The furor began after ProPublica, a nonprofit news organization, reported that Burr unloaded the stock around mid-February, about a week before the market started to plunge because of coronavirus concerns.
Schumer, D-N.Y., called for the investigations on MSNBC Saturday after Burr, R-N.C., Feinstein, D-Calif., as well as Sens. James Inhofe, R-Okla., and Kelly Loeffler, R-Ga., were hit with allegations of selling large amounts of stocks before the coronavirus crisis rocked Wall Street.
“The answer, in one word, is yes. There should be and there will be,” Schumer said on MSNBC. “I don’t own any stocks. I think it’s a very bad idea for senators to own stocks.”
Financial disclosure statements indicated that Sens. Richard Burr, R-N.C.; Jim Inhofe, R-Okla.; Kelly Loeffler, R-Ga.; and Dianne Feinstein, D-Calif.; their spouses or advisers sold large chunks of stock around the time lawmakers received behind-the-scenes briefings about the severity of the coronavirus, which has claimed more than 3,600 lives in the USA.