Sen. Richard Burr Sold Massive Amounts of Stock Days After Lying About US Coronavirus Preparedness
Sen. Richard Burr (D-NC) reportedly sold between $582,029 and $1.56 million of his holdings on Feb. 13 in 29 separate transactions, after falsely claiming on Feb. 7 that the U.S. was prepared for the coronavirus.
Burr and Sen Lamar Alexander (R-TN) wrote an op-ed on the Fox News website that misled Americans:
The United States today is better prepared than ever before to face emerging public health threats, like the coronavirus…
No matter the outbreak or threat, Congress and the federal government have been vigilant in identifying gaps in its readiness efforts and improving its response capabilities.
Burr is the powerful chairman of the Senate Intelligence Committee, which was receiving daily coronavirus briefings around the time of his massive stock sale, reports Reuters.
A week after Burr’s stock sales, the stock market began a sharp decline and has lost about 30% since.
NPR reported that Burr warned wealthy donors on Feb. 27 how the coronavirus would be worse than the Spanish Flu in 1918,, which killed millions:
There’s one thing that I can tell you about this: It is much more aggressive in its transmission than anything that we have seen in recent history … It is probably more akin to the 1918 pandemic.