ANOTHER Georgia senator faces questions over shares sell-off as it’s revealed he dumped 34 stocks worth $825,000 in March after closed-door coronavirus briefings
- Sen. David Purdue, a Georgia Republican, is facing questions over a flurry of stock transactions he made in March
- Purdue’s rate of trading increased threefold in comparison to past months, amid the coronavirus wreaking havoc on the stock market
- The Atlanta Journal-Constitution reported on the transactions Monday, with a spokeswoman saying Purdue is not in charge of his profile
- Sen. Kelly Loeffler, Georgia’s other senator who’s also a Republican, has been called on to resign over dumping stocks after a coronavirus briefing
- Loeffler is polling behind Rep. Doug Collins and a Democratic contender in the Georgia special election in November
- Collins was previously ahead of Loeffler by 8 points, now he’s up by 23 points, polling done for his campaign shows
Now Sen. David Purdue, a Georgia Republican, is facing questions over a flurry of stock transactions he made in March as the coronanvirus pandemic wreaked havoc on the stock market.
The Atlanta Journal-Constitution reported Monday that Purdue’s trading went up nearly threefold in March, as he made 112 transactions throughout the month, purchasing 76 stocks worth up to $1.8 million and selling off 34 stocks worth up to $825,000.
Purdue follows in the footsteps of Sen. Kelly Loeffler, whose stock dumps following a closed door Senate coronavirus briefing have ignited calls for her resignation and potentially tanked her chances for re-election, new polling shows.
Sen. David Purdue (left) is facing questions over a flurry of stock transactions in the month of March, while Sen. Kelly Loeffler’s (right) February stock dump has led to calls for her resignation
New polling shows that Sen. Kelly Loeffler (pictured) is behind Rep. Doug Collins and Democrat Raphael Warnock in the run-off Senate race scheduled as the same day as the general election in November
Rep. Doug Collins is 20 points ahead of Democrat Raphael Wamock and 23 points ahead of Sen. Kelly Loeffler, the incumbent, in a new poll of Georgia voters
Both Purdue and Loeffler are up for re-election in November.
Purdue will compete for a fresh six-year term.
Loeffler, who was appointed to the Senate in December by Georgia Gov. Brian Kemp, will have to run in a special election to earn the final two years of retiring Sen. Johnny Isakson’s term.
The special election will be held the same day as the general election, November 3, with a run-off election planned for January 5, 2021, if no candidates wins a majority.
A poll conducted by Battleground Connect on behalf of Loeffler’s Republican rival Rep. Doug Collins – and first reported on by Politico – finds that Loeffler has slipped into third place behind Collins and Raphael Warnock, a Democratic contender.
Collins receives 36 per cent of the votes, followed by Warnock with 16 per cent and Loeffler with 13 per cent.
Another Democrat, Matt Lieberman, receives 11 per cent of the vote.
Collins’ lead over Loeffler had previously been at 8 points, now it’s at 23 points.
And when pollsters looked at potential run-off situations, they found that Collins beat Democrat Warnock 49 per cent to 36 per cent, while Loeffler lost to Warnock by one point – 40 per cent to 41 per cent.
Additionally, Collins’ image amongst likely voters is a net 41 points more favorable than Loeffler’s, the survey found.
Collins, of course, has been taking advantage of the stock dumping scandal to benefit his campaign.
‘It was really horrible for all of us who are trying to work to help the American people at a time at which it appears likely that something was used to make a personal gain,’ the Georgia lawmaker said in a recent interview with the Washington Post.
Loeffler has gone on television to defend herself and said that she’s not in charge of her financial portfolio.
Purdue has said the same.
‘Since coming to the U.S. Senate in 2015, Sen. Purdue has always had an outside adviser managing his personal finances, and he is not involved in day-to-day decisions,’ his spokeswoman Cherie Gillan told the Atlanta Journal-Constitution. ‘For the past five years, the senator has fully complied with federal law and all Senate ethics requirements.’
Lawmakers are prevented from using information they glean on Capitol Hill to buy and sell stocks, as outlined in the STOCK act.