Thursday, July 22, 2010

Republican Senator Burr traded on insider information? Where's the SEC investigation?


I was looking over a report of traffic to my website. Someone keeps searching google with the keywords "Richard Burr Net Worth" and winds up at my website. This didn't make sense to me. Being curious, I decided to do the same. But, I followed a link to a website that details Senator Burr's financial disclosure information. I found some really informative stuff. Did you know that Senator Richard Burr is a closet stock trader? Our Senator is a Wall Street Trading Shark.

Remember how Bank Run Burr sat in meetings in Washington DC at the height of the financial crises in 2008? Those meetings then got him so scared he called his wife Brooke and encouraged her to go to the nearest ATM and withdraw as much cash as possible? Focus on the fact that he had access to detailed, non-public, insider information about the critical governmental efforts going on at the very height of the financial crises. Right? Right.

So, isn't it amazing that Richard Burr owned some stock in Bear Stearns? Want to know when he sold that stock? Our Senator sold his Bear Stearns stock on Friday, March 14th. The stock closed at $30 that day. On the following Monday morning, March 17th, Bear Stearns was sold to JP Morgan for $2 a share [behind the scenes, the Treasury and FED forced the sale of Bear Stearns]. Amazing, eh? Our Senator is a stock trading whiz. He knows exactly when to get out of a stock, right before it plunges in value. Or, more likely, Senator Richard Burr sat in one of those meetings on March 14th and got inside information from the US Treasury or Federal Reserve Board that Bear Stearns was about to plunge in value, information he used to save himself from losing money. You be the judge. I know what I think happened, and it wasn't legal.

Now, to be fair to Senator Richard Burr, he sold a whopping $1 K worth of Bear Stearns stock, taking about a $2 K loss. We're talking peanuts. But, its the principle of the matter that counts here.

There's something even more interesting though. Senator Burr's financial disclosures indicate that he sold $5 K of stock in Lehman Brothers on March 17, 2008 - the day that JP Morgan took over Bear Stearns at the rock bottom price of $2. The problem is this, he does not disclose even purchasing any Lehman stock in 2008. And, he didn't disclose owning any Lehman stock at the end of 2007. What, his Lehman shares just appeared out of thin air? Gee, wonder what kind of illegal crap is going on there? Something's wrong here. Anyway, it appears that Richard Burr loves to trade securities. Who knew?

I don't like our US Senator. I think the man is trying to use his position to make money trading stocks on the side. But, I have to laugh my butt off at his weak attempt. In looking over his trading activity, it appears to me that he sucks at trading just as badly as he sucks at being a US Senator. He just needs to resign from the Senate and come work with me for a couple months. I'll teach our poor Senator how to trade. He needs to learn, because this pathetic man has a ridiculously low net worth for his age and stature.

The bottom line - something really smells in the stock trading of our US Senator. If I didn't know better, it would appear that North Carolina Senator Richard Burr loves doing his fair share of trading on non-public financial information. If so, the man is a crook. North Carolina simply deserves better than our sorry Republican Senator Richard Burr.

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