Former Wake Forest football player, Senator Richard Burr

donaldross said:

Good predicting on his part. If I was 65 and had such limited means, I would have likely made the same decision. Nothing in some confidential meeting said "the stock market is going to crash." Bureaucrats didn't know that for sure any more than you and I.

His trades were based on what was in the public domain, his age, his limited retirement accounts, and his limited time to recoupe what was likely to be a downturn.

There are scumbags here. They are his WF friends who immediately turned on him based on fake news.

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It is helpful to remember what DR does for a living when reading these posts.

No doubt you he has no problem with what Burr did. Because he's human filth as well.

donaldross said:

Pilchard's post accuses Burr of "Insider Trading." By definition under the insider statute, he is not an insider. He knows none of the internal workings or has internal info about the companies.

Here Burr was telling his "opinion" publicly at near the height of the market. What else is he to do?

It seems many of you opine that he is supposed to personally suffer just because everyone else is merely because he's a public servant. If that's what you want the law to be, make it so. Don't criticize him when you don't.

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Dude dumped almost all of his stock, (particularly travel/hotel stocks) following a series of private Senate security briefings that inform him that our society was headed towards a quarantine/lockdown scenario. At the same time he publicly says everything is well and not to panic. That the market is strong.

If you can't see what is morally reprehensible about that then you're pretty much fucked as a human being.

BillBrasky said:

It is helpful to remember what DR does for a living when reading these posts.

No doubt you he has no problem with what Burr did. Because he's human filth as well.

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That really is sort of my point. Just as folks hate lawyers. The media hates Republican Senators. The right wing media hates centrist Richard Burr. Folks hate anyone perceived to benefit off tragedy, legal or not.

All of those combined here to make Richard Burr the centerpiece of hate here. If the market had only gone down 10%, no one would have cared. If a cure had been found, and the market continued shooting up, he would have lost out.

Those things didn't happen though. Burr followed the law. He guessed right and went ahead and locked in his decades long gain for his upcoming retirement as millions of other older americans did.

But because he's an underpaid politician. And because he's a Republican. And because we need someone in this era to set up and hate, he becomes Christian Laettner.

donaldross said:

That really is sort of my point. Just as folks hate lawyers. The media hates Republican Senators. The right wing media hates centrist Richard Burr. Folks hate anyone perceived to benefit off tragedy, legal or not.

All of those combined here to make Richard Burr the centerpiece of hate here. If the market had only gone down 10%, no one would have cared. If a cure had been found, and the market continued shooting up, he would have lost out.

Those things didn't happen though. Burr followed the law. He guessed right and went ahead and locked in his decades long gain for his upcoming retirement as millions of other older americans did.

But because he's an underpaid politician. And because he's a Republican. And because we need someone in this era to set up and hate, he becomes Christian Laettner.

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It would be pretty hard for me to hate all lawyers, as I'm married to one. She's actually working one room away as I type.

What I hate are the predatory scum of our society like Richard Burr. People who use their status in society to enrich themselves by manipulating institutions that are suppose to be open and fair to everyone. People who claim to be representing our interests when really they are just looking out for themselves. He made himself millions, while his (knowingly) false statements costs his constituents billions. He is a bottom feeder, and if you want to include yourself in that group, that's up to you.

Burr did not follow the law, but he will get away with it.

FWIW, this is what the STOCK ACT prohibits:
The STOCK Act is an original bill to prohibit members of Congress and employees of Congress from using private information derived from their official positions for personal benefit, and for other purposes


Burr did not "follow that law", but because a prosecutor can't prove that Burr used confidential information to make the largest stock dump of Burr's life; he will skate.

Richard Burr is a centrist?!

Pilchard said:

Burr did not follow the law, but he will get away with it.

FWIW, this is what the STOCK ACT prohibits:
The STOCK Act is an original bill to prohibit members of Congress and employees of Congress from using private information derived from their official positions for personal benefit, and for other purposes


Burr did not "follow that law", but because a prosecutor can't prove that Burr used confidential information to make the largest stock dump of Burr's life; he will skate.

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Don't forget about the fact that Corona was out there in the public domain. This was not "private information." Also note, Congress chose to make certain violations crimes and some not. This was one they chose not to make a crime in the statute--even if it was based exclusively on "private information."

Others have said it and you continue it ignore his false and misleading statements to his constituents and the american people while he was jumping ship. Real stand up guy there.

deaconson said:

Others have said it and you continue it ignore his false and misleading statements to his constituents and the american people while he was jumping ship. Real stand up guy there.

