‘Loeffler is profiting off their pain? I’m sickened just thinking about it…’
(Michael Barnes, Liberty Headlines) Rep. Doug Collins took Sen. Kelly Loeffler to taks on Twitter Friday morning, for dumping millions of dollars in stock after an early Wuhan virus briefing in January.
Since then, the stock market has tanked and the economy has ground to a near-standstill.
But unlike the bulk of everyday Americans, Loeffler’s investments were spared — leading Collins to accuse her of “profiting off their pain.”
“People are losing their jobs, their businesses, their retirements, and even their lives and Kelly Loeffler is profiting off their pain? I’m sickened just thinking about it,” Collins tweeted.
People are losing their jobs, their businesses, their retirements, and even their lives and Kelly Loeffler is profiting off their pain? I’m sickened just thinking about it.
— Doug Collins (@CollinsforGA) March 20, 2020
Both Collins and Loeffler are Georgia Republicans, and both are vying for the U.S. Senate seat in November that Loeffler currently holds, thanks to Georgia Gov. Brian Kemp.
Last year, GOP Sen. Johnny Isakson resigned due to health problems, and Kemp chose Loeffler over Collins to fill the vacancy.
Collins, an Iraq War veteran and ardent supporter of President Trump, was upset that he was overlooked.
Now, he’s calling Loeffler out for her apparent insider stock trading.
According to the Daily Beast, Loeffler began her sell-off on Jan. 24, the same day a Trump administration emergency response team, which included Dr. Anthony Fauci, briefed senators on the budding pandemic.
Since the briefing, Loeffler has made 29 market transactions and sold anywhere from $1,275,000 and $3,100,000 in stocks.
“The first stocks she sold were worth between $50,000 and $100,000 from the company Resideo, which has now lost more than 50% of its value. Before that transaction, Loeffler had not reported a single stock transaction since her Jan. 6 appointment to the Senate,” reported the Washington Examiner.
Loeffler fired back on Twitter just before midnight on Thursday: “I want to set the record straight: This is a ridiculous & baseless attack. I don’t make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband’s knowledge or involvement.”
I want to set the record straight: This is a ridiculous & baseless attack. I don’t make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband’s knowledge or involvement.
— Kelly Loeffler (@KLoeffler) March 20, 2020
Collins rose to national prominence during congressional impeachment proceedings last year. He is the ranking member of the House Judiciary Committee and was one of eight GOP congressman selected to defend the president in the Senate impeachment trial.
Loeffler is the former CEO of Bakkt, a subsidiary of commodity and financial service provider Intercontinental Exchange.