Senate Intelligence Committee Pays - Maybe the FBI Needs Good PR? - Insider Trading on COVID-19 Related Investments

Ed.'s note: This is how it works in Washington with your "representatives" working hard for you. One of the job perks as a senator. This is why America doesn't stand a chance: intelligence has been eviscerated and is being used to either profit off or used as a weapon against political enemies like what happened to President Trump. This guy was the Chair of the Senate Intelligence Committee and now he is under investigation for insider trading. This type of insider trading goes on all the time so now it should be investigated who exposed him and why? Was this a PR stunt by the FBI considering all the bad publicity it is receiving over what has been called "Obamagate"? This criminal opposed the STOCK Act in 2012 that prohibits members of Congress and congressional staff from using nonpublic information in securities trading. The Stock Act was designed to prevent insider trading. Burr sold between "$628,000 and $1.72 million of stock in 33 transactions during a period when, as head of the Senate Intelligence Committee, he was being briefed daily regarding potential health threats from COVID-19." Burr is the 54th wealthiest senate member with an estimated net worth as of 2015 of $3,132,848. In 2015, Burr's profits took off and the reason why is because that is the year he became Chair of the Senate Intelligence Committee.
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Source: Politico

Burr to step down as intel panel chairman as stock scandal deepens

Republicans, however, are continuing to stand by the North Carolina senator.

Sen. Richard Burr. | Gabriella Demczuk /The New York Times via AP, Pool

By MARIANNE LEVINE, BURGESS EVERETT and ANDREW DESIDERIO | 05/14/2020

Sen. Richard Burr will step down temporarily as chairman of the Senate Intelligence Committee while under investigation by the FBI for his stock trading, a political earthquake that shocked Republican senators on Thursday and upended the Senate's daily business.

Senate Majority Leader Mitch McConnell (R-Ky.) said Burr informed him he would step aside at the end of the day on Friday, news that followed the FBI serving him a search warrant and seizing his cell phone Wednesday evening as part of its investigation into his financial transactions.

The North Carolina Republican told reporters he stepped aside because the investigation is a "distraction to the hard work of the committee, and the members and I think that the security of the country is too important to have a distraction." He will remain on the committee, a source familiar with the situation said, and his decision to step down for now is not required by the Senate Republican Conference.

Senate Intelligence Committee Ranking Member Mark Warner (D-Va.) said Thursday he got a heads up from Burr and said that the North Carolina Republican "did the right thing."

"It's in the best interest of the conference until this plays out. But he deserves his day in court, and deserves his due process" said Senate Majority Whip John Thune (R-S.D.).

The last senator to give up a leadership position was Sen. Robert Menendez (D-N.J.), who stepped down as the top Democrat on the Foreign Relations Committee when he was indicted on corruption-related charges. Republicans argued Burr was being far more proactive than Menendez.

It's unclear who will take the helm of the powerful committee, but Thune predicted it could be Sen. Marco Rubio (R-Fla.), who currently chairs the Small Business Committee. Sens. Jim Risch of Idaho and Susan Collins of Maine are also senior members of the panel, though Risch chairs the Senate Foreign Relations Committee and may not want to take on the Intel chairmanship.

"The leader can choose who he wants … I'll do whatever they ask me to do," Rubio said Thursday. "My understanding is Sen. Burr will remain on the committee so whoever gets it is going to be a backup quarterback coming into the game for a few plays while the guy goes through a concussion protocol."

A senior Justice Department official confirmed on Thursday that a warrant was served on Burr's lawyer for the senator's cell phone. The warrant was approved at the highest levels of the Justice Department, the official said, adding that authorities did not conduct a raid. It was first reported by the Los Angeles Times.

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