Senator Kelly Loeffler Denies Wrongdoing as Fox Anchor Grills Her on Dumping Stocks Before Market Crash
Fox News’ Ed Henry confronted Republican Senator Kelly Loeffler on Friday following revelations that she sold stocks after a classified briefing on Coronavirus but before major falls in the stock market. Loeffler is one of several senators who reportedly dumped stocks shortly after the 19 January briefing.
“Senator, you thought the government was prepared,” Henry said. He was referencing a tweet she’d sent on 24 January.
“Yet shortly after that tweet that I just noticed, you sold over $1 million in stocks before the market went down. Were you trading on inside information about what was coming?”
“It’s absolutely false, and it could not be true,” the Georgia senator said.
“If you actually look at the personal transaction reports that were filed, it notices at the bottom I’m only informed after by transactions after they occurred, several weeks. Those transactions, on my behalf at least, were a mix of buys and sells. Very routine for my portfolio.”
Henry noted that Loeffler had also purchased stock in a teleconferencing company which had recently gained in price and he wondered just who her portfolio managers were.
“Who are these third-party advisors?” he asked. “They seem have a pretty good idea about where the market was headed?”
“I’m not involved in the decisions around buying and selling,” Loeffler reasserted. “There’s a range of different decisions made every day with regard to my portfolio and my 401k that I’m not involved in. And certainly, like any other trades, you can’t see into the future.”
So far five senators have been implicated in selling off stocks following a classified briefing. Loeffler is also married to Jeffrey Specher, chairman of the New York Stock Exchange, as Henry noted.
Watch the video above, via Fox News.