Two Republican senators have defended themselves against heavy criticism, including calls that they resign, for selling substantial amounts of stocks before the coronavirus-induced market meltdown and after closed-door briefings on the outbreak.
Senate Intelligence Committee Chairman Richard Burr sold up to $1.7m worth of stock on 13 February in 33 separate transactions after offering public assurances the government was ready to battle the virus.
His financial filings were first reported by ProPublica. Senator Kelly Loeffler also sold millions of dollars in shares in the weeks after politicians were first briefed on the virus, according to public filings.
Media reports about Mr Burr and Ms Loeffler, who have denied wrongdoing, prompted calls they leave office and other criticism from people as disparate as a progressive Democratic politician and a conservative commentator.
Mr Burr made public comments in line with Republican President Donald Trump's early assurances that the country could easily deal with the outbreak.
Mr Trump has since taken a markedly more serious tack.
But the senator told a private Washington luncheon two weeks after the stock sales that the coronavirus was much more aggressive "than anything that we have seen in recent history," according to a recording obtained by National Public Radio.
The comments predated Wall Street's series of avalanches.
In a statement yesterday, Mr Burr said he relied only on public news reports to guide his decision on the 13 February stock sales.
Mr Burr said: "Understanding the assumption many could make in hindsight, however, I spoke this morning with the chairman of the Senate Ethics Committee and asked him to open a complete review of the matter with full transparency,"
Senate Ethics Committee Chairman James Lankford declined to comment.
Ms Loeffler sold up to $3.1m in stocks in 27 transactions from 24 January through mid-February, as first reported by The Daily Beast.
The report said the sales began the day her health committee hosted a private coronavirus briefing for senators.
She also made two purchases.
Ms Loeffler said she was informed of the transactions three weeks after they occurred and that she is not involved in investment decisions for her portfolio.
She wrote on Twitter: "This is a ridiculous and baseless attack."
Mr Trump said the senators should "possibly" be investigated.
He told reporters: "They said they did nothing wrong. I find them, the whole group, very honorable people."
Critics on both ends of the political spectrum called on Mr Burr and Ms Loeffler to consider resigning or at least explain the sales.