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I read the article he agreed to allow Lamar Alexander to add his name too. It didn't say anything false or misleading. It was reported frequently that it said "all was great" or "all was ok." It didn't say either of those things. Is there somewhere else you were saying he was saying "false" things. Because that article was 100 percent accurate. And every time the guy was in front of any crowd he kept saying how worried he was about Corona.

But, hey, call your fellow alum a scumbag based on all of these false reports. Everyone else certainly is.

you're definitely not gonna get a lot of sympathy comparing Burr to Laettner on this here rjkarl boards

BarcaDeac said:

you're definitely not gonna get a lot of sympathy comparing Burr to Laettner on this here rjkarl boards

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You are right of course. I know Laettner is hated. But I also know that the logical ones here know that this is irrational hate.

The media can really stack someone up based on false premises leaving otherwise normal, smart Americans to hate. It's pretty amazing to watch anyway. The premises that (1) Burr was seeing stuff we weren't saying "market will go down 30%" and (2) Burr was saying "all is great" are just both BS premises that folks didn't check up on before drawing conclusions.

nothing irrational about hating a Duke player.

DR defending Burr just because he’s a Republican WFU alum is all you need to know about him.

DistrictDeacon said:

DR defending Burr just because he’s a Republican WFU alum is all you need to know about him.

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I'm a Democrat, thanks.

And, again, my defense is based on the fact that he didn't do anything wrong. I mentioned the WF connection as a reason you all shouldn't so quickly casterate the guy just assuming that some Fordham press guy isn't misleading you.

But, hey, around here it apparently hurts to have a Wake Forest connection. See Wes Miller. Great, folks we have around Wake. Look out for their own and such. Not.

Isn’t Burr retiring? Likely has a sweet lobbying role lined up.

donaldross said:

I'm a Democrat, thanks.

And, again, my defense is based on the fact that he didn't do anything wrong. I mentioned the WF connection as a reason you all shouldn't so quickly casterate the guy just assuming that some Fordham press guy isn't misleading you.

But, hey, around here it apparently hurts to have a Wake Forest connection. See Wes Miller. Great, folks we have around Wake. Look out for their own and such. Not.

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Unless Richard Burr is posting under the name Donald Ross, this is statement that no other person can make.

Burr heads the Senate Intelligence Committee, and it's a fact that as the result of that position he received confidential briefings from the US Intelligence Community about the coronavirus. Six weeks later, it has become public information that these briefings projected in late January and early February that the virus was going to hit the US and Europe with far more force than what was publicly acknowledged at the time; that's why the market was flying high until the fourth week of February. Unless you are going to claim that Burr was too incompetent to understand the content of the briefings, it's simply impossible to claim that Burr didn't use this confidential information to sell more stock on February 13 than he ever had on any single day in his 64 years of life on planet earth.

Burr "did something wrong", but he will get away with it, because: a) only Burr knows what information he relied upon when he pulled the trigger to sell an s-load of stock, b) the public has such a short attention span that this matter will soon be forgotten; c) there are so many other issues now impacting everyone that it's not going to be worth the time and effort to prove.

donaldross said:

You are right of course. I know Laettner is hated. But I also know that the logical ones here know that this is irrational hate.

The media can really stack someone up based on false premises leaving otherwise normal, smart Americans to hate. It's pretty amazing to watch anyway. The premises that (1) Burr was seeing stuff we weren't saying "market will go down 30%" and (2) Burr was saying "all is great" are just both BS premises that folks didn't check up on before drawing conclusions.

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Laettner and one of his business partners also sued his own company (and then, acting as managers of the lawsuit, chose not to fight it) and cashed in a huge settlement. He's way more of a jerk for defrauding his own business than anything he ever did on the basketball court. No surprise you try to prop him up along with Burr.

DR is a Democrat?!?

Deac1244 said:

If true, he should be prosecuted for insider trading. 29 separate transactions, dude went on a dump spree. It was also 5-10 times larger transactions than he had ever done. Sketchy

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This. Jail time, and $18M fine payable to his alma mater's athletic department for bball coach buyout.

80deacon said:

What we don't know:
1. The total value of his stock portfolio. I imagine he's likely been in the market 40+ years with good managers. I don't think it farfetched that his total value is $50-100m. If so, such a selloff is 1-2%. Richard grew up around many wealthy people in his church....mainly Reynolds people. There are many multimillionaires in WS who have had Reynolds stock 40+ years.
2. Has he ever in those 40 years made a selloff of a similar amount? (I wouldn't be surprised if he had.)
3. What was every senator and congressman's stock transactions that day or within a week's span?

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Can’t answer the first two other than to say I’d be shocked if his total value is 50 million or greater.

The answer to 3 IIRC from investigative journalists is 5 senators sold off stock in February that went beyond very minor transactions.