In mid-February, Senator Richard Burr sold $1.5 million in stocks, including hotel chains, after receiving information from the Senate Intelligence Committee of the impending coronavirus health crisis. Burr warned a private group of wealthy donors of the virus’ likeness to the devastating “1918 pandemic”, three weeks before the public knew of the real threat from the virus.
Burr’s vote against the STOCK ACT, a 2012 bill “that explicitly prevents members of Congress and their staffs from using nonpublic information for insider trading”, sheds light on Burr’s attitude about lawmakers using their privileged information for personal gain. He has no problem with members of Congress engaging in insider trading.
Instead of warning the public, Burr prioritized his own profits and along with Trump, allowed the people to believe the pandemic was a “hoax” and that there was nothing to fear. Even after the stock markets plummeted and coronavirus cases continued to accelerate across the nation, Burr retained his silence.
Because of his actions, Burr has betrayed the country and must resign from the Senate.