Senator Burr resigned from the Senate Intelligence panel on Thursday amidst the DOJ’s stock sales investigation. Burr was the Chairman of the Senate Intelligence Panel.
His resignation comes as the DOJ investigation into the stock sales gains momentum. In a statement after Burr’s resignation from the panel, Senate Majority Leader McConnell said that Burr informed him about the decision earlier. McConnell also agreed with the decision and said it was in the best interests of the panel.
Last night, investigators from the federal government seized Burr’s mobile phone.
Burr told the media today the whole incident was a distraction and not in the best interests of the country’s security.
Why Did Burr Resign and what is the investigation about?
The reason for Burr resignation is the DOJ’s stock sales investigation. The investigation is covering some of the stock trades made by Senators after they were told about the economic impact of the coronavirus much before anyone else in the country.
Senator Burr sold stocks worth $1.72M early in 2020. He made the trade after receiving a closed-door briefing about the national security threat posed by the coronavirus pandemic. Burr, along with other senators, received this knowledge prior to the American public.
Burr is not the only senator in this investigation. Both GOP and Democratic Senators are under investigation. Senator Feinstein was also asked about the stock trades made by her husband. Other senators who sold considerable assets at the time include Kelly Loeffler and James Inhofe.
Burr’s Resignation Catches Republicans Off Guard
Burr’s resignation surprised his GOP colleagues in the Intel Panel. Senator Rubio was not aware of Burr’s resignation even though he is second in line to become the chairman of the panel
Earlier, Rubio had said Burr would remain in the Intel Panel despite the investigation.
Senator Susan Collins said she didn’t know what to say. She later talked to Republican Whip John Thune and Burr himself near the Senate well.
(Image Credit – DonkeyHotey)