This is what you should know about State Department travel advisories and warnings
In Depth Stay safe on your international adventures
By Catherine Garcia, The Week US Published
-
'All Tyson-Paul promised was spectacle and, in the end, that's all we got'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
By Peter Weber Published
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
By Justin Klawans Published
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
By Peter Weber Published
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
By Justin Klawans Published
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
By Catherine Garcia Published
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
By Catherine Garcia Published
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
By Catherine Garcia Published
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read
By Justin Klawans Published