Former President Obama Pushes Debunked 'Insider Trading' Lie About Sens. Loeffler and Perdue

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Posted: Nov 03, 2020 11:10 AM
Former President Obama Pushes Debunked 'Insider Trading' Lie About Sens. Loeffler and Perdue

Source: AP Photo/Vincent Thian

Campaigning in Georgia ahead of election day, former President Obama regurgitated Democrat-led lies about GOP Sens. Kelly Loeffler and David Perdue. Both incumbent Senators were accused of insider stock trading after a closed coronavirus briefing in January. Likewise, both Senators were cleared of wrongdoing; the Department of Justice (DOJ) and bipartisan Senate Ethics Committee determined that neither Loeffler nor Perdue were guilty of using insider information for financial gain.

Democrats pushed these claims about the GOP Senators without any proof, and even in light of their vindication. Despite this conclusion agreed upon by multiple federal agencies, President Obama wrongfully accused both Senators of putting their portfolios before their constituents.

“Behind closed doors, they [Loeffler and Perdue] were making moves in the stock market to try and make sure their portfolios were protected, instead of making sure you were protected.”

The former president also claimed that Sens. Loffler and Perdue “downplayed” the virus, but in reality, the pair of Senators were crucial in the passing of economic relief for Americans in need. Both Senators were appointed by President Trump to the bipartisan economic task force aimed at developing solutions to the financial problems caused by COVID-19. While Sens. Loeffler and Perdue were working to pass relief for American families and small businesses, former President Obama's own party filibustered multiple relief packages.